Miller Howard Investments Inc. NY Raises Stake in Enbridge Inc $ENB

Key Points

• Miller Howard Investments Inc. NY raised its holdings in Enbridge Inc by 11.1% in the second quarter, making it the company's 22nd largest holding, valued at approximately $55.56 million.
• Enbridge recently reported earnings per share (EPS) of $0.47 for the last quarter, exceeding the consensus estimate of $0.41, while its revenue was $7.14 billion, significantly lower than the expected $10.56 billion.
• The company announced a quarterly dividend of $0.6839 per share, increasing its annualized dividend to $2.74 and yielding 5.5% amidst a payout ratio of 134.98%.

Miller Howard Investments Inc. NY raised its holdings in Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB by 11.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,225,865 shares of the pipeline company's stock after buying an additional 122,658 shares during the period. Enbridge comprises about 1.8% of Miller Howard Investments Inc. NY's holdings, making the stock its 22nd largest position. Miller Howard Investments Inc. NY owned approximately 0.06% of Enbridge worth $55,556,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of ENB. Diversified Trust Co grew its position in shares of Enbridge by 4.8% in the 2nd quarter. Diversified Trust Co now owns 35,040 shares of the pipeline company's stock worth $1,588,000 after buying an additional 1,600 shares during the period. Kingstone Capital Partners Texas LLC bought a new position in shares of Enbridge during the 2nd quarter valued at approximately $3,736,000. Clare Market Investments LLC bought a new position in shares of Enbridge in the second quarter worth about $1,162,000. Ryan Investment Management Inc. bought a new position in Enbridge during the 2nd quarter worth about $46,000. Finally, Security National Bank boosted its stake in Enbridge by 205.3% in the 2nd quarter. Security National Bank now owns 3,578 shares of the pipeline company's stock worth $162,000 after purchasing an additional 2,406 shares in the last quarter. 54.60% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

ENB has been the topic of several recent research reports. National Bankshares reaffirmed a "sector perform" rating on shares of Enbridge in a research note on Tuesday, August 5th. Zacks Research downgraded Enbridge from a "strong-buy" rating to a "hold" rating in a report on Wednesday, September 17th. Jefferies Financial Group upgraded Enbridge from a "hold" rating to a "buy" rating in a report on Wednesday, July 23rd. Argus lifted their price target on Enbridge from $50.00 to $54.00 and gave the company a "buy" rating in a report on Tuesday, August 12th. Finally, Wall Street Zen lowered Enbridge from a "hold" rating to a "sell" rating in a research report on Sunday. Six analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, Enbridge currently has a consensus rating of "Moderate Buy" and a consensus price target of $60.50.

Enbridge Stock Performance

Shares of ENB stock traded up $0.45 on Tuesday, reaching $49.64. The stock had a trading volume of 1,167,659 shares, compared to its average volume of 3,886,513. The company has a 50 day simple moving average of $47.22 and a 200 day simple moving average of $45.70. The stock has a market cap of $108.26 billion, a P/E ratio of 24.45, a price-to-earnings-growth ratio of 4.52 and a beta of 0.80. Enbridge Inc has a 1 year low of $39.73 and a 1 year high of $49.60. 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 issued its quarterly earnings data on Friday, August 1st. The pipeline company reported $0.47 EPS for the quarter, topping analysts' consensus estimates of $0.41 by $0.06. Enbridge had a net margin of 10.11% and a return on equity of 10.77%. The business had revenue of $7.14 billion during the quarter, compared to analysts' expectations of $10.56 billion. During the same period last year, the company posted $0.58 EPS. Equities research analysts expect that Enbridge Inc will post 2.14 EPS for the current year.

Enbridge Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 1st. Stockholders of record on Friday, August 15th were given a $0.6839 dividend. This represents a $2.74 annualized dividend and a dividend yield of 5.5%. The ex-dividend date of this dividend was Friday, August 15th. This is a boost from Enbridge's previous quarterly dividend of $0.68. Enbridge's dividend payout ratio is currently 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.