Enbridge Inc (NYSE:ENB) Shares Bought by Vanguard Group Inc.

Key Points

• Vanguard Group Inc. increased its holdings in Enbridge Inc by 1.7%, now owning approximately 93.2 million shares valued at over $4.1 billion as of the latest SEC filing.
• Enbridge reported an earnings per share (EPS) of $0.47 for the last quarter, beating the consensus estimate of $0.41, despite revenue falling short of expectations at $7.14 billion versus a projected $10.56 billion.
• The company has declared a quarterly dividend of $0.6839, reflecting a positive change from the prior amount, with a dividend yield of 5.8% and a payout ratio of 133.99%.

Vanguard Group Inc. lifted its stake in Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB by 1.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 93,187,025 shares of the pipeline company's stock after acquiring an additional 1,569,879 shares during the period. Vanguard Group Inc. owned 4.27% of Enbridge worth $4,124,271,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Garde Capital Inc. acquired a new position in Enbridge during the 1st quarter valued at about $26,000. Financial Gravity Asset Management Inc. acquired a new position in Enbridge during the 1st quarter valued at about $28,000. Accent Capital Management LLC acquired a new position in Enbridge during the 1st quarter valued at about $30,000. GeoWealth Management LLC increased its position in Enbridge by 436.4% during the 4th quarter. GeoWealth Management LLC now owns 751 shares of the pipeline company's stock valued at $32,000 after buying an additional 611 shares in the last quarter. Finally, Wolff Wiese Magana LLC increased its position 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 buying an additional 365 shares in the last quarter. 54.60% of the stock is owned by institutional investors.

Enbridge Price Performance

Shares of NYSE ENB traded down $0.05 during midday trading on Friday, hitting $47.03. The stock had a trading volume of 2,387,065 shares, compared to its average volume of 3,980,450. Enbridge Inc has a 1 year low of $38.44 and a 1 year high of $47.44. The company has a quick ratio of 0.66, a current ratio of 0.75 and a debt-to-equity ratio of 1.58. The company has a market capitalization of $102.55 billion, a PE ratio of 23.17, a P/E/G ratio of 4.32 and a beta of 0.79. The stock has a 50 day simple moving average of $45.48 and a 200-day simple moving average of $44.63.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last posted its quarterly earnings results on Friday, August 1st. The pipeline company reported $0.47 EPS for the quarter, beating the consensus estimate of $0.41 by $0.06. Enbridge had a return on equity of 10.77% and a net margin of 10.11%. The firm had revenue of $7.14 billion during the quarter, compared to analysts' expectations of $10.56 billion. During the same quarter last year, the firm earned $0.58 earnings per share. On average, sell-side analysts expect 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. Shareholders of record on Friday, August 15th will be paid a dividend of $0.6839 per share. This represents a $2.74 annualized dividend and a yield of 5.8%. This is a positive change from Enbridge's previous quarterly dividend of $0.68. The ex-dividend date of this dividend is Friday, August 15th. Enbridge's payout ratio is 133.99%.

Analyst Upgrades and Downgrades

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

About Enbridge

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.