Enbridge Inc (NYSE:ENB) is Connor Clark & Lunn Investment Management Ltd.'s 6th Largest Position

Key Points

• Connor Clark & Lunn Investment Management Ltd. holds 11,446,093 shares of Enbridge Inc, making it their 6th largest position in their portfolio, which accounts for 2.2% of their assets.
• Enbridge recently raised its quarterly dividend to $0.6839 per share, resulting in an annualized yield of 5.8% and a payout ratio of 133.99%.
• Wall Street analysts currently have a consensus rating of "Moderate Buy" for Enbridge, with a target price set at $67.00.

Connor Clark & Lunn Investment Management Ltd. lowered its holdings in shares of Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB by 0.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,446,093 shares of the pipeline company's stock after selling 8,857 shares during the period. Enbridge comprises 2.2% of Connor Clark & Lunn Investment Management Ltd.'s portfolio, making the stock its 6th largest holding. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.53% of Enbridge worth $506,670,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Garde Capital Inc. purchased a new stake in shares of Enbridge during the first quarter worth about $26,000. Financial Gravity Asset Management Inc. purchased a new stake in shares of Enbridge during the first quarter worth about $28,000. Accent Capital Management LLC purchased a new stake in Enbridge in the first quarter valued at approximately $30,000. GeoWealth Management LLC grew its holdings in Enbridge by 436.4% in the fourth quarter. GeoWealth Management LLC now owns 751 shares of the pipeline company's stock valued at $32,000 after purchasing an additional 611 shares during the period. Finally, Wolff Wiese Magana LLC grew its holdings in 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 purchasing an additional 365 shares during the period. Institutional investors and hedge funds own 54.60% of the company's stock.

Analysts Set New Price Targets

ENB has been the subject of a number of recent analyst reports. Royal Bank Of Canada restated an "outperform" rating and issued a $67.00 target price on shares of Enbridge in a report on Monday, May 12th. Raymond James Financial upgraded shares of Enbridge to a "moderate buy" rating in a report on Wednesday, April 23rd. BMO Capital Markets restated a "market perform" rating on shares of Enbridge in a report on Monday, May 12th. Wall Street Zen upgraded shares of Enbridge from a "sell" rating to a "hold" rating in a report on Thursday, May 22nd. Finally, Jefferies Financial Group upgraded shares of Enbridge from a "hold" rating to a "buy" rating in a report on Wednesday, July 23rd. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Enbridge has a consensus rating of "Moderate Buy" and an average price target of $67.00.

Enbridge Trading Down 0.1%

Shares of ENB stock traded down $0.05 during mid-day trading on Friday, reaching $47.03. The company's stock had a trading volume of 2,387,065 shares, compared to its average volume of 3,850,334. The company's 50 day simple moving average is $45.48 and its 200-day simple moving average is $44.63. Enbridge Inc has a 12-month low of $38.44 and a 12-month high of $47.44. The company has a quick ratio of 0.65, a current ratio of 0.75 and a debt-to-equity ratio of 1.58. The firm has a market capitalization of $102.55 billion, a PE ratio of 23.17, a price-to-earnings-growth ratio of 4.32 and a beta of 0.79.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last issued its earnings results on Friday, August 1st. The pipeline company reported $0.47 EPS for the quarter, beating analysts' consensus estimates of $0.41 by $0.06. Enbridge had a net margin of 10.11% and a return on equity of 10.77%. The business had revenue of $7.14 billion for the quarter, compared to the consensus estimate of $10.56 billion. During the same quarter last year, the firm posted $0.58 EPS. On average, research analysts predict that Enbridge Inc will post 2.14 EPS for the current fiscal year.

Enbridge Increases Dividend

The firm 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. The ex-dividend date of this dividend is Friday, August 15th. This represents a $2.74 dividend on an annualized basis and a dividend yield of 5.8%. This is a boost from Enbridge's previous quarterly dividend of $0.68. Enbridge's payout ratio is 133.99%.

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.