Cresset Asset Management LLC Has $3.96 Million Position in Enbridge Inc $ENB

Key Points

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Cresset Asset Management LLC increased its position in Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB by 63.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 89,355 shares of the pipeline company's stock after purchasing an additional 34,633 shares during the quarter. Cresset Asset Management LLC's holdings in Enbridge were worth $3,958,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Dagco Inc. bought a new position in Enbridge in the first quarter worth $25,000. Garde Capital Inc. bought a new position in Enbridge in the first quarter worth $26,000. Financial Gravity Asset Management Inc. acquired a new position in Enbridge during the first quarter worth $28,000. Accent Capital Management LLC acquired a new position in Enbridge during the first quarter worth $30,000. Finally, GeoWealth Management LLC raised its stake in Enbridge by 436.4% during the fourth quarter. GeoWealth Management LLC now owns 751 shares of the pipeline company's stock worth $32,000 after acquiring an additional 611 shares in the last quarter. 54.60% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms have issued reports on ENB. Wall Street Zen upgraded Enbridge from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd. Jefferies Financial Group upgraded Enbridge from a "hold" rating to a "buy" rating in a research note on Wednesday, July 23rd. Zacks Research upgraded Enbridge from a "hold" rating to a "strong-buy" rating in a research note on Friday, August 15th. Royal Bank Of Canada reiterated an "outperform" rating and issued a $67.00 price target on shares of Enbridge in a report on Monday, May 12th. Finally, National Bankshares reiterated a "sector perform" rating on shares of Enbridge in a report 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 issued a Hold rating to the stock. According to data from MarketBeat, Enbridge presently has an average rating of "Moderate Buy" and a consensus target price of $60.50.

Enbridge Stock Up 0.0%

Enbridge stock traded up $0.0050 during midday trading on Friday, reaching $47.9450. The stock had a trading volume of 5,030,181 shares, compared to its average volume of 3,850,256. The firm's fifty day simple moving average is $45.69 and its 200-day simple moving average is $44.86. Enbridge Inc has a 1-year low of $39.25 and a 1-year high of $48.29. The stock has a market capitalization 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. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.65 and a current ratio of 0.75.

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 (EPS) for the quarter, beating analysts' consensus estimates of $0.41 by $0.06. Enbridge had a return on equity of 10.77% 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 last year, the firm earned $0.58 EPS. As a group, analysts expect that Enbridge Inc will post 2.14 EPS for the current fiscal year.

Enbridge Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 1st. Shareholders of record on Friday, August 15th will be given a dividend of $0.6839 per share. This is a positive change from Enbridge's previous quarterly dividend of $0.68. The ex-dividend date of this dividend is Friday, August 15th. This represents a $2.74 annualized dividend and a dividend yield of 5.7%. Enbridge's payout ratio is presently 134.98%.

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.