Independent Advisor Alliance Increases Stock Position in Enbridge Inc (NYSE:ENB)

Key Points

• Independent Advisor Alliance has increased its stake in Enbridge Inc by 9.3% in the first quarter, owning a total of 97,825 shares worth approximately $4.34 million.
• Enbridge recently announced a quarterly dividend increase to $0.6839 per share, resulting in an annualized dividend yield of 5.8%.
• Analysts have a consensus rating of "Moderate Buy" for Enbridge, with a target price of $67.00 per share, reflecting positive growth expectations.

Independent Advisor Alliance increased its position in shares of Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB by 9.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 97,825 shares of the pipeline company's stock after buying an additional 8,345 shares during the period. Independent Advisor Alliance's holdings in Enbridge were worth $4,335,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in Enbridge by 1.7% during the first quarter. Vanguard Group Inc. now owns 93,187,025 shares of the pipeline company's stock worth $4,124,271,000 after purchasing an additional 1,569,879 shares during the last quarter. TD Asset Management Inc raised its position in Enbridge by 1.3% in the first quarter. TD Asset Management Inc now owns 39,265,817 shares of the pipeline company's stock valued at $1,737,602,000 after purchasing an additional 513,058 shares during the period. Deutsche Bank AG raised its position in Enbridge by 13.9% in the fourth quarter. Deutsche Bank AG now owns 36,336,212 shares of the pipeline company's stock valued at $1,541,745,000 after purchasing an additional 4,426,684 shares during the period. Goldman Sachs Group Inc. raised its position in Enbridge by 137.9% in the first quarter. Goldman Sachs Group Inc. now owns 32,907,433 shares of the pipeline company's stock valued at $1,458,128,000 after purchasing an additional 19,074,827 shares during the period. Finally, Mackenzie Financial Corp boosted its stake in shares of Enbridge by 1.7% in the fourth quarter. Mackenzie Financial Corp now owns 18,880,985 shares of the pipeline company's stock valued at $800,507,000 after purchasing an additional 319,435 shares during the period. 54.60% of the stock is owned by hedge funds and other institutional investors.

Enbridge Stock Up 1.1%

ENB opened at $47.51 on Tuesday. 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 1 year low of $38.44 and a 1 year high of $47.62. The firm has a 50 day moving average price of $45.49 and a 200 day moving average price of $44.65. The company has a market cap of $103.60 billion, a PE ratio of 23.41, a price-to-earnings-growth ratio of 4.32 and a beta of 0.79.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last issued its quarterly earnings data on Friday, August 1st. The pipeline company reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.06. Enbridge had a net margin of 10.11% and a return on equity of 10.77%. The company had revenue of $7.14 billion during the quarter, compared to the consensus estimate of $10.56 billion. During the same quarter last year, the company earned $0.58 earnings per share. Sell-side analysts expect that Enbridge Inc will post 2.14 earnings per share 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 paid a dividend of $0.6839 per share. This represents a $2.74 annualized dividend and a yield of 5.8%. This is a boost from Enbridge's previous quarterly dividend of $0.68. The ex-dividend date is Friday, August 15th. Enbridge's dividend payout ratio (DPR) is 133.99%.

Wall Street Analysts Forecast Growth

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

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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