Gulf International Bank UK Ltd boosted its stake in Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB by 2,593.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 125,249 shares of the pipeline company's stock after buying an additional 120,599 shares during the quarter. Gulf International Bank UK Ltd's holdings in Enbridge were worth $5,550,000 at the end of the most recent reporting period.
Other institutional investors have also bought and sold shares of the company. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Enbridge by 6.1% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 438,557 shares of the pipeline company's stock worth $19,431,000 after buying an additional 25,071 shares during the last quarter. Canada Pension Plan Investment Board increased its holdings in shares of Enbridge by 20.0% during the 4th quarter. Canada Pension Plan Investment Board now owns 6,818,919 shares of the pipeline company's stock worth $289,044,000 after buying an additional 1,135,000 shares during the last quarter. Hartline Investment Corp increased its holdings in shares of Enbridge by 31.3% during the 1st quarter. Hartline Investment Corp now owns 36,098 shares of the pipeline company's stock worth $1,600,000 after buying an additional 8,610 shares during the last quarter. Wellington Management Group LLP increased its holdings in shares of Enbridge by 0.7% during the 4th quarter. Wellington Management Group LLP now owns 1,150,521 shares of the pipeline company's stock worth $48,806,000 after buying an additional 7,890 shares during the last quarter. Finally, JBR Co Financial Management Inc acquired a new stake in shares of Enbridge during the 1st quarter worth approximately $330,000. 54.60% of the stock is owned by hedge funds and other institutional investors.
Enbridge Stock Down 2.4%
Shares of NYSE:ENB traded down $1.16 during trading on Friday, hitting $47.02. The company's stock had a trading volume of 4,289,854 shares, compared to its average volume of 4,108,400. The business has a 50 day moving average price of $45.55 and a two-hundred day moving average price of $44.73. The company has a market capitalization of $102.53 billion, a PE ratio of 23.16, a P/E/G ratio of 4.30 and a beta of 0.79. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.65 and a current ratio of 0.75. Enbridge Inc has a fifty-two week low of $38.49 and a fifty-two week high of $48.21.
Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last posted its quarterly earnings results on Friday, August 1st. The pipeline company reported $0.47 EPS for the quarter, topping the consensus estimate 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 net margin of 10.11% and a return on equity of 10.77%. During the same quarter in the previous year, the firm posted $0.58 earnings per share. As a group, research analysts expect that Enbridge Inc will post 2.14 EPS for the current fiscal year.
Enbridge Increases Dividend
The business also recently disclosed 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 is a boost from Enbridge's previous quarterly dividend of $0.68. This represents a $2.74 annualized dividend and a yield of 5.8%. The ex-dividend date is Friday, August 15th. Enbridge's payout ratio is currently 133.99%.
Wall Street Analyst Weigh In
Several analysts recently weighed in on the stock. Raymond James Financial upgraded shares of Enbridge to a "moderate buy" rating in a report on Wednesday, April 23rd. National Bankshares reiterated a "sector perform" rating on shares of Enbridge in a report on Tuesday, August 5th. Jefferies Financial Group upgraded shares of Enbridge from a "hold" rating to a "buy" rating in a report on Wednesday, July 23rd. Argus lifted their target price on shares of Enbridge from $50.00 to $54.00 and gave the company a "buy" rating in a report on Tuesday, August 12th. Finally, BMO Capital Markets reiterated a "market perform" rating on shares of Enbridge in a report on Monday, May 12th. Five research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $60.50.
Check Out Our Latest Stock Report on ENB
About Enbridge
(
Free Report)
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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