Envestnet Asset Management Inc. raised its stake in Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB by 8.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,110,659 shares of the pipeline company's stock after purchasing an additional 322,359 shares during the period. Envestnet Asset Management Inc. owned 0.19% of Enbridge worth $182,095,000 as of its most recent SEC filing.
Several other hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in Enbridge by 4.1% in the fourth quarter. Vanguard Group Inc. now owns 91,617,146 shares of the pipeline company's stock valued at $3,888,507,000 after purchasing an additional 3,611,421 shares during the last quarter. GQG Partners LLC boosted its holdings in shares of Enbridge by 2.1% in the fourth quarter. GQG Partners LLC now owns 74,290,740 shares of the pipeline company's stock valued at $3,151,500,000 after acquiring an additional 1,495,742 shares during the period. TD Asset Management Inc. boosted its holdings in shares of Enbridge by 2.8% in the fourth quarter. TD Asset Management Inc. now owns 38,752,759 shares of the pipeline company's stock valued at $1,643,935,000 after acquiring an additional 1,040,799 shares during the period. Deutsche Bank AG boosted its holdings in shares of Enbridge by 13.9% in the fourth quarter. Deutsche Bank AG now owns 36,336,212 shares of the pipeline company's stock valued at $1,541,745,000 after acquiring an additional 4,426,684 shares during the period. Finally, Norges Bank acquired a new stake in shares of Enbridge in the fourth quarter valued at approximately $909,415,000. 54.60% of the stock is currently owned by hedge funds and other institutional investors.
Enbridge Stock Performance
Shares of NYSE ENB traded up $0.72 during mid-day trading on Thursday, hitting $44.51. 5,151,426 shares of the company were exchanged, compared to its average volume of 3,964,241. Enbridge Inc has a 1-year low of $35.68 and a 1-year high of $47.44. The company has a quick ratio of 0.66, a current ratio of 0.73 and a debt-to-equity ratio of 1.51. The stock has a 50 day simple moving average of $45.58 and a 200-day simple moving average of $44.29. The firm has a market cap of $97.05 billion, a price-to-earnings ratio of 22.94, a price-to-earnings-growth ratio of 4.13 and a beta of 0.79.
Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last released its earnings results on Friday, May 9th. The pipeline company reported $0.72 EPS for the quarter, beating 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 last year, the company earned $0.92 earnings per share. On average, sell-side analysts forecast 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 was paid on Sunday, June 1st. Shareholders of record on Thursday, May 15th were issued a $0.679 dividend. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $2.72 dividend on an annualized basis and a yield of 6.10%. This is an increase from Enbridge's previous quarterly dividend of $0.67. Enbridge's dividend payout ratio (DPR) is 140.21%.
Analysts Set New Price Targets
Several research firms have recently weighed in on ENB. Raymond James Financial raised Enbridge to a "moderate buy" rating in a report on Wednesday, April 23rd. Citigroup started coverage on Enbridge in a report on Friday, April 4th. They set a "buy" rating for the company. Wall Street Zen raised Enbridge from a "sell" rating to a "hold" rating in a report on Thursday, May 22nd. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $67.00 price target on shares of Enbridge in a report on Monday, May 12th. Finally, BMO Capital Markets reaffirmed a "market perform" rating on shares of Enbridge in a report on Monday, May 12th. Six research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $67.00.
View Our Latest Stock Analysis on ENB
About Enbridge
(
Free Report)
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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