XTX Topco Ltd Purchases 40,395 Shares of Enbridge Inc (NYSE:ENB)

Key Points

• XTX Topco Ltd increased its holdings in Enbridge Inc by 221.6%, owning a total of 58,623 shares worth approximately $2.6 million after acquiring an additional 40,395 shares in Q1.
• Enbridge reported a net margin of 10.16% and earnings per share of $0.72 for the last quarter, surpassing analysts' expectations of $0.68.
• The company has a current consensus rating of "Moderate Buy" from analysts, with an average price target of $67.00.

XTX Topco Ltd grew its position in shares of Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB by 221.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 58,623 shares of the pipeline company's stock after purchasing an additional 40,395 shares during the period. XTX Topco Ltd's holdings in Enbridge were worth $2,598,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in ENB. Brighton Jones LLC acquired a new position in shares of Enbridge during the fourth quarter valued at about $261,000. American Century Companies Inc. grew its holdings in Enbridge by 3.1% in the 4th quarter. American Century Companies Inc. now owns 223,023 shares of the pipeline company's stock valued at $9,466,000 after buying an additional 6,603 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp increased its position in Enbridge by 49.5% during the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 53,431 shares of the pipeline company's stock worth $2,272,000 after purchasing an additional 17,700 shares during the last quarter. Orion Portfolio Solutions LLC increased its position in shares of Enbridge by 8.1% during the fourth quarter. Orion Portfolio Solutions LLC now owns 50,021 shares of the pipeline company's stock valued at $2,122,000 after acquiring an additional 3,754 shares during the last quarter. Finally, CIBC Private Wealth Group LLC increased its position in shares of Enbridge by 1.1% during the fourth quarter. CIBC Private Wealth Group LLC now owns 458,916 shares of the pipeline company's stock valued at $20,201,000 after acquiring an additional 4,906 shares during the last quarter. 54.60% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on ENB shares. BMO Capital Markets reissued a "market perform" rating on shares of Enbridge in a research note on Monday, May 12th. Raymond James Financial raised Enbridge to a "moderate buy" rating in a research report on Wednesday, April 23rd. Royal Bank Of Canada restated an "outperform" rating and set a $67.00 price objective on shares of Enbridge in a report on Monday, May 12th. National Bankshares reaffirmed a "sector perform" rating on shares of Enbridge in a report on Monday, May 12th. Finally, Citigroup started coverage on Enbridge in a report on Friday, April 4th. They issued a "buy" rating on the stock. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $67.00.

Enbridge Trading Down 0.2%

Shares of ENB stock traded down $0.09 during trading hours on Wednesday, hitting $44.99. 2,642,888 shares of the company were exchanged, compared to its average volume of 3,757,241. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.66 and a current ratio of 0.73. The company has a 50 day simple moving average of $45.40 and a two-hundred day simple moving average of $44.52. The firm has a market cap of $98.10 billion, a P/E ratio of 23.19, a P/E/G ratio of 4.20 and a beta of 0.79. Enbridge Inc has a fifty-two week low of $36.50 and a fifty-two week high of $47.44.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last released its earnings results on Friday, May 9th. The pipeline company reported $0.72 earnings per share for the quarter, topping analysts' consensus estimates of $0.68 by $0.04. Enbridge had a return on equity of 10.41% and a net margin of 10.16%. The company had revenue of $7.27 billion during the quarter, compared to the consensus estimate of $10.20 billion. During the same quarter in the previous year, the company posted $0.92 EPS. Equities analysts anticipate that Enbridge Inc will post 2.14 EPS for the current year.

Enbridge Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 1st. Investors of record on Friday, August 15th will be paid a $0.6839 dividend. This represents a $2.74 annualized dividend and a dividend yield of 6.08%. This is a positive change from Enbridge's previous quarterly dividend of $0.68. The ex-dividend date is Friday, August 15th. Enbridge's dividend payout ratio (DPR) is presently 140.21%.

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.