American Century Companies Inc. Buys 8,663 Shares of Enbridge Inc $ENB

Key Points

• American Century Companies Inc. increased its stake in Enbridge Inc. by 3.9% during the first quarter, owning 231,686 shares valued at $10.25 million.
• Enbridge announced a quarterly dividend increase to $0.6839, with a yield of 5.8%, payable on September 1st.
• Analysts have set a consensus price target of $60.50 for Enbridge, with mixed ratings from various firms including one Strong Buy and six Buy ratings.

American Century Companies Inc. grew its stake in Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB by 3.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 231,686 shares of the pipeline company's stock after purchasing an additional 8,663 shares during the period. American Century Companies Inc.'s holdings in Enbridge were worth $10,255,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Dagco Inc. bought a new stake in shares of Enbridge in the 1st quarter valued at approximately $25,000. Garde Capital Inc. bought a new stake in shares of Enbridge in the 1st quarter valued at approximately $26,000. Financial Gravity Asset Management Inc. bought a new stake in shares of Enbridge in the 1st quarter valued at approximately $28,000. Accent Capital Management LLC bought a new stake in shares of Enbridge in the 1st quarter valued at approximately $30,000. Finally, Wolff Wiese Magana LLC grew its stake in shares of Enbridge by 91.3% in the 1st quarter. Wolff Wiese Magana LLC now owns 765 shares of the pipeline company's stock valued at $34,000 after purchasing an additional 365 shares during the period. 54.60% of the stock is currently owned by institutional investors.

Enbridge Trading Up 1.2%

ENB traded up $0.58 during mid-day trading on Friday, reaching $48.39. The stock had a trading volume of 3,529,455 shares, compared to its average volume of 3,988,969. The stock has a market capitalization of $105.51 billion, a P/E ratio of 23.84, a P/E/G ratio of 4.37 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. The firm's fifty day simple moving average is $45.86 and its two-hundred day simple moving average is $44.95. Enbridge Inc has a 52 week low of $39.30 and a 52 week high of $48.59.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last announced its quarterly earnings data on Friday, August 1st. The pipeline company reported $0.47 EPS for the quarter, beating analysts' consensus estimates of $0.41 by $0.06. The firm had revenue of $7.14 billion for 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 earned $0.58 EPS. On average, equities analysts predict that Enbridge Inc will post 2.14 EPS for the current year.

Enbridge Increases Dividend

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

Analysts Set New Price Targets

ENB has been the topic of several analyst reports. Jefferies Financial Group upgraded Enbridge from a "hold" rating to a "buy" rating in a research note on Wednesday, July 23rd. Royal Bank Of Canada reiterated an "outperform" rating and issued a $67.00 price objective on shares of Enbridge in a research note 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. Zacks Research upgraded Enbridge from a "hold" rating to a "strong-buy" rating in a research report on Friday, August 15th. Finally, Argus increased their price target on Enbridge from $50.00 to $54.00 and gave the stock a "buy" rating in a research report on Tuesday, August 12th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $60.50.

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.