Aviso Financial Inc. Purchases 38,981 Shares of Enbridge Inc $ENB

Key Points

• Aviso Financial Inc. increased its stake in Enbridge Inc by 2.7% in the first quarter, now owning approximately $64.49 million worth of shares.
• Enbridge reported a beat in quarterly earnings with $0.47 EPS, surpassing estimates of $0.41, despite a revenue of $7.14 billion that fell short of the consensus estimate.
• The company has announced a quarterly dividend increase to $0.6839 per share, marking a dividend yield of 5.8%, with a payout ratio of approximately 135%.

Aviso Financial Inc. increased its holdings in Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB by 2.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,456,565 shares of the pipeline company's stock after acquiring an additional 38,981 shares during the period. Enbridge comprises about 3.2% of Aviso Financial Inc.'s holdings, making the stock its 9th largest holding. Aviso Financial Inc. owned approximately 0.07% of Enbridge worth $64,490,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. lifted its stake in Enbridge by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 93,187,025 shares of the pipeline company's stock worth $4,124,271,000 after acquiring an additional 1,569,879 shares in the last quarter. GQG Partners LLC raised its stake in shares of Enbridge by 1.5% during the 1st quarter. GQG Partners LLC now owns 75,439,320 shares of the pipeline company's stock worth $3,338,405,000 after purchasing an additional 1,148,580 shares in the last quarter. TD Asset Management Inc raised its stake in shares of Enbridge by 1.3% during the 1st quarter. TD Asset Management Inc now owns 39,265,817 shares of the pipeline company's stock worth $1,737,602,000 after purchasing an additional 513,058 shares in the last quarter. Deutsche Bank AG raised its stake in shares of Enbridge by 13.9% during the 4th quarter. Deutsche Bank AG now owns 36,336,212 shares of the pipeline company's stock worth $1,541,745,000 after purchasing an additional 4,426,684 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its stake in shares of Enbridge by 137.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 32,907,433 shares of the pipeline company's stock worth $1,458,128,000 after purchasing an additional 19,074,827 shares in the last quarter. 54.60% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on ENB shares. Argus raised their price target on Enbridge from $50.00 to $54.00 and gave the stock a "buy" rating in a research note on Tuesday, August 12th. Royal Bank Of Canada reissued an "outperform" rating and issued a $67.00 price objective on shares of Enbridge in a research note on Monday, May 12th. Wall Street Zen raised Enbridge from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd. 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 research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Enbridge presently has a consensus rating of "Moderate Buy" and an average target price of $60.50.

Enbridge Stock Performance

NYSE ENB traded up $0.0050 during trading on Friday, hitting $47.9450. The company's stock had a trading volume of 5,030,181 shares, compared to its average volume of 3,850,256. 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 firm has a 50 day moving average price of $45.69 and a 200 day moving average price of $44.86. The firm has a market cap of $104.55 billion, a P/E ratio of 23.62, a price-to-earnings-growth ratio of 4.38 and a beta of 0.79. Enbridge Inc has a 52 week low of $39.25 and a 52 week high of $48.29.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last issued its quarterly earnings results on Friday, August 1st. The pipeline company reported $0.47 EPS for the quarter, topping the consensus estimate of $0.41 by $0.06. The company had revenue of $7.14 billion for the quarter, compared to the consensus estimate of $10.56 billion. Enbridge had a return on equity of 10.77% and a net margin of 10.11%.During the same period in the previous year, the business posted $0.58 EPS. Equities research analysts forecast that Enbridge Inc will post 2.14 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 1st. Stockholders of record on Friday, August 15th will be issued a dividend of $0.6839 per share. This represents a $2.74 annualized dividend and a dividend yield of 5.7%. The ex-dividend date of this dividend is Friday, August 15th. This is a boost from Enbridge's previous quarterly dividend of $0.68. Enbridge's payout ratio is 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.