41,591 Shares in Enbridge Inc $ENB Acquired by 111 Capital

Key Points

• 111 Capital recently acquired 41,591 shares of Enbridge Inc, worth approximately $1.89 million, marking a new investment in the company during the second quarter.
• Enbridge reported $0.47 earnings per share for the last quarter, exceeding analysts' expectations of $0.41, while also declaring a new quarterly dividend of $0.6839 per share.
• Major institutional investors, including Goldman Sachs and the Canada Pension Plan Investment Board, have significantly increased their holdings in Enbridge over recent quarters.

111 Capital acquired a new position in shares of Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund acquired 41,591 shares of the pipeline company's stock, valued at approximately $1,887,000.

Several other institutional investors also recently bought and sold shares of ENB. Goldman Sachs Group Inc. raised its holdings in Enbridge by 137.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 32,907,433 shares of the pipeline company's stock valued at $1,458,128,000 after acquiring an additional 19,074,827 shares during the last quarter. Nuveen LLC acquired a new position in Enbridge in the 1st quarter valued at $208,490,000. Canada Pension Plan Investment Board raised its holdings in Enbridge by 39.7% in the 1st quarter. Canada Pension Plan Investment Board now owns 9,525,987 shares of the pipeline company's stock valued at $421,675,000 after acquiring an additional 2,707,068 shares during the last quarter. Maple Brown Abbott Ltd acquired a new position in Enbridge in the 1st quarter valued at $77,976,000. Finally, JPMorgan Chase & Co. raised its holdings in Enbridge by 10.5% in the 1st quarter. JPMorgan Chase & Co. now owns 17,643,681 shares of the pipeline company's stock valued at $781,792,000 after acquiring an additional 1,680,116 shares during the last quarter. 54.60% of the stock is currently owned by institutional investors and hedge funds.

Enbridge Trading Up 0.8%

ENB stock opened at $50.11 on Friday. The business has a fifty day simple moving average of $48.06 and a 200-day simple moving average of $46.09. The company has a quick ratio of 0.65, a current ratio of 0.75 and a debt-to-equity ratio of 1.58. Enbridge Inc has a 52 week low of $39.73 and a 52 week high of $50.54. The company has a market cap of $109.27 billion, a price-to-earnings ratio of 24.68, a PEG ratio of 4.55 and a beta of 0.78.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last announced its quarterly earnings results on Friday, August 1st. The pipeline company reported $0.47 earnings per share for the quarter, topping analysts' consensus estimates of $0.41 by $0.06. Enbridge had a net margin of 10.11% and a return on equity of 10.77%. The firm had revenue of $7.14 billion during the quarter, compared to analysts' expectations of $10.56 billion. During the same period in the prior year, the company earned $0.58 EPS. On average, equities research analysts expect that Enbridge Inc will post 2.14 EPS for the current year.

Enbridge Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 1st. Investors of record on Friday, August 15th were given a dividend of $0.6839 per share. This is a positive change from Enbridge's previous quarterly dividend of $0.68. The ex-dividend date of this dividend was Friday, August 15th. This represents a $2.74 dividend on an annualized basis and a yield of 5.5%. Enbridge's dividend payout ratio is currently 134.98%.

Analyst Upgrades and Downgrades

ENB has been the subject of several analyst reports. Weiss Ratings reiterated a "buy (b)" rating on shares of Enbridge in a report on Saturday, September 27th. National Bankshares restated a "sector perform" rating on shares of Enbridge in a report on Tuesday, August 5th. Argus upped their price objective on Enbridge from $50.00 to $54.00 and gave the stock a "buy" rating in a report on Tuesday, August 12th. Jefferies Financial Group upgraded Enbridge from a "hold" rating to a "buy" rating in a report on Wednesday, July 23rd. Finally, Wall Street Zen downgraded Enbridge from a "hold" rating to a "sell" rating in a report on Sunday, September 21st. Seven analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $60.50.

About Enbridge

Enbridge Inc, together with its subsidiaries, operates as an energy infrastructure company. The company operates through five segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution and Storage, Renewable Power Generation, and Energy Services. The Liquids Pipelines segment operates pipelines and related terminals to transport various grades of crude oil and other liquid hydrocarbons in Canada and the United States.

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