Enbridge Inc (NYSE:ENB) Stock Holdings Lifted by Bank of Nova Scotia Trust Co.

Key Points

• Bank of Nova Scotia Trust Co. increased its stake in Enbridge Inc by 0.7%, holding a total of 970,103 shares worth approximately $42.99 million.
• Enbridge recently declared a quarterly dividend of $0.6839 per share, a slight increase from the previous dividend, with a yield of 5.9%.
• The company reported EPS of $0.72 for the quarter, surpassing analysts' expectations, alongside revenues of $7.27 billion, which fell short of estimates.

Bank of Nova Scotia Trust Co. boosted its position in Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB by 0.7% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 970,103 shares of the pipeline company's stock after purchasing an additional 6,566 shares during the quarter. Enbridge makes up approximately 4.6% of Bank of Nova Scotia Trust Co.'s investment portfolio, making the stock its 4th largest holding. Bank of Nova Scotia Trust Co.'s holdings in Enbridge were worth $42,985,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in ENB. Garde Capital Inc. purchased a new stake in Enbridge during the 1st quarter worth approximately $26,000. Financial Gravity Asset Management Inc. purchased a new stake in Enbridge in the first quarter valued at approximately $28,000. GeoWealth Management LLC increased its holdings in Enbridge by 436.4% in the 4th quarter. GeoWealth Management LLC now owns 751 shares of the pipeline company's stock worth $32,000 after buying an additional 611 shares during the period. Wolff Wiese Magana LLC increased its holdings in Enbridge by 91.3% in the 1st quarter. Wolff Wiese Magana LLC now owns 765 shares of the pipeline company's stock worth $34,000 after buying an additional 365 shares during the period. Finally, Capital A Wealth Management LLC acquired a new position in Enbridge in the 4th quarter worth approximately $39,000. 54.60% of the stock is currently owned by institutional investors.

Enbridge Stock Performance

Enbridge stock traded up $0.89 during mid-day trading on Friday, hitting $46.18. The company had a trading volume of 4,569,736 shares, compared to its average volume of 4,006,612. The company has a current ratio of 0.73, a quick ratio of 0.66 and a debt-to-equity ratio of 1.51. Enbridge Inc has a 12-month low of $36.50 and a 12-month high of $47.44. The company's fifty day moving average is $45.39 and its 200-day moving average is $44.55. The company has a market capitalization of $100.70 billion, a price-to-earnings ratio of 22.75, a P/E/G ratio of 4.30 and a beta of 0.79.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last released its quarterly earnings data on Friday, August 1st. The pipeline company reported $0.47 EPS for the quarter, topping the consensus estimate of $0.41 by $0.06. Enbridge had a return on equity of 10.73% and a net margin of 10.11%. The business had revenue of $7.14 billion for the quarter, compared to analyst estimates of $10.56 billion. During the same quarter in the prior year, the firm posted $0.58 EPS. Equities research analysts predict that Enbridge Inc will post 2.14 EPS for the current year.

Enbridge Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 1st. Shareholders of record on Friday, August 15th will be given a $0.6839 dividend. The ex-dividend date is Friday, August 15th. This represents a $2.74 annualized dividend and a yield of 5.9%. This is a boost from Enbridge's previous quarterly dividend of $0.68. Enbridge's payout ratio is currently 140.21%.

Wall Street Analysts Forecast Growth

ENB has been the topic of several research reports. Wall Street Zen upgraded shares of Enbridge from a "sell" rating to a "hold" rating in a report on Thursday, May 22nd. Raymond James Financial upgraded shares of Enbridge to a "moderate buy" rating in a report on Wednesday, April 23rd. BMO Capital Markets reiterated a "market perform" rating on shares of Enbridge in a report on Monday, May 12th. Jefferies Financial Group upgraded shares of Enbridge from a "hold" rating to a "buy" rating in a report on Wednesday, July 23rd. Finally, National Bankshares reiterated a "sector perform" rating on shares of Enbridge in a report on Monday, May 12th. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat, Enbridge has a consensus rating of "Moderate Buy" and an average target price of $67.00.

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.