Commonwealth Equity Services LLC Purchases 15,651 Shares of Enbridge Inc (NYSE:ENB)

Key Points

• Commonwealth Equity Services LLC increased its holdings in Enbridge Inc by purchasing an additional 15,651 shares, bringing its total to 1,039,213 shares, valued at approximately $46 million.
• Enbridge recently announced a quarterly dividend of $0.6839 per share, which shows an increase from the previous dividend of $0.68, resulting in a dividend yield of 5.9%.
• Analysts have upgraded Enbridge from a "sell" to a "hold" rating, with multiple firms giving a "moderate buy" average rating and a price target of $67.00.

Commonwealth Equity Services LLC grew its position in shares of Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB by 1.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,039,213 shares of the pipeline company's stock after purchasing an additional 15,651 shares during the quarter. Commonwealth Equity Services LLC's holdings in Enbridge were worth $46,048,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of ENB. Brighton Jones LLC bought a new position in shares of Enbridge during the 4th quarter valued at about $261,000. Arete Wealth Advisors LLC bought a new position in Enbridge during the 4th quarter worth approximately $221,000. Prudential PLC grew its position in Enbridge by 37.5% during the 4th quarter. Prudential PLC now owns 15,947 shares of the pipeline company's stock worth $676,000 after acquiring an additional 4,346 shares during the last quarter. Envestnet Asset Management Inc. grew its position in Enbridge by 1.6% during the 4th quarter. Envestnet Asset Management Inc. now owns 3,788,300 shares of the pipeline company's stock worth $160,735,000 after acquiring an additional 61,006 shares during the last quarter. Finally, Cerity Partners LLC grew its position in Enbridge by 13.8% during the 4th quarter. Cerity Partners LLC now owns 217,115 shares of the pipeline company's stock worth $9,111,000 after acquiring an additional 26,301 shares during the last quarter. 54.60% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

Enbridge Trading Up 1.0%

NYSE ENB opened at $46.65 on Tuesday. Enbridge Inc has a fifty-two week low of $36.50 and a fifty-two week high of $47.44. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.66 and a current ratio of 0.73. The stock has a 50 day simple moving average of $45.40 and a two-hundred day simple moving average of $44.57. The stock has a market cap of $101.71 billion, a P/E ratio of 22.98, a price-to-earnings-growth 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 earnings per share 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 during the quarter, compared to analysts' expectations of $10.56 billion. During the same quarter last year, the business posted $0.58 EPS. On average, analysts forecast that Enbridge Inc will post 2.14 earnings per share for the current year.

Enbridge Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 1st. Stockholders of record on Friday, August 15th will be paid a $0.6839 dividend. This represents a $2.74 dividend on an annualized basis and a dividend yield of 5.9%. The ex-dividend date is Friday, August 15th. This is a boost from Enbridge's previous quarterly dividend of $0.68. Enbridge's dividend payout ratio (DPR) is 140.21%.

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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