Greenline Partners LLC Acquires 5,502 Shares of Enbridge Inc $ENB

Key Points

• Greenline Partners LLC increased its stake in Enbridge Inc by 1.6% to a total of 340,968 shares, making it the firm's 11th largest position with a value of approximately $15.1 million.
• Enbridge recently announced a quarterly dividend of $0.6839 per share, up from the previous dividend of $0.68, resulting in an annual yield of 5.7%.
• Enbridge reported $0.47 earnings per share for the last quarter, exceeding analysts' expectations, while the company saw a revenue of $7.14 billion, which was below analyst estimates.

Greenline Partners LLC boosted its stake in Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB by 1.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 340,968 shares of the pipeline company's stock after buying an additional 5,502 shares during the quarter. Enbridge makes up about 2.2% of Greenline Partners LLC's investment portfolio, making the stock its 11th largest position. Greenline Partners LLC's holdings in Enbridge were worth $15,108,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also bought and sold shares of ENB. Goldman Sachs Group Inc. boosted its stake in Enbridge by 137.9% in the 1st 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 in the last quarter. Nuveen LLC acquired a new stake in Enbridge in the 1st quarter valued at $208,490,000. Deutsche Bank AG boosted its stake in Enbridge by 13.9% in the 4th quarter. Deutsche Bank AG now owns 36,336,212 shares of the pipeline company's stock valued at $1,541,745,000 after buying an additional 4,426,684 shares in the last quarter. Canada Pension Plan Investment Board boosted its stake in Enbridge by 39.7% in the 1st quarter. Canada Pension Plan Investment Board now owns 9,525,987 shares of the pipeline company's stock valued at $421,675,000 after buying an additional 2,707,068 shares in the last quarter. Finally, Maple Brown Abbott Ltd acquired a new stake in Enbridge in the 1st quarter valued at $77,976,000. Institutional investors and hedge funds own 54.60% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have commented on ENB shares. Jefferies Financial Group raised Enbridge from a "hold" rating to a "buy" rating in a research note on Wednesday, July 23rd. Zacks Research upgraded Enbridge from a "hold" rating to a "strong-buy" rating in a research report on Friday, August 15th. BMO Capital Markets restated a "market perform" rating on shares of Enbridge in a research report on Monday, May 12th. Wall Street Zen downgraded Enbridge from a "hold" rating to a "sell" rating in a research report on Saturday, August 30th. Finally, National Bankshares reiterated a "sector perform" rating on shares of Enbridge in a report on Tuesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $60.50.

Enbridge Trading Up 0.2%

NYSE ENB traded up $0.09 on Monday, reaching $48.35. The company had a trading volume of 2,125,451 shares, compared to its average volume of 3,966,879. The stock's 50 day moving average is $46.28 and its 200-day moving average is $45.16. The stock has a market cap of $105.42 billion, a price-to-earnings ratio of 23.82, a PEG ratio of 4.41 and a beta of 0.80. 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 Inc has a 52 week low of $39.73 and a 52 week high of $48.68.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last released its quarterly earnings data on Friday, August 1st. The pipeline company reported $0.47 EPS 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 the consensus estimate 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 prior year, the company posted $0.58 earnings per share. Equities analysts predict that Enbridge Inc will post 2.14 earnings per share for the current year.

Enbridge Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 1st. Shareholders of record on Friday, August 15th were issued a $0.6839 dividend. This represents a $2.74 annualized dividend and a dividend yield of 5.7%. This is an increase from Enbridge's previous quarterly dividend of $0.68. The ex-dividend date was Friday, August 15th. Enbridge's dividend payout ratio is currently 134.98%.

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.