Copperleaf Capital LLC Takes $239,000 Position in Enbridge Inc $ENB

Key Points

• Copperleaf Capital LLC has acquired a new stake in Enbridge Inc, purchasing 5,396 shares valued at approximately $239,000 during the 1st quarter.
• Enbridge recently reported a quarterly earnings of $0.47 EPS, surpassing analyst estimates, with a revenue of $7.14 billion, notably below the anticipated $10.56 billion.
• The company has announced a recent increase in its quarterly dividend to $0.6839 per share, reflecting a yield of 5.7% and a notably high dividend payout ratio of 134.98%.

Copperleaf Capital LLC purchased a new stake in shares of Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 5,396 shares of the pipeline company's stock, valued at approximately $239,000.

Other large investors have also recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. raised its stake in shares of Enbridge by 137.9% in 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 purchasing an additional 19,074,827 shares in the last quarter. Nuveen LLC bought a new stake in Enbridge in the 1st quarter valued at $208,490,000. Deutsche Bank AG increased its holdings in Enbridge by 13.9% in the 4th quarter. Deutsche Bank AG now owns 36,336,212 shares of the pipeline company's stock valued at $1,541,745,000 after buying an additional 4,426,684 shares during the period. Canada Pension Plan Investment Board raised its stake in shares of Enbridge by 39.7% in the 1st quarter. Canada Pension Plan Investment Board now owns 9,525,987 shares of the pipeline company's stock valued at $421,675,000 after buying an additional 2,707,068 shares in the last quarter. Finally, Maple Brown Abbott Ltd bought a new position in shares of Enbridge during the 1st quarter worth about $77,976,000. Institutional investors and hedge funds own 54.60% of the company's stock.

Enbridge Price Performance

ENB traded up $0.09 during trading on Monday, hitting $48.35. The company's stock had a trading volume of 2,125,451 shares, compared to its average volume of 3,966,226. 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 stock has a market capitalization of $105.42 billion, a price-to-earnings ratio of 23.82, a price-to-earnings-growth ratio of 4.41 and a beta of 0.80. The firm's 50 day moving average price is $46.28 and its two-hundred day moving average price is $45.16. Enbridge Inc has a 12 month low of $39.73 and a 12 month high of $48.68.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last announced its earnings results on Friday, August 1st. The pipeline company reported $0.47 earnings per share for the quarter, beating analysts' consensus estimates of $0.41 by $0.06. The company had revenue of $7.14 billion during the quarter, compared to analyst estimates of $10.56 billion. Enbridge had a return on equity of 10.77% and a net margin of 10.11%.During the same period last year, the company posted $0.58 earnings per share. Sell-side analysts forecast 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. Stockholders of record on Friday, August 15th were given a dividend of $0.6839 per share. The ex-dividend date was Friday, August 15th. This is a positive change from Enbridge's previous quarterly dividend of $0.68. This represents a $2.74 dividend on an annualized basis and a dividend yield of 5.7%. Enbridge's dividend payout ratio (DPR) is currently 134.98%.

Analysts Set New Price Targets

ENB has been the topic of several recent research reports. Royal Bank Of Canada reiterated an "outperform" rating and set a $67.00 target price on shares of Enbridge in a research report on Monday, May 12th. BMO Capital Markets restated a "market perform" rating on shares of Enbridge in a research note on Monday, May 12th. Argus upped their price objective on Enbridge from $50.00 to $54.00 and gave the company a "buy" rating in a research note on Tuesday, August 12th. Jefferies Financial Group raised Enbridge from a "hold" rating to a "buy" rating in a report on Wednesday, July 23rd. Finally, Wall Street Zen downgraded Enbridge from a "hold" rating to a "sell" rating in a research report on Saturday, August 30th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $60.50.

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.