Enbridge Inc (NYSE:ENB) Stock Position Lessened by AGF Management Ltd.

Key Points

• AGF Management Ltd. reduced its stake in Enbridge Inc. by 26.1% in Q1, owning approximately 2.91 million shares worth $129 million.
• Enbridge reported a quarterly EPS of $0.47, exceeding expectations and demonstrating a net margin of 10.11%.
• The company declared a dividend increase to $0.6839 per share, representing an annual yield of 5.8% and a payout ratio of 133.99%.

AGF Management Ltd. decreased its position in Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB by 26.1% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,913,700 shares of the pipeline company's stock after selling 1,031,597 shares during the quarter. AGF Management Ltd. owned about 0.13% of Enbridge worth $129,106,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC boosted its holdings in Enbridge by 6.1% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 438,557 shares of the pipeline company's stock worth $19,431,000 after acquiring an additional 25,071 shares during the period. Canada Pension Plan Investment Board raised its position in shares of Enbridge by 20.0% in the 4th quarter. Canada Pension Plan Investment Board now owns 6,818,919 shares of the pipeline company's stock valued at $289,044,000 after purchasing an additional 1,135,000 shares in the last quarter. Hartline Investment Corp raised its position in shares of Enbridge by 31.3% in the 1st quarter. Hartline Investment Corp now owns 36,098 shares of the pipeline company's stock valued at $1,600,000 after purchasing an additional 8,610 shares in the last quarter. Wellington Management Group LLP raised its position in shares of Enbridge by 0.7% in the 4th quarter. Wellington Management Group LLP now owns 1,150,521 shares of the pipeline company's stock valued at $48,806,000 after purchasing an additional 7,890 shares in the last quarter. Finally, JBR Co Financial Management Inc acquired a new position in shares of Enbridge in the 1st quarter valued at approximately $330,000. Institutional investors and hedge funds own 54.60% of the company's stock.

Analyst Upgrades and Downgrades

ENB has been the topic of a number of recent analyst reports. Wall Street Zen raised Enbridge from a "sell" rating to a "hold" rating in a research report on Thursday, May 22nd. Raymond James Financial raised Enbridge to a "moderate buy" rating in a research report on Wednesday, April 23rd. Royal Bank Of Canada reissued an "outperform" rating and set a $67.00 price target on shares of Enbridge in a research report on Monday, May 12th. Jefferies Financial Group raised Enbridge from a "hold" rating to a "buy" rating in a research report on Wednesday, July 23rd. Finally, National Bankshares reissued a "sector perform" rating on shares of Enbridge in a research report on Tuesday, August 5th. Five analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $60.50.

Enbridge Stock Performance

NYSE ENB traded up $0.53 during trading hours on Thursday, hitting $48.21. The company had a trading volume of 3,567,972 shares, compared to its average volume of 4,022,381. Enbridge Inc has a fifty-two week low of $38.44 and a fifty-two week high of $48.21. The company has a quick ratio of 0.65, a current ratio of 0.75 and a debt-to-equity ratio of 1.58. The business has a fifty day simple moving average of $45.51 and a 200-day simple moving average of $44.69. The firm has a market cap of $105.11 billion, a P/E ratio of 23.75, a price-to-earnings-growth ratio of 4.35 and a beta of 0.79.

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 return on equity of 10.77% and a net margin of 10.11%. The company had revenue of $7.14 billion during the quarter, compared to analysts' expectations of $10.56 billion. During the same quarter in the prior year, the business posted $0.58 earnings per share. Equities analysts predict that Enbridge Inc will post 2.14 EPS for the current year.

Enbridge Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 1st. Stockholders of record on Friday, August 15th will be paid a $0.6839 dividend. The ex-dividend date of this dividend is Friday, August 15th. This is a positive change from Enbridge's previous quarterly dividend of $0.68. This represents a $2.74 annualized dividend and a dividend yield of 5.7%. Enbridge's dividend payout ratio (DPR) is currently 134.98%.

Enbridge Company 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.