Enbridge Inc $ENB Stock Holdings Lifted by Public Employees Retirement System of Ohio

Key Points

• The Public Employees Retirement System of Ohio increased its stake in Enbridge Inc by 4.3% during Q2, holding 531,000 shares valued at approximately $24 million.
• Analysts have shown mixed sentiment towards Enbridge; Jefferies upgraded the stock to "buy" while others like Wall Street Zen downgraded it to "sell," leading to an average target price of $60.50.
• Enbridge recently increased its quarterly dividend to $0.6839, yielding 5.5%, but has a high dividend payout ratio of 134.98% indicating potential sustainability concerns.

Public Employees Retirement System of Ohio raised its stake in Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB by 4.3% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 531,000 shares of the pipeline company's stock after buying an additional 21,967 shares during the period. Public Employees Retirement System of Ohio's holdings in Enbridge were worth $24,044,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Dagco Inc. acquired a new stake in Enbridge during the 1st quarter valued at $25,000. Garde Capital Inc. acquired a new stake in Enbridge during the 1st quarter valued at $26,000. Financial Gravity Asset Management Inc. acquired a new stake in Enbridge during the 1st quarter valued at $28,000. Accent Capital Management LLC acquired a new stake in Enbridge during the 1st quarter valued at $30,000. Finally, Wolff Wiese Magana LLC raised its stake in Enbridge by 91.3% during the 1st quarter. Wolff Wiese Magana LLC now owns 765 shares of the pipeline company's stock valued at $34,000 after purchasing an additional 365 shares during the period. Institutional investors own 54.60% of the company's stock.

Analysts Set New Price Targets

ENB has been the topic of several recent analyst reports. Jefferies Financial Group raised shares of Enbridge from a "hold" rating to a "buy" rating in a research note on Wednesday, July 23rd. Argus boosted their target price on shares of Enbridge from $50.00 to $54.00 and gave the company a "buy" rating in a research note on Tuesday, August 12th. Wall Street Zen downgraded shares of Enbridge from a "hold" rating to a "sell" rating in a research note on Sunday, September 21st. Zacks Research cut shares of Enbridge from a "strong-buy" rating to a "hold" rating in a report on Wednesday, September 17th. Finally, National Bankshares restated a "sector perform" rating on shares of Enbridge in a report on Tuesday, August 5th. Six equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $60.50.

Enbridge Trading Down 0.8%

Enbridge stock opened at $49.57 on Friday. 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 12 month low of $39.73 and a 12 month high of $50.15. The company's fifty day simple moving average is $47.49 and its 200-day simple moving average is $45.80. The stock has a market cap of $108.11 billion, a P/E ratio of 24.42, a P/E/G ratio of 4.57 and a beta of 0.80.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last issued its quarterly earnings data on Friday, August 1st. The pipeline company reported $0.47 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.41 by $0.06. The firm had revenue of $7.14 billion during 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 period in the prior year, the company posted $0.58 earnings per share. As a group, sell-side analysts forecast that Enbridge Inc will post 2.14 EPS for the current fiscal year.

Enbridge Increases Dividend

The firm also recently disclosed 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 a boost from Enbridge's previous quarterly dividend of $0.68. This represents a $2.74 dividend on an annualized basis and a yield of 5.5%. The ex-dividend date was Friday, August 15th. Enbridge's dividend payout ratio is currently 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.

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