Advisors Asset Management Inc. Has $7.76 Million Stock Holdings in Enbridge Inc $ENB

Key Points

• Advisors Asset Management Inc. increased its stake in Enbridge Inc by 21.5% during the first quarter, owning 175,130 shares valued at approximately $7.76 million.
• Enbridge recently declared a quarterly dividend of $0.6839 per share, raising it from the previous $0.68, which yields an annualized dividend of $2.74 and a yield of 5.7%.
• The company reported an EPS of $0.47 for the last quarter, exceeding analyst expectations of $0.41, although it had a revenue of $7.14 billion, falling short of projections.

Advisors Asset Management Inc. boosted its holdings in shares of Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB by 21.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 175,130 shares of the pipeline company's stock after purchasing an additional 31,012 shares during the period. Advisors Asset Management Inc.'s holdings in Enbridge were worth $7,760,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Dagco Inc. bought a new position in Enbridge during the first quarter worth about $25,000. Garde Capital Inc. bought a new position in Enbridge during the first quarter worth about $26,000. Financial Gravity Asset Management Inc. bought a new position in Enbridge during the first quarter worth about $28,000. Accent Capital Management LLC bought a new position in Enbridge during the first quarter worth about $30,000. Finally, Wolff Wiese Magana LLC raised its stake in shares of Enbridge by 91.3% in the first quarter. Wolff Wiese Magana LLC now owns 765 shares of the pipeline company's stock valued at $34,000 after acquiring an additional 365 shares during the last quarter. Institutional investors own 54.60% of the company's stock.

Enbridge Price Performance

Shares of Enbridge stock traded up $0.19 during midday trading on Tuesday, reaching $48.51. The company had a trading volume of 756,887 shares, compared to its average volume of 3,947,701. 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 $105.78 billion, a price-to-earnings ratio of 23.90, a price-to-earnings-growth ratio of 4.41 and a beta of 0.80. The stock has a fifty day simple moving average of $46.34 and a 200 day simple moving average of $45.21. Enbridge Inc has a 1-year low of $39.73 and a 1-year high of $48.68.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last issued its quarterly earnings results on Friday, August 1st. The pipeline company reported $0.47 earnings per share 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 analyst estimates 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 business posted $0.58 earnings per share. As a group, equities research analysts forecast 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. Investors of record on Friday, August 15th were issued a $0.6839 dividend. This is an increase from Enbridge's previous quarterly dividend of $0.68. This represents a $2.74 dividend on an annualized basis and a dividend yield of 5.6%. The ex-dividend date of this dividend was Friday, August 15th. Enbridge's dividend payout ratio (DPR) is 134.98%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on ENB. BMO Capital Markets reissued a "market perform" rating on shares of Enbridge in a report on Monday, May 12th. Wall Street Zen lowered Enbridge from a "hold" rating to a "sell" rating in a research note on Saturday, August 30th. Zacks Research upgraded Enbridge from a "hold" rating to a "strong-buy" rating in a report on Friday, August 15th. 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. Finally, Jefferies Financial Group upgraded Enbridge from a "hold" rating to a "buy" rating in a research note on Wednesday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $60.50.

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.