Enbridge Inc $ENB Shares Acquired by Envestnet Asset Management Inc.

Key Points

• Envestnet Asset Management increased its Enbridge stake by 0.7% in the second quarter, bringing its holdings to 3.84 million shares valued at approximately $208.4 million. Institutional investors collectively own 54.6% of the company.
• Analyst sentiment is broadly positive: Enbridge has a “Moderate Buy” consensus rating from 13 analysts, with a consensus price target of $71.17; TD Securities and BMO Capital Markets recently initiated or upgraded the stock to “Buy” or “Outperform.”
• Enbridge reported quarterly EPS of $0.46, above the $0.43 consensus estimate, and revenue of $9.70 billion. The company’s annualized dividend is C$3.88 per share, representing an approximately 8.2% yield, though its payout ratio is elevated at 147.06%.

Envestnet Asset Management Inc. grew its stake in shares of Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB by 0.7% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 3,844,716 shares of the pipeline company's stock after purchasing an additional 26,591 shares during the period. Envestnet Asset Management Inc. owned about 0.17% of Enbridge worth $208,427,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the stock. Deutsche Bank AG bought a new stake in shares of Enbridge in the 2nd quarter worth $1,850,502,000. Norges Bank purchased a new stake in Enbridge in the 4th quarter valued at about $1,195,559,000. Ontario Teachers Pension Plan Board bought a new position in shares of Enbridge during the 2nd quarter worth approximately $467,782,000. Auto Owners Insurance Co lifted its position in shares of Enbridge by 4,683.0% during the 4th quarter. Auto Owners Insurance Co now owns 8,566,831 shares of the pipeline company's stock worth $40,975,000 after buying an additional 8,387,721 shares in the last quarter. Finally, Bank of New York Mellon Corp purchased a new position in shares of Enbridge in the 2nd quarter worth approximately $412,627,000. Institutional investors own 54.60% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on ENB. Jefferies Financial Group reaffirmed a "hold" rating on shares of Enbridge in a report on Monday, September 14th. TD Securities started coverage on Enbridge in a report on Monday, September 14th. They set a "buy" rating on the stock. Weiss Ratings reissued a "buy (b)" rating on shares of Enbridge in a research report on Wednesday, August 19th. Royal Bank Of Canada upped their price objective on Enbridge from $79.00 to $84.00 and gave the company an "outperform" rating in a research note on Monday, August 3rd. Finally, BMO Capital Markets raised Enbridge from a "market perform" rating to an "outperform" rating and set a $79.50 target price for the company in a research report on Monday, September 14th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, Enbridge presently has an average rating of "Moderate Buy" and a consensus target price of $71.17.

Enbridge Trading Down 1.1%

Shares of ENB stock opened at $47.33 on Friday. The company has a quick ratio of 0.66, a current ratio of 0.72 and a debt-to-equity ratio of 1.69. The firm has a market cap of $105.48 billion, a P/E ratio of 25.31, a PEG ratio of 5.66 and a beta of 0.57. The company has a 50 day moving average of $51.38 and a 200-day moving average of $53.55. Enbridge Inc has a 12-month low of $45.03 and a 12-month high of $58.45.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last posted its quarterly earnings data on Friday, July 31st. The pipeline company reported $0.46 EPS for the quarter, beating the consensus estimate of $0.43 by $0.03. Enbridge had a return on equity of 11.17% and a net margin of 7.20%.The business had revenue of $9.70 billion for the quarter, compared to the consensus estimate of $8.67 billion. During the same quarter in the prior year, the business earned $0.65 earnings per share. Sell-side analysts anticipate that Enbridge Inc will post 2.12 earnings per share for the current year.

Enbridge Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 1st. Stockholders of record on Friday, August 14th were paid a C$0.97 dividend. The ex-dividend date was Friday, August 14th. This represents a $3.88 annualized dividend and a dividend yield of 8.2%. Enbridge's dividend payout ratio (DPR) is presently 147.06%.

Enbridge Company Profile

Enbridge Inc is a Canadian energy infrastructure company headquartered in Calgary, Alberta. Founded in 1949 as Interprovincial Pipe Line, the company has grown into one of North America's largest energy delivery businesses, operating primarily in Canada and the United States.

Enbridge's operations include crude oil and liquids pipelines, natural gas transmission and storage, and natural gas distribution and utility services. Its pipeline systems transport energy products from producing regions to refineries, export facilities, utilities and other customers.

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