Dimensional Fund Advisors LP Boosts Position in Enbridge Inc $ENB

Key Points

• Dimensional Fund Advisors LP increased its holdings in Enbridge Inc by 4.1%, bringing its total ownership to 2,856,499 shares valued at approximately $126.57 million.
• Enbridge announced a quarterly dividend of $0.6839 per share, reflecting a 5.7% yield and an increase from the previous dividend.
• The company's recent earnings report revealed an EPS of $0.47, surpassing analyst expectations, despite revenue being below estimates at $7.14 billion.

Dimensional Fund Advisors LP lifted its position in shares of Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB by 4.1% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,856,499 shares of the pipeline company's stock after purchasing an additional 113,098 shares during the quarter. Dimensional Fund Advisors LP owned about 0.13% of Enbridge worth $126,573,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. boosted 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 purchasing an additional 1,569,879 shares in the last quarter. GQG Partners LLC boosted its holdings in Enbridge by 1.5% in the first quarter. GQG Partners LLC now owns 75,439,320 shares of the pipeline company's stock worth $3,338,405,000 after acquiring an additional 1,148,580 shares in the last quarter. TD Asset Management Inc boosted its holdings in Enbridge by 1.3% in the first quarter. TD Asset Management Inc now owns 39,265,817 shares of the pipeline company's stock worth $1,737,602,000 after acquiring an additional 513,058 shares in the last quarter. Deutsche Bank AG boosted its holdings in Enbridge by 13.9% in the fourth quarter. Deutsche Bank AG now owns 36,336,212 shares of the pipeline company's stock worth $1,541,745,000 after acquiring an additional 4,426,684 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its holdings in Enbridge by 137.9% in the first quarter. Goldman Sachs Group Inc. now owns 32,907,433 shares of the pipeline company's stock worth $1,458,128,000 after acquiring an additional 19,074,827 shares in the last quarter. 54.60% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have commented on the company. Royal Bank Of Canada reissued an "outperform" rating and issued a $67.00 target price on shares of Enbridge in a report on Monday, May 12th. BMO Capital Markets reissued a "market perform" rating on shares of Enbridge in a report on Monday, May 12th. Argus boosted their target price on Enbridge from $50.00 to $54.00 and gave the stock a "buy" rating in a report on Tuesday, August 12th. Zacks Research raised Enbridge from a "hold" rating to a "strong-buy" rating in a report on Friday, August 15th. Finally, Wall Street Zen raised Enbridge from a "sell" rating to a "hold" rating in a report on Thursday, May 22nd. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $60.50.

Enbridge Stock Down 0.5%

Shares of ENB stock traded down $0.22 during mid-day trading on Tuesday, hitting $47.38. The company's stock had a trading volume of 948,593 shares, compared to its average volume of 4,001,847. Enbridge Inc has a 52-week low of $39.26 and a 52-week high of $48.29. The business has a 50-day moving average price of $45.72 and a 200 day moving average price of $44.89. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.65 and a current ratio of 0.75. The stock has a market cap of $103.32 billion, a price-to-earnings ratio of 23.34, a PEG ratio of 4.39 and a beta of 0.79.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last posted its quarterly earnings results 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 10.77% and a net margin of 10.11%.The firm had revenue of $7.14 billion during the quarter, compared to analysts' expectations of $10.56 billion. During the same quarter in the previous year, the business earned $0.58 earnings per share. Research analysts predict that Enbridge Inc will post 2.14 EPS for the current fiscal year.

Enbridge Increases Dividend

The firm also recently declared 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 is an increase from Enbridge's previous quarterly dividend of $0.68. This represents a $2.74 annualized dividend and a dividend yield of 5.8%. The ex-dividend date is Friday, August 15th. Enbridge's dividend payout ratio (DPR) is presently 134.98%.

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.