Beacon Investment Advisory Services Inc. Buys 11,434 Shares of Enbridge Inc $ENB

Key Points

• Beacon Investment Advisory Services Inc. increased its stake in Enbridge Inc. by 8.1%, acquiring an additional 11,434 shares during the second quarter, bringing their total holdings to 152,543 shares valued at approximately $6.9 million.
• Despite some upgrades and downgrades by analysts, Enbridge has a consensus rating of "Moderate Buy" with a price target of $60.50, showing mixed sentiment among financial experts.
• Enbridge recently announced an increase in its quarterly dividend to $0.6839, reflecting a 5.5% yield, indicating commitment to returning value to shareholders despite a high payout ratio of 134.98%.

Beacon Investment Advisory Services Inc. boosted its stake in Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB by 8.1% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 152,543 shares of the pipeline company's stock after buying an additional 11,434 shares during the quarter. Beacon Investment Advisory Services Inc.'s holdings in Enbridge were worth $6,913,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of ENB. Vanguard Group Inc. increased its position in shares of Enbridge by 1.7% during the first quarter. Vanguard Group Inc. now owns 93,187,025 shares of the pipeline company's stock valued at $4,124,271,000 after acquiring an additional 1,569,879 shares during the last quarter. GQG Partners LLC increased its position in shares of Enbridge by 1.5% during the first quarter. GQG Partners LLC now owns 75,439,320 shares of the pipeline company's stock valued at $3,338,405,000 after acquiring an additional 1,148,580 shares during the last quarter. TD Asset Management Inc increased its position in shares of Enbridge by 1.3% during the first quarter. TD Asset Management Inc now owns 39,265,817 shares of the pipeline company's stock valued at $1,737,602,000 after acquiring an additional 513,058 shares during the last quarter. Goldman Sachs Group Inc. increased its position in shares of Enbridge by 137.9% during the first quarter. Goldman Sachs Group Inc. now owns 32,907,433 shares of the pipeline company's stock valued at $1,458,128,000 after acquiring an additional 19,074,827 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its position in shares of Enbridge by 10.5% during the first quarter. JPMorgan Chase & Co. now owns 17,643,681 shares of the pipeline company's stock valued at $781,792,000 after acquiring an additional 1,680,116 shares during the last quarter. 54.60% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently commented on the company. Zacks Research downgraded Enbridge from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, September 17th. Wall Street Zen downgraded Enbridge from a "hold" rating to a "sell" rating in a research report on Sunday. Argus raised their target price on Enbridge from $50.00 to $54.00 and gave the stock a "buy" rating in a research report on Tuesday, August 12th. National Bankshares reiterated a "sector perform" rating on shares of Enbridge in a research report on Tuesday, August 5th. Finally, Jefferies Financial Group raised Enbridge from a "hold" rating to a "buy" rating in a research note on Wednesday, July 23rd. Six investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $60.50.

Enbridge Stock Performance

Shares of ENB opened at $49.96 on Thursday. 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's 50 day moving average price is $47.40 and its 200-day moving average price is $45.75. Enbridge Inc has a 52 week low of $39.73 and a 52 week high of $50.15. The stock has a market cap of $108.94 billion, a P/E ratio of 24.61, a P/E/G ratio of 4.54 and a beta of 0.80.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last released its quarterly earnings data on Friday, August 1st. The pipeline company reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.06. The business had revenue of $7.14 billion for the quarter, compared to analysts' expectations 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 prior year, the firm posted $0.58 EPS. Equities research analysts anticipate 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. The ex-dividend date of this dividend was Friday, August 15th. This represents a $2.74 dividend on an annualized basis and a yield of 5.5%. This is an increase 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.

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