Enbridge Inc $ENB Shares Acquired by Energy Income Partners LLC

Key Points

• Energy Income Partners LLC increased its holdings in Enbridge Inc by 1.5%, totaling approximately 1.8 million shares valued at around $81.88 million as of its latest SEC filing.
• Enbridge recently declared a quarterly dividend of $0.6839 per share, marking a slight increase from its previous dividend and reflecting an annualized yield of 5.7%.
• The company reported a Q2 earnings per share of $0.47, beating estimates, although its revenue fell short of expectations, bringing in $7.14 billion for the quarter.

Energy Income Partners LLC grew its stake in Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB by 1.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,847,927 shares of the pipeline company's stock after buying an additional 26,681 shares during the period. Enbridge accounts for 1.6% of Energy Income Partners LLC's investment portfolio, making the stock its 19th largest holding. Energy Income Partners LLC owned about 0.08% of Enbridge worth $81,882,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in shares of Enbridge by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 93,187,025 shares of the pipeline company's stock valued at $4,124,271,000 after buying an additional 1,569,879 shares in the last quarter. GQG Partners LLC boosted its stake in Enbridge by 1.5% during the 1st quarter. GQG Partners LLC now owns 75,439,320 shares of the pipeline company's stock worth $3,338,405,000 after purchasing an additional 1,148,580 shares during the period. TD Asset Management Inc boosted its stake in Enbridge by 1.3% during the 1st quarter. TD Asset Management Inc now owns 39,265,817 shares of the pipeline company's stock worth $1,737,602,000 after purchasing an additional 513,058 shares during the period. Deutsche Bank AG boosted its stake in Enbridge by 13.9% during the 4th quarter. Deutsche Bank AG now owns 36,336,212 shares of the pipeline company's stock worth $1,541,745,000 after purchasing an additional 4,426,684 shares during the period. Finally, Goldman Sachs Group Inc. boosted its stake in Enbridge by 137.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 32,907,433 shares of the pipeline company's stock worth $1,458,128,000 after purchasing an additional 19,074,827 shares during the period. Institutional investors and hedge funds own 54.60% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. National Bankshares reiterated a "sector perform" rating on shares of Enbridge in a research note on Tuesday, August 5th. Jefferies Financial Group upgraded shares of Enbridge from a "hold" rating to a "buy" rating in a research note on Wednesday, July 23rd. BMO Capital Markets reiterated a "market perform" rating on shares of Enbridge in a research note on Monday, May 12th. Zacks Research upgraded shares of Enbridge from a "hold" rating to a "strong-buy" rating in a research note on Friday, August 15th. Finally, Royal Bank Of Canada restated an "outperform" rating and issued a $67.00 target price on shares of Enbridge in a research note on Monday, May 12th. 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 company's stock. According to data from MarketBeat.com, Enbridge has an average rating of "Moderate Buy" and a consensus target price of $60.50.

Enbridge Price Performance

Shares of ENB traded up $0.02 during trading hours on Wednesday, reaching $48.32. The company had a trading volume of 2,871,174 shares, compared to its average volume of 3,813,647. The firm has a 50 day simple moving average of $46.07 and a 200-day simple moving average of $45.03. The company has a current ratio of 0.75, a quick ratio of 0.65 and a debt-to-equity ratio of 1.58. The company has a market capitalization of $105.35 billion, a price-to-earnings ratio of 23.80, a PEG ratio of 4.42 and a beta of 0.80. Enbridge Inc has a 12-month low of $39.73 and a 12-month high of $48.59.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last announced its quarterly 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. The business had revenue of $7.14 billion during the quarter, compared to the consensus estimate of $10.56 billion. Enbridge had a net margin of 10.11% and a return on equity of 10.77%. During the same quarter last year, the firm posted $0.58 EPS. Research analysts expect that Enbridge Inc will post 2.14 earnings per share for the current year.

Enbridge Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 1st. Stockholders of record on Friday, August 15th were issued a $0.6839 dividend. The ex-dividend date was Friday, August 15th. This represents a $2.74 dividend on an annualized basis and a dividend yield of 5.7%. This is a boost from Enbridge's previous quarterly dividend of $0.68. Enbridge's payout ratio is 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.