Goldman Sachs Group Inc. Has $1.46 Billion Position in Enbridge Inc (NYSE:ENB)

Key Points

• Goldman Sachs Group Inc. increased its stake in Enbridge Inc by 137.9% in the first quarter, owning approximately 32.9 million shares valued at $1.46 billion.
• Enbridge announced a quarterly dividend of $0.6839, representing a 5.9% annual yield, and an increase from its previous quarterly dividend of $0.68.
• Analyst ratings for Enbridge show a consensus rating of "Moderate Buy" with a target price of $67.00, signaling positive market sentiment.

Goldman Sachs Group Inc. raised its stake in shares of Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB by 137.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 32,907,433 shares of the pipeline company's stock after buying an additional 19,074,827 shares during the quarter. Goldman Sachs Group Inc. owned about 1.51% of Enbridge worth $1,458,128,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the stock. Twin City Private Wealth LLC grew its position in shares of Enbridge by 1.0% during the 1st quarter. Twin City Private Wealth LLC now owns 57,551 shares of the pipeline company's stock worth $2,550,000 after buying an additional 581 shares during the period. Renasant Bank acquired a new position in shares of Enbridge during the 1st quarter worth about $225,000. Wealthspire Advisors LLC grew its position in shares of Enbridge by 11.2% during the 1st quarter. Wealthspire Advisors LLC now owns 7,857 shares of the pipeline company's stock worth $348,000 after buying an additional 792 shares during the period. Annis Gardner Whiting Capital Advisors LLC acquired a new position in shares of Enbridge during the 1st quarter worth about $128,000. Finally, Cary Street Partners Investment Advisory LLC grew its position in shares of Enbridge by 63.5% during the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 1,493 shares of the pipeline company's stock worth $66,000 after buying an additional 580 shares during the period. 54.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ENB has been the subject of several analyst reports. BMO Capital Markets restated a "market perform" rating on shares of Enbridge in a research report on Monday, May 12th. National Bankshares reiterated a "sector perform" rating on shares of Enbridge in a report on Monday, May 12th. Jefferies Financial Group upgraded Enbridge from a "hold" rating to a "buy" rating in a report on Wednesday, July 23rd. Raymond James Financial upgraded Enbridge to a "moderate buy" rating in a report on Wednesday, April 23rd. Finally, Wall Street Zen upgraded Enbridge from a "sell" rating to a "hold" rating in a report on Thursday, May 22nd. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $67.00.

Enbridge Trading Up 0.3%

NYSE ENB opened at $46.74 on Wednesday. The stock has a market capitalization of $101.92 billion, a price-to-earnings ratio of 23.03, a PEG ratio of 4.34 and a beta of 0.79. The stock's 50 day moving average price is $45.42 and its two-hundred day moving average price is $44.59. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.66 and a current ratio of 0.75. Enbridge Inc has a 52 week low of $37.04 and a 52 week high of $47.44.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last released its 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. The firm had revenue of $7.14 billion for 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 business posted $0.58 EPS. As a group, analysts anticipate that Enbridge Inc will post 2.14 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The company 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 $0.6839 dividend. This represents a $2.74 annualized dividend and a yield of 5.9%. The ex-dividend date is Friday, August 15th. This is a positive change from Enbridge's previous quarterly dividend of $0.68. Enbridge's dividend payout ratio (DPR) is presently 133.99%.

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.

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