Fractal Investments LLC Buys New Shares in Enbridge Inc $ENB

Key Points

• Fractal Investments LLC has acquired 67,500 shares of Enbridge Inc valued at approximately $3,059,000, establishing the company as its 21st largest position.
• Enbridge recently declared a quarterly dividend of $0.6839, marking an increase from the previous dividend and providing investors with a 5.6% yield.
• Analyst ratings for Enbridge include one "Strong Buy" and several "Buy" and "Hold" ratings, with a consensus target price of $60.50.

Fractal Investments LLC bought a new stake in Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 67,500 shares of the pipeline company's stock, valued at approximately $3,059,000. Enbridge accounts for approximately 0.4% of Fractal Investments LLC's holdings, making the stock its 21st largest position.

Several other hedge funds have also made changes to their positions in ENB. Goldman Sachs Group Inc. lifted its stake in shares of 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 buying an additional 19,074,827 shares during the period. Nuveen LLC acquired a new position in Enbridge in the first quarter worth about $208,490,000. Canada Pension Plan Investment Board raised its position in Enbridge by 39.7% in the first quarter. Canada Pension Plan Investment Board now owns 9,525,987 shares of the pipeline company's stock worth $421,675,000 after purchasing an additional 2,707,068 shares in the last quarter. Maple Brown Abbott Ltd acquired a new position in Enbridge in the first quarter worth about $77,976,000. Finally, JPMorgan Chase & Co. raised its position in Enbridge by 10.5% in the first quarter. JPMorgan Chase & Co. now owns 17,643,681 shares of the pipeline company's stock worth $781,792,000 after purchasing an additional 1,680,116 shares in the last quarter. Institutional investors own 54.60% of the company's stock.

Enbridge Stock Performance

NYSE:ENB opened at $49.11 on Friday. The company has a current ratio of 0.75, a quick ratio of 0.65 and a debt-to-equity ratio of 1.58. The stock has a market capitalization of $107.10 billion, a P/E ratio of 24.19, a price-to-earnings-growth ratio of 4.46 and a beta of 0.80. The firm has a 50 day moving average of $46.65 and a 200-day moving average of $45.38. Enbridge Inc has a 1 year low of $39.73 and a 1 year high of $49.11.

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

Enbridge Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 1st. Investors of record on Friday, August 15th were issued a $0.6839 dividend. This is an increase from Enbridge's previous quarterly dividend of $0.68. This represents a $2.74 dividend on an annualized basis and a dividend yield of 5.6%. The ex-dividend date of this dividend was Friday, August 15th. Enbridge's dividend payout ratio (DPR) is 134.98%.

Analyst Upgrades and Downgrades

ENB has been the subject of several recent research reports. National Bankshares reissued a "sector perform" rating on shares of Enbridge in a research report on Tuesday, August 5th. Zacks Research raised shares of Enbridge from a "hold" rating to a "strong-buy" rating in a research report on Friday, August 15th. Wall Street Zen raised shares of Enbridge from a "sell" rating to a "hold" rating in a research report on Saturday. Jefferies Financial Group raised shares of Enbridge from a "hold" rating to a "buy" rating in a research report on Wednesday, July 23rd. Finally, Argus increased their price target on shares of Enbridge from $50.00 to $54.00 and gave the stock a "buy" rating in a research report 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's stock. Based on data from MarketBeat.com, Enbridge currently has an average rating of "Moderate Buy" and a consensus target price of $60.50.

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.

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