Acadian Asset Management LLC Has $5.83 Million Holdings in Enbridge Inc $ENB

Key Points

• Acadian Asset Management LLC increased its holdings in Enbridge Inc by 83.7% during the first quarter, now owning 131,671 shares valued at approximately $5.83 million.
• Enbridge recently declared a quarterly dividend of $0.6839 per share, resulting in a 5.6% yield and slight increase from the previous quarter's dividend.
• Following analysts' upgrades, Enbridge has a consensus rating of "Moderate Buy" with an average price target of $60.50.

Acadian Asset Management LLC boosted its position in shares of Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB by 83.7% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 131,671 shares of the pipeline company's stock after buying an additional 60,002 shares during the period. Acadian Asset Management LLC's holdings in Enbridge were worth $5,829,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Dagco Inc. acquired a new stake in Enbridge during the first quarter worth about $25,000. Garde Capital Inc. bought a new position in shares of Enbridge in the first quarter worth about $26,000. Financial Gravity Asset Management Inc. bought a new position in shares of Enbridge in the first quarter worth about $28,000. Accent Capital Management LLC bought a new position in shares of Enbridge in the first quarter worth about $30,000. Finally, Wolff Wiese Magana LLC lifted its holdings in shares of Enbridge by 91.3% in the first quarter. Wolff Wiese Magana LLC now owns 765 shares of the pipeline company's stock worth $34,000 after acquiring an additional 365 shares during the last quarter. 54.60% of the stock is currently owned by institutional investors and hedge funds.

Enbridge Stock Up 0.6%

Shares of NYSE ENB opened at $49.11 on Friday. The company has a 50 day simple moving average of $46.65 and a 200 day simple moving average of $45.38. The firm has a market cap of $107.10 billion, a PE ratio of 24.19, a price-to-earnings-growth ratio of 4.46 and a beta of 0.80. Enbridge Inc has a 1 year low of $39.73 and a 1 year high of $49.11. The company has a debt-to-equity ratio of 1.58, a current ratio of 0.75 and a quick ratio of 0.65.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last released its quarterly earnings results on Friday, August 1st. The pipeline company reported $0.47 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analyst estimates of $10.56 billion. During the same quarter last year, the business earned $0.58 EPS. On average, research analysts forecast that Enbridge Inc will post 2.14 EPS for the current year.

Enbridge Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 1st. Shareholders of record on Friday, August 15th were issued a dividend of $0.6839 per share. This represents a $2.74 annualized dividend and a yield of 5.6%. The ex-dividend date was Friday, August 15th. This is a positive change from Enbridge's previous quarterly dividend of $0.68. Enbridge's dividend payout ratio (DPR) is 134.98%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on ENB shares. National Bankshares reissued a "sector perform" rating on shares of Enbridge in a report on Tuesday, August 5th. Wall Street Zen raised shares of Enbridge from a "sell" rating to a "hold" rating in a report on Saturday. Argus increased their target price on shares of Enbridge from $50.00 to $54.00 and gave the stock a "buy" rating in a report on Tuesday, August 12th. Zacks Research raised shares of Enbridge from a "hold" rating to a "strong-buy" rating in a report on Friday, August 15th. Finally, Jefferies Financial Group raised shares of Enbridge from a "hold" rating to a "buy" rating in a report on Wednesday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and four have given a Hold rating to the company. According to MarketBeat, Enbridge has a consensus rating of "Moderate Buy" and an average price target of $60.50.

Enbridge Profile

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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