Amundi Grows Stock Position in Enbridge Inc $ENB

Key Points

• Amundi increased its Enbridge position by 8.5% in the second quarter, adding 936,435 shares to own 11.95 million shares valued at approximately $647.7 million. Institutional investors collectively own 54.6% of the company.
• Analyst sentiment remains generally positive, with Enbridge carrying a “Moderate Buy” consensus rating and an average price target of $67.00, despite one recent downgrade to “Market Perform.”
• Enbridge exceeded quarterly expectations with EPS of $0.46 versus $0.43 expected and revenue of $9.70 billion. The company also pays a quarterly dividend of $0.97 per share, representing a 7.7% annualized yield.

Amundi lifted its position in Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB by 8.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,948,497 shares of the pipeline company's stock after acquiring an additional 936,435 shares during the period. Amundi owned 0.55% of Enbridge worth $647,728,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Brighton Jones LLC acquired a new position in Enbridge during the fourth quarter worth about $261,000. AQR Capital Management LLC boosted its holdings in shares of Enbridge by 68.5% during the 1st quarter. AQR Capital Management LLC now owns 28,533 shares of the pipeline company's stock worth $1,264,000 after purchasing an additional 11,599 shares during the last quarter. AXA S.A. boosted its holdings in shares of Enbridge by 15.5% during the 2nd quarter. AXA S.A. now owns 113,887 shares of the pipeline company's stock worth $5,161,000 after purchasing an additional 15,259 shares during the last quarter. Diversify Advisory Services LLC grew its position in shares of Enbridge by 93.1% in the second quarter. Diversify Advisory Services LLC now owns 22,016 shares of the pipeline company's stock valued at $1,042,000 after purchasing an additional 10,617 shares in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its position in shares of Enbridge by 80.1% in the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 78,507 shares of the pipeline company's stock valued at $3,553,000 after purchasing an additional 34,912 shares in the last quarter. 54.60% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on ENB. Wolfe Research set a $50.00 price objective on Enbridge in a research report on Tuesday, August 4th. Canadian Imperial Bank of Commerce upgraded Enbridge from a "neutral" rating to a "sector outperform" rating in a report on Thursday, August 27th. US Capital Advisors upgraded Enbridge from a "hold" rating to a "moderate buy" rating in a report on Thursday, August 20th. Scotiabank reissued an "outperform" rating on shares of Enbridge in a research report on Tuesday, July 21st. Finally, Raymond James Financial lowered shares of Enbridge from an "outperform" rating to a "market perform" rating in a report on Friday, July 31st. Six analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $67.00.

Enbridge Price Performance

NYSE:ENB opened at $50.14 on Monday. Enbridge Inc has a 52 week low of $45.03 and a 52 week high of $58.45. The stock's fifty day moving average is $53.12 and its two-hundred day moving average is $53.96. The company has a market capitalization of $109.51 billion, a P/E ratio of 26.81, a P/E/G ratio of 5.94 and a beta of 0.57. The company has a quick ratio of 0.66, a current ratio of 0.72 and a debt-to-equity ratio of 1.69.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last issued its quarterly earnings data on Friday, July 31st. The pipeline company reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.03. The firm had revenue of $9.70 billion for the quarter, compared to analyst estimates of $8.67 billion. Enbridge had a net margin of 7.20% and a return on equity of 11.17%. During the same period in the previous year, the firm earned $0.65 EPS. Equities analysts expect that Enbridge Inc will post 2.11 EPS for the current year.

Enbridge Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Friday, August 14th were paid a dividend of $0.97 per share. This represents a $3.88 dividend on an annualized basis and a yield of 7.7%. The ex-dividend date was Friday, August 14th. Enbridge's dividend payout ratio is 147.06%.

About Enbridge

Enbridge Inc is a Calgary, Alberta–based energy infrastructure company that develops, owns and operates a diversified portfolio of energy transportation, distribution and generation assets. Its core activities include the operation of crude oil and liquids pipelines, natural gas transmission and distribution systems, and energy storage facilities. In addition to midstream transportation and storage, Enbridge has expanded into renewable power generation and energy transition projects, including wind, solar and utility-scale generation assets.

The company serves customers primarily in Canada and the United States and has interests in other international energy projects.

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