Enbridge Inc $ENB Shares Acquired by Raymond James Financial Inc.

Key Points

• Raymond James Financial Inc. has increased its stake in Enbridge Inc. by 0.8%, owning a total of 4,299,977 shares worth approximately $190 million.
• Enbridge has recently announced a quarterly dividend of $0.6839, representing an annualized yield of 5.8%, up from its prior quarterly dividend.
• Analysts rate Enbridge with a Moderate Buy average rating and a price target of $60.50, with several firms upgrading their ratings on the stock.

Raymond James Financial Inc. grew its stake in Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB by 0.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,299,977 shares of the pipeline company's stock after buying an additional 35,515 shares during the period. Raymond James Financial Inc. owned 0.20% of Enbridge worth $190,532,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the business. Wealth Enhancement Advisory Services LLC raised its position in Enbridge by 6.1% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 438,557 shares of the pipeline company's stock worth $19,431,000 after buying an additional 25,071 shares during the last quarter. Hartline Investment Corp raised its position in Enbridge by 31.3% during the 1st quarter. Hartline Investment Corp now owns 36,098 shares of the pipeline company's stock worth $1,600,000 after buying an additional 8,610 shares during the last quarter. Wellington Management Group LLP raised its position in Enbridge by 0.7% during the 4th quarter. Wellington Management Group LLP now owns 1,150,521 shares of the pipeline company's stock worth $48,806,000 after buying an additional 7,890 shares during the last quarter. JBR Co Financial Management Inc purchased a new position in Enbridge during the 1st quarter worth $330,000. Finally, Good Steward Wealth Advisors LLC purchased a new position in Enbridge during the 1st quarter worth $637,000. Institutional investors and hedge funds own 54.60% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have commented on ENB shares. Wall Street Zen upgraded shares of Enbridge from a "sell" rating to a "hold" rating in a research report on Thursday, May 22nd. Raymond James Financial upgraded shares of Enbridge to a "moderate buy" rating in a research report on Wednesday, April 23rd. BMO Capital Markets restated a "market perform" rating on shares of Enbridge in a research report on Monday, May 12th. Argus increased their price target on shares of Enbridge from $50.00 to $54.00 and gave the company a "buy" rating in a report on Tuesday, August 12th. Finally, National Bankshares reiterated a "sector perform" rating on shares of Enbridge in a report on Tuesday, August 5th. Five research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $60.50.

Enbridge Price Performance

ENB opened at $47.02 on Monday. The company has a quick ratio of 0.65, a current ratio of 0.75 and a debt-to-equity ratio of 1.58. Enbridge Inc has a 52-week low of $38.49 and a 52-week high of $48.21. The company has a 50 day moving average of $45.55 and a two-hundred day moving average of $44.73. The company has a market cap of $102.53 billion, a P/E ratio of 23.16, a P/E/G ratio of 4.30 and a beta of 0.79.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last announced its earnings results on Friday, August 1st. The pipeline company reported $0.47 earnings per share for the quarter, beating the consensus estimate 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 period in the prior year, the firm earned $0.58 earnings per share. On average, analysts expect that Enbridge Inc will post 2.14 earnings per share for the current year.

Enbridge Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 1st. Stockholders of record on Friday, August 15th will be paid a $0.6839 dividend. This represents a $2.74 annualized dividend and a dividend yield of 5.8%. This is a boost from Enbridge's previous quarterly dividend of $0.68. The ex-dividend date is Friday, August 15th. Enbridge's 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.

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