Horizon Investments LLC Increases Holdings in Enbridge Inc $ENB

Key Points

• Horizon Investments LLC increased its stake in Enbridge Inc by 9.7%, acquiring an additional 5,606 shares to reach a total of 63,297 shares valued at approximately $2.8 million.
• Enbridge recently announced a quarterly dividend of $0.6839, raised from the previous $0.68, which represents a 5.8% yield and a payout ratio of 133.99%.
• The company reported an EPS of $0.47 for the last quarter, surpassing estimates, while its annual dividend currently stands at $2.74.

Horizon Investments LLC lifted its position in shares of Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB by 9.7% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 63,297 shares of the pipeline company's stock after acquiring an additional 5,606 shares during the quarter. Horizon Investments LLC's holdings in Enbridge were worth $2,805,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in ENB. Goldman Sachs Group Inc. grew its stake in shares of Enbridge by 137.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 32,907,433 shares of the pipeline company's stock worth $1,458,128,000 after acquiring an additional 19,074,827 shares during the period. Blackstone Inc. grew its stake in shares of Enbridge by 650.7% during the 4th quarter. Blackstone Inc. now owns 5,718,089 shares of the pipeline company's stock worth $242,619,000 after acquiring an additional 4,956,379 shares during the period. Nuveen LLC bought a new position in shares of Enbridge during the 1st quarter worth $208,490,000. Deutsche Bank AG grew its stake in shares of Enbridge by 13.9% during the 4th quarter. Deutsche Bank AG now owns 36,336,212 shares of the pipeline company's stock worth $1,541,745,000 after acquiring an additional 4,426,684 shares during the period. Finally, Maple Brown Abbott Ltd bought a new position in Enbridge in the 1st quarter worth about $77,976,000. Institutional investors own 54.60% of the company's stock.

Analysts Set New Price Targets

Several brokerages have commented on ENB. Royal Bank Of Canada restated an "outperform" rating and issued a $67.00 target price on shares of Enbridge in a research note on Monday, May 12th. National Bankshares restated a "sector perform" rating on shares of Enbridge in a research note on Tuesday, August 5th. Raymond James Financial upgraded Enbridge to a "moderate buy" rating in a research note on Wednesday, April 23rd. Jefferies Financial Group upgraded Enbridge from a "hold" rating to a "buy" rating in a research note on Wednesday, July 23rd. Finally, Argus raised their target price on Enbridge from $50.00 to $54.00 and gave the stock a "buy" rating in a research note on Tuesday, August 12th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $60.50.

Enbridge Price Performance

Shares of ENB traded up $0.5070 during trading hours on Tuesday, reaching $47.1770. 3,365,359 shares of the company's stock traded hands, compared to its average volume of 4,009,758. The stock has a market cap of $102.87 billion, a PE ratio of 23.24, a price-to-earnings-growth ratio of 4.30 and a beta of 0.79. 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 firm's 50 day simple moving average is $45.57 and its 200-day simple moving average is $44.76. Enbridge Inc has a 12 month low of $38.85 and a 12 month high of $48.21.

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 (EPS) for the quarter, beating analysts' consensus estimates of $0.41 by $0.06. The firm 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 last year, the company posted $0.58 EPS. Equities analysts expect that Enbridge Inc will post 2.14 EPS for the current year.

Enbridge Increases Dividend

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