Amundi Boosts Holdings in Enbridge Inc $ENB

Key Points

• Amundi increased its shareholding in Enbridge Inc by 3.5%, acquiring a total of nearly 10 million shares, which are valued at approximately $452.4 million as of its latest SEC filing.
• Enbridge recently declared a quarterly dividend of $0.6839, increasing from $0.68, representing a $2.74 annualized dividend and a dividend yield of 5.7%.
• Research analysts have a consensus average rating of "Moderate Buy" for Enbridge, with a target price of $60.50, reflecting a positive outlook on the stock.

Amundi lifted its stake in Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB by 3.5% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 9,979,071 shares of the pipeline company's stock after purchasing an additional 339,467 shares during the quarter. Amundi owned about 0.46% of Enbridge worth $452,451,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of ENB. Brighton Jones LLC purchased a new position in Enbridge during the 4th quarter worth approximately $261,000. AXA S.A. increased its holdings in shares of Enbridge by 0.5% during the 4th quarter. AXA S.A. now owns 89,823 shares of the pipeline company's stock valued at $3,811,000 after purchasing an additional 408 shares in the last quarter. Aptus Capital Advisors LLC purchased a new position in shares of Enbridge during the 4th quarter valued at approximately $420,000. Ameriprise Financial Inc. increased its holdings in shares of Enbridge by 1.4% during the 4th quarter. Ameriprise Financial Inc. now owns 1,158,225 shares of the pipeline company's stock valued at $49,441,000 after purchasing an additional 16,432 shares in the last quarter. Finally, Algert Global LLC increased its holdings in shares of Enbridge by 26.7% during the 4th quarter. Algert Global LLC now owns 6,663 shares of the pipeline company's stock valued at $283,000 after purchasing an additional 1,405 shares in the last quarter. 54.60% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently weighed in on ENB. National Bankshares reaffirmed a "sector perform" rating on shares of Enbridge in a report on Tuesday, August 5th. Jefferies Financial Group raised shares of Enbridge from a "hold" rating to a "buy" rating in a research note on Wednesday, July 23rd. BMO Capital Markets reissued a "market perform" rating on shares of Enbridge in a research note on Monday, May 12th. Royal Bank Of Canada reissued an "outperform" rating and issued a $67.00 price target on shares of Enbridge in a research note on Monday, May 12th. Finally, Wall Street Zen cut shares of Enbridge from a "hold" rating to a "sell" rating in a research note on Saturday, August 30th. One investment 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 stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $60.50.

Enbridge Trading Up 0.2%

NYSE ENB traded up $0.09 during trading hours on Monday, reaching $48.35. The company had a trading volume of 2,014,357 shares, compared to its average volume of 3,966,226. The stock has a 50-day moving average of $46.28 and a 200 day moving average of $45.16. Enbridge Inc has a 1-year low of $39.73 and a 1-year high of $48.68. 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 stock has a market capitalization of $105.42 billion, a P/E ratio of 23.82, a price-to-earnings-growth ratio of 4.41 and a beta of 0.80.

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 (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.06. The business had revenue of $7.14 billion for the quarter, compared to analysts' expectations of $10.56 billion. Enbridge had a net margin of 10.11% and a return on equity of 10.77%. During the same quarter in the prior year, the company earned $0.58 earnings per share. As a group, research analysts anticipate that Enbridge Inc will post 2.14 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 1st. Investors of record on Friday, August 15th were issued a $0.6839 dividend. This represents a $2.74 annualized dividend and a yield of 5.7%. This is a positive change from Enbridge's previous quarterly dividend of $0.68. The ex-dividend date of this dividend was Friday, August 15th. Enbridge's dividend payout ratio is 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.