Johnson Financial Group LLC acquired a new stake in shares of Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 5,876 shares of the pipeline company's stock, valued at approximately $260,000.
A number of other institutional investors and hedge funds also recently modified their holdings of ENB. JPMorgan Chase & Co. boosted its position in Enbridge by 10.5% during the first quarter. JPMorgan Chase & Co. now owns 17,643,681 shares of the pipeline company's stock valued at $781,792,000 after purchasing an additional 1,680,116 shares during the last quarter. Lcnb Corp boosted its position in Enbridge by 3.4% during the first quarter. Lcnb Corp now owns 14,141 shares of the pipeline company's stock valued at $627,000 after purchasing an additional 462 shares during the last quarter. Zions Bancorporation National Association UT acquired a new stake in Enbridge during the first quarter valued at $11,339,000. Townsquare Capital LLC boosted its position in Enbridge by 1.6% during the first quarter. Townsquare Capital LLC now owns 355,315 shares of the pipeline company's stock valued at $15,744,000 after purchasing an additional 5,671 shares during the last quarter. Finally, Founders Financial Alliance LLC boosted its position in Enbridge by 31.3% during the first quarter. Founders Financial Alliance LLC now owns 17,294 shares of the pipeline company's stock valued at $766,000 after purchasing an additional 4,124 shares during the last quarter. Institutional investors and hedge funds own 54.60% of the company's stock.
Enbridge Trading Up 1.1%
Shares of ENB stock traded up $0.52 during trading hours on Monday, hitting $47.51. 3,756,836 shares of the company's stock traded hands, compared to its average volume of 3,850,334. The stock's 50 day simple moving average is $45.49 and its 200 day simple moving average is $44.65. The stock 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 Inc has a 12 month low of $38.44 and a 12 month high of $47.62. 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 (NYSE:ENB - Get Free Report) TSE: ENB last announced its earnings results on Friday, August 1st. The pipeline company reported $0.47 earnings per share for the quarter, topping 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 net margin of 10.11% and a return on equity of 10.77%. During the same quarter last year, the firm earned $0.58 earnings per share. On average, sell-side analysts anticipate that Enbridge Inc will post 2.14 EPS for the current year.
Enbridge Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 1st. Stockholders of record on Friday, August 15th will be issued a dividend of $0.6839 per share. This is an increase from Enbridge's previous quarterly dividend of $0.68. This represents a $2.74 dividend on an annualized basis and a dividend yield of 5.8%. The ex-dividend date is Friday, August 15th. Enbridge's dividend payout ratio is 133.99%.
Wall Street Analyst Weigh In
Several equities research analysts have recently issued reports on the company. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $67.00 price target on shares of Enbridge in a research report on Monday, May 12th. BMO Capital Markets reissued a "market perform" rating on shares of Enbridge in a report on Monday, May 12th. Wall Street Zen raised shares of Enbridge from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd. Raymond James Financial raised shares of Enbridge to a "moderate buy" rating in a report on Wednesday, April 23rd. Finally, Jefferies Financial Group upgraded shares of Enbridge from a "hold" rating to a "buy" rating in a research 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. Based on data from MarketBeat, Enbridge has an average rating of "Moderate Buy" and a consensus price target of $67.00.
Check Out Our Latest Analysis 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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