Border to Coast Pensions Partnership Ltd Purchases 25,000 Shares of Enbridge Inc $ENB

Key Points

• Border to Coast Pensions Partnership Ltd increased its stake in Enbridge Inc by 2.4% in the second quarter, acquiring an additional 25,000 shares, bringing its total holdings to approximately 1,075,000 shares worth $48.6 million.
• Enbridge recently declared a quarterly dividend of $0.6839 per share, resulting in an annualized dividend yield of 5.5%, which marks an increase from the previous quarter's amount.
• The stock has received mixed ratings from analysts, with six giving it a Buy rating and five a Hold rating, while the consensus target price stands at $60.50.

Border to Coast Pensions Partnership Ltd raised its position in Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB by 2.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,075,000 shares of the pipeline company's stock after buying an additional 25,000 shares during the period. Border to Coast Pensions Partnership Ltd's holdings in Enbridge were worth $48,649,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Dagco Inc. purchased a new position in shares of Enbridge during the 1st quarter valued at approximately $25,000. Garde Capital Inc. bought a new stake in shares of Enbridge in the 1st quarter worth about $26,000. Financial Gravity Asset Management Inc. bought a new stake in shares of Enbridge in the 1st quarter worth about $28,000. Accent Capital Management LLC acquired a new stake in shares of Enbridge in the 1st quarter valued at about $30,000. Finally, Wolff Wiese Magana LLC lifted its position in shares of Enbridge by 91.3% during the first quarter. Wolff Wiese Magana LLC now owns 765 shares of the pipeline company's stock worth $34,000 after purchasing an additional 365 shares during the last quarter. 54.60% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have issued reports on ENB shares. 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. Wall Street Zen lowered Enbridge from a "hold" rating to a "sell" rating in a research report on Sunday. Zacks Research downgraded shares of Enbridge from a "strong-buy" rating to a "hold" rating in a report on Wednesday, September 17th. Jefferies Financial Group raised shares of Enbridge from a "hold" rating to a "buy" rating in a report on Wednesday, July 23rd. Finally, National Bankshares reaffirmed a "sector perform" rating on shares of Enbridge in a report on Tuesday, August 5th. Six investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $60.50.

Enbridge Stock Up 0.9%

Shares of NYSE:ENB traded up $0.45 during midday trading on Tuesday, hitting $49.64. 2,001,428 shares of the stock were exchanged, compared to its average volume of 3,890,692. 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 Inc has a 52-week low of $39.73 and a 52-week high of $49.82. The business's fifty day simple moving average is $47.22 and its two-hundred day simple moving average is $45.70. The company has a market capitalization of $108.25 billion, a PE ratio of 24.45, a P/E/G ratio of 4.52 and a beta of 0.80.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last issued its 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. The company 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 in the prior year, the firm posted $0.58 EPS. As a group, research analysts predict that Enbridge Inc will post 2.14 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 1st. Shareholders of record on Friday, August 15th were given a dividend of $0.6839 per share. The ex-dividend date of this dividend was Friday, August 15th. This is a positive change from Enbridge's previous quarterly dividend of $0.68. This represents a $2.74 annualized dividend and a yield of 5.5%. Enbridge's dividend payout ratio (DPR) is currently 134.98%.

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.