Jacobs & Co. CA Has $11.80 Million Stock Holdings in Enbridge Inc $ENB

Key Points

• Jacobs & Co. CA reduced its stake in Enbridge Inc by 2.8%, holding 260,441 shares valued at approximately $11.8 million as of the latest SEC filing.
• Enbridge recently announced a dividend increase to $0.6839 per share, translating to a 5.6% yield, with a payout ratio of 134.98%.
• Various institutional investors have altered their positions in Enbridge, with significant increases in holdings reported by Goldman Sachs (137.9%) and Vanguard Group (1.7%) during the latest quarter.

Jacobs & Co. CA lessened its position in Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB by 2.8% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 260,441 shares of the pipeline company's stock after selling 7,451 shares during the period. Jacobs & Co. CA's holdings in Enbridge were worth $11,803,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the business. Vanguard Group Inc. raised its holdings in shares of Enbridge by 1.7% in the first quarter. Vanguard Group Inc. now owns 93,187,025 shares of the pipeline company's stock valued at $4,124,271,000 after buying an additional 1,569,879 shares during the last quarter. GQG Partners LLC raised its holdings in shares of Enbridge by 1.5% in the first quarter. GQG Partners LLC now owns 75,439,320 shares of the pipeline company's stock valued at $3,338,405,000 after buying an additional 1,148,580 shares during the last quarter. TD Asset Management Inc raised its holdings in shares of 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 buying an additional 513,058 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of 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 buying an additional 19,074,827 shares during the last quarter. Finally, Mackenzie Financial Corp raised its holdings 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 buying an additional 319,435 shares during the last quarter. 54.60% of the stock is owned by institutional investors.

Enbridge Stock Performance

Shares of NYSE:ENB opened at $49.11 on Friday. The stock has a market capitalization of $107.10 billion, a P/E ratio of 24.19, a P/E/G ratio of 4.46 and a beta of 0.80. Enbridge Inc has a 1-year low of $39.73 and a 1-year high of $49.11. 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 business has a 50-day moving average price of $46.65 and a two-hundred day moving average price of $45.36.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last announced its quarterly earnings data on Friday, August 1st. The pipeline company reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.06. The firm had revenue of $7.14 billion during the quarter, compared to analysts' expectations of $10.56 billion. Enbridge had a return on equity of 10.77% and a net margin of 10.11%.During the same period in the previous year, the business posted $0.58 EPS. Equities analysts predict 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 was paid on Monday, September 1st. Shareholders of record on Friday, August 15th were issued a dividend of $0.6839 per share. The ex-dividend date of this dividend was Friday, August 15th. This represents a $2.74 annualized dividend and a yield of 5.6%. This is an increase from Enbridge's previous quarterly dividend of $0.68. Enbridge's dividend payout ratio (DPR) is presently 134.98%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Jefferies Financial Group raised Enbridge from a "hold" rating to a "buy" rating in a report on Wednesday, July 23rd. Argus lifted their price target on Enbridge from $50.00 to $54.00 and gave the company a "buy" rating in a report on Tuesday, August 12th. National Bankshares reaffirmed a "sector perform" rating on shares of Enbridge in a report on Tuesday, August 5th. Zacks Research raised Enbridge from a "hold" rating to a "strong-buy" rating in a report on Friday, August 15th. Finally, Wall Street Zen raised Enbridge from a "sell" rating to a "hold" rating in a report on Saturday. 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. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $60.50.

About Enbridge

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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