GQG Partners LLC Has $3.34 Billion Stock Holdings in Enbridge Inc (NYSE:ENB)

Key Points

• GQG Partners LLC increased its stake in Enbridge Inc by 1.5%, owning approximately 75.4 million shares valued at $3.34 billion, making it the firm's third largest position.
• Enbridge announced a quarterly dividend of $0.6839 per share, up from the previous $0.68, resulting in an annualized dividend yield of 5.8%.
• The company recently reported earnings of $0.47 EPS, surpassing expectations, although revenue for the quarter came in lower than anticipated at $7.14 billion.

GQG Partners LLC boosted its position in Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB by 1.5% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 75,439,320 shares of the pipeline company's stock after buying an additional 1,148,580 shares during the period. Enbridge makes up approximately 5.3% of GQG Partners LLC's portfolio, making the stock its 3rd biggest position. GQG Partners LLC owned approximately 3.46% of Enbridge worth $3,338,405,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Financial Network Wealth Advisors LLC increased its holdings in Enbridge by 122.8% during the 1st quarter. Financial Network Wealth Advisors LLC now owns 1,112 shares of the pipeline company's stock worth $49,000 after purchasing an additional 613 shares in the last quarter. Gulf International Bank UK Ltd grew its holdings in shares of Enbridge by 2,593.5% in the first quarter. Gulf International Bank UK Ltd now owns 125,249 shares of the pipeline company's stock valued at $5,550,000 after acquiring an additional 120,599 shares in the last quarter. Maple Brown Abbott Ltd bought a new position in shares of Enbridge in the first quarter valued at approximately $77,976,000. MSH Capital Advisors LLC grew its holdings in shares of Enbridge by 2.8% in the first quarter. MSH Capital Advisors LLC now owns 16,488 shares of the pipeline company's stock valued at $731,000 after acquiring an additional 450 shares in the last quarter. Finally, Dagco Inc. bought a new position in shares of Enbridge in the first quarter valued at approximately $25,000. 54.60% of the stock is owned by institutional investors.

Enbridge Stock Down 2.4%

Shares of ENB stock traded down $1.16 during trading hours on Friday, hitting $47.02. 4,289,854 shares of the company's stock traded hands, compared to its average volume of 4,108,400. Enbridge Inc has a 12-month low of $38.49 and a 12-month high of $48.21. The stock's fifty day simple moving average is $45.54 and its two-hundred day simple moving average is $44.71. The stock has a market cap of $102.53 billion, a price-to-earnings ratio of 23.16, a PEG ratio of 4.41 and a beta of 0.79. The company has a quick ratio of 0.65, a current ratio of 0.75 and a debt-to-equity ratio of 1.58.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last announced its quarterly earnings results on Friday, August 1st. The pipeline company reported $0.47 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.41 by $0.06. Enbridge had a return on equity of 10.77% and a net margin of 10.11%. The firm had revenue of $7.14 billion for the quarter, compared to the consensus estimate of $10.56 billion. During the same period in the prior year, the company posted $0.58 earnings per share. On average, analysts expect that Enbridge Inc will post 2.14 EPS for the current year.

Enbridge Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 1st. Investors of record on Friday, August 15th will be given a dividend of $0.6839 per share. This represents a $2.74 annualized dividend and a dividend yield of 5.8%. This is a boost from Enbridge's previous quarterly dividend of $0.68. The ex-dividend date of this dividend is Friday, August 15th. Enbridge's payout ratio is 133.99%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Raymond James Financial raised Enbridge to a "moderate buy" rating in a report on Wednesday, April 23rd. Jefferies Financial Group raised shares of Enbridge from a "hold" rating to a "buy" rating in a research report on Wednesday, July 23rd. National Bankshares restated a "sector perform" rating on shares of Enbridge in a research report on Tuesday, August 5th. Royal Bank Of Canada reiterated an "outperform" rating and issued a $67.00 price objective on shares of Enbridge in a research report on Monday, May 12th. Finally, BMO Capital Markets reiterated a "market perform" rating on shares of Enbridge in a research report on Monday, May 12th. Five research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average 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.