Focus Partners Wealth Acquires 18,745 Shares of Enbridge Inc $ENB

Key Points

• Focus Partners Wealth increased its stake in Enbridge Inc by 4.0%, now holding 486,094 shares valued at approximately $21.54 million.
• Enbridge recently raised its quarterly dividend to $0.6839 per share, representing a 5.6% yield and a boosted annualized dividend of $2.74.
• Wall Street analysts have mixed ratings on Enbridge, with one rating it a Strong Buy, while the average price target for the stock is set at $60.50.

Focus Partners Wealth boosted its holdings in Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB by 4.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 486,094 shares of the pipeline company's stock after purchasing an additional 18,745 shares during the period. Focus Partners Wealth's holdings in Enbridge were worth $21,539,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of Enbridge by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 93,187,025 shares of the pipeline company's stock worth $4,124,271,000 after buying an additional 1,569,879 shares during the last quarter. GQG Partners LLC raised its holdings in Enbridge by 1.5% during the first quarter. GQG Partners LLC now owns 75,439,320 shares of the pipeline company's stock worth $3,338,405,000 after acquiring an additional 1,148,580 shares in the last quarter. TD Asset Management Inc boosted its position in Enbridge by 1.3% during the first quarter. TD Asset Management Inc now owns 39,265,817 shares of the pipeline company's stock valued at $1,737,602,000 after purchasing an additional 513,058 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in Enbridge by 137.9% in the first quarter. Goldman Sachs Group Inc. now owns 32,907,433 shares of the pipeline company's stock valued at $1,458,128,000 after purchasing an additional 19,074,827 shares in the last quarter. Finally, Mackenzie Financial Corp increased its position in shares of Enbridge by 1.7% during the 4th quarter. Mackenzie Financial Corp now owns 18,880,985 shares of the pipeline company's stock worth $800,507,000 after purchasing an additional 319,435 shares during the last quarter. 54.60% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Zacks Research raised shares of Enbridge from a "hold" rating to a "strong-buy" rating in a research report on Friday, August 15th. Jefferies Financial Group raised shares of Enbridge from a "hold" rating to a "buy" rating in a report on Wednesday, July 23rd. Wall Street Zen upgraded shares of Enbridge from a "sell" rating to a "hold" rating in a research note on Saturday. National Bankshares reiterated a "sector perform" rating on shares of Enbridge in a report on Tuesday, August 5th. Finally, Argus upped their price objective on Enbridge from $50.00 to $54.00 and gave the company a "buy" rating in a research note on Tuesday, August 12th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $60.50.

Enbridge Stock Performance

Enbridge stock traded up $0.30 during trading hours on Friday, hitting $49.11. The company had a trading volume of 2,011,439 shares, compared to its average volume of 3,006,375. The firm has a 50-day moving average of $46.65 and a 200 day moving average of $45.38. The company has a debt-to-equity ratio of 1.58, a current ratio of 0.75 and a quick ratio of 0.65. The firm has a market cap of $107.10 billion, a PE ratio of 24.19, a PEG ratio of 4.49 and a beta of 0.80. Enbridge Inc has a one year low of $39.73 and a one year high of $49.11.

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 company had revenue of $7.14 billion during the quarter, compared to analysts' expectations of $10.56 billion. Enbridge had a return on equity of 10.77% and a net margin of 10.11%.During the same quarter in the previous year, the company posted $0.58 earnings per share. On average, sell-side analysts expect that Enbridge Inc will post 2.14 earnings per share for the current year.

Enbridge Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 1st. Shareholders of record on Friday, August 15th were given a dividend of $0.6839 per share. This represents a $2.74 annualized dividend and a yield of 5.6%. The ex-dividend date was Friday, August 15th. This is a positive change from Enbridge's previous quarterly dividend of $0.68. Enbridge's dividend payout ratio (DPR) is 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.