Ascent Group LLC Invests $390,000 in Enbridge Inc $ENB

Key Points

• Ascent Group LLC has acquired a new stake in Enbridge Inc, purchasing 8,801 shares valued at approximately $390,000 in the first quarter.
• Enbridge's quarterly dividend was increased to $0.6839, resulting in an annualized dividend yield of 5.6%, compared to the previous quarterly dividend of $0.68.
• Enbridge reported earnings of $0.47 per share, exceeding expectations, while analysts estimate a full-year EPS of $2.14 for the company.

Ascent Group LLC bought a new stake in shares of Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund bought 8,801 shares of the pipeline company's stock, valued at approximately $390,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Dagco Inc. purchased a new position in Enbridge during the 1st quarter valued at about $25,000. Garde Capital Inc. purchased a new position in Enbridge during the 1st quarter valued at about $26,000. Financial Gravity Asset Management Inc. purchased a new position in Enbridge during the 1st quarter valued at about $28,000. Accent Capital Management LLC purchased a new position in Enbridge during the 1st quarter valued at about $30,000. Finally, Wolff Wiese Magana LLC grew its stake in shares of Enbridge by 91.3% in the 1st quarter. Wolff Wiese Magana LLC now owns 765 shares of the pipeline company's stock valued at $34,000 after buying an additional 365 shares in the last quarter. Hedge funds and other institutional investors own 54.60% of the company's stock.

Wall Street Analyst Weigh In

ENB has been the subject of several recent research reports. Wall Street Zen raised Enbridge from a "sell" rating to a "hold" rating in a research note on Saturday. Argus boosted their price target on Enbridge from $50.00 to $54.00 and gave the company a "buy" rating in a research note on Tuesday, August 12th. Zacks Research raised Enbridge from a "hold" rating to a "strong-buy" rating in a research note on Friday, August 15th. Jefferies Financial Group raised Enbridge from a "hold" rating to a "buy" rating in a research note on Wednesday, July 23rd. Finally, National Bankshares reissued a "sector perform" rating on shares of Enbridge in a research note on Tuesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, Enbridge currently has an average rating of "Moderate Buy" and an average price target of $60.50.

Enbridge Stock Performance

ENB traded up $0.30 on Friday, hitting $49.11. The company had a trading volume of 2,011,439 shares, compared to its average volume of 3,006,375. The company's fifty day moving average price is $46.65 and its 200 day moving average price is $45.38. 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. The stock has a market cap of $107.10 billion, a price-to-earnings ratio of 24.19, a price-to-earnings-growth ratio of 4.49 and a beta of 0.80.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last posted its earnings results on Friday, August 1st. The pipeline company reported $0.47 earnings per share 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 firm had revenue of $7.14 billion during the quarter, compared to analyst estimates of $10.56 billion. During the same period in the previous year, the company earned $0.58 EPS. Equities analysts predict that Enbridge Inc will post 2.14 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 1st. Investors of record on Friday, August 15th were issued a $0.6839 dividend. This is an increase from Enbridge's previous quarterly dividend of $0.68. The ex-dividend date was Friday, August 15th. This represents a $2.74 annualized dividend and a yield of 5.6%. Enbridge's dividend payout ratio is presently 134.98%.

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.