Jones Financial Companies Lllp Has $54.91 Million Stock Holdings in Enbridge Inc $ENB

Key Points

• Jones Financial Companies Lllp increased its holdings in Enbridge Inc by 31.7%, owning a total of 1,235,046 shares, valued at approximately $54.91 million.
• Enbridge recently reported earnings of $0.47 per share, surpassing analysts' expectations of $0.41, despite revenues of $7.14 billion falling short of the consensus estimate.
• The company declared a quarterly dividend of $0.6839 per share, increasing from the previous dividend, representing an annual yield of 5.6%.

Jones Financial Companies Lllp grew its holdings in Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB by 31.7% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,235,046 shares of the pipeline company's stock after buying an additional 297,033 shares during the quarter. Jones Financial Companies Lllp owned 0.06% of Enbridge worth $54,908,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in ENB. Goldman Sachs Group Inc. increased its position 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 purchasing an additional 19,074,827 shares in the last quarter. Nuveen LLC acquired a new stake in shares of Enbridge during the 1st quarter worth about $208,490,000. Canada Pension Plan Investment Board increased its position in Enbridge by 39.7% in the 1st quarter. Canada Pension Plan Investment Board now owns 9,525,987 shares of the pipeline company's stock valued at $421,675,000 after acquiring an additional 2,707,068 shares in the last quarter. Maple Brown Abbott Ltd acquired a new stake in Enbridge in the 1st quarter valued at about $77,976,000. Finally, JPMorgan Chase & Co. increased its position in Enbridge by 10.5% in the 1st quarter. JPMorgan Chase & Co. now owns 17,643,681 shares of the pipeline company's stock valued at $781,792,000 after acquiring an additional 1,680,116 shares in the last quarter. Institutional investors and hedge funds own 54.60% of the company's stock.

Enbridge Trading Up 0.6%

ENB opened at $49.11 on Friday. The company has a quick ratio of 0.65, a current ratio of 0.75 and a debt-to-equity ratio of 1.58. The stock has a market capitalization of $107.10 billion, a price-to-earnings ratio of 24.19, a P/E/G ratio of 4.46 and a beta of 0.80. Enbridge Inc has a twelve month low of $39.73 and a twelve month high of $49.11. The company has a 50-day simple moving average of $46.65 and a 200 day simple moving average of $45.38.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last released its earnings results on Friday, August 1st. The pipeline company reported $0.47 earnings per share for the quarter, beating analysts' consensus estimates of $0.41 by $0.06. Enbridge had a net margin of 10.11% and a return on equity of 10.77%. The business had revenue of $7.14 billion during the quarter, compared to the consensus estimate of $10.56 billion. During the same quarter in the prior year, the firm posted $0.58 EPS. Analysts predict that Enbridge Inc will post 2.14 EPS for the current fiscal year.

Enbridge Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 1st. Investors of record on Friday, August 15th were given a dividend of $0.6839 per share. This is an increase from Enbridge's previous quarterly dividend of $0.68. The ex-dividend date of this dividend was Friday, August 15th. This represents a $2.74 dividend on an annualized basis and a yield of 5.6%. Enbridge's dividend payout ratio is 134.98%.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. National Bankshares restated a "sector perform" rating on shares of Enbridge in a research report on Tuesday, August 5th. Zacks Research raised shares of Enbridge from a "hold" rating to a "strong-buy" rating in a research note on Friday, August 15th. Jefferies Financial Group raised shares of Enbridge from a "hold" rating to a "buy" rating in a research note on Wednesday, July 23rd. Wall Street Zen raised shares of Enbridge from a "sell" rating to a "hold" rating in a research note on Saturday. Finally, Argus raised their target price on shares of Enbridge from $50.00 to $54.00 and gave the company a "buy" rating in a research note on Tuesday, August 12th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, Enbridge 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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