Kovitz Investment Group Partners LLC Has $1.38 Million Stake in Enbridge Inc $ENB

Key Points

• Kovitz Investment Group Partners LLC increased its holdings in Enbridge Inc by 302.2% during the first quarter, acquiring an additional 23,387 shares, bringing their total to 31,127 shares worth approximately $1.38 million.
• Enbridge recently announced a quarterly dividend of $0.6839, which represents a 5.9% dividend yield, up from the previous quarter's dividend of $0.68.
• Despite a recent EPS report of $0.47, which beat expectations, Enbridge's stock saw a 0.7% decline on the market, currently priced at approximately $46.71.

Kovitz Investment Group Partners LLC boosted its position in shares of Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB by 302.2% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 31,127 shares of the pipeline company's stock after purchasing an additional 23,387 shares during the quarter. Kovitz Investment Group Partners LLC's holdings in Enbridge were worth $1,379,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in Enbridge by 1.7% during 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 purchasing an additional 1,569,879 shares during the period. GQG Partners LLC lifted its position in Enbridge by 1.5% in the 1st quarter. GQG Partners LLC now owns 75,439,320 shares of the pipeline company's stock valued at $3,338,405,000 after acquiring an additional 1,148,580 shares in the last quarter. TD Asset Management Inc boosted its stake in Enbridge by 1.3% in the 1st quarter. TD Asset Management Inc now owns 39,265,817 shares of the pipeline company's stock worth $1,737,602,000 after purchasing an additional 513,058 shares during the period. Deutsche Bank AG increased its holdings in 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 purchasing an additional 4,426,684 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its holdings in 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. Institutional investors and hedge funds own 54.60% of the company's stock.

Analyst Ratings Changes

ENB has been the subject of a number of research reports. Argus increased their price objective on Enbridge from $50.00 to $54.00 and gave the stock a "buy" rating in a report on Tuesday, August 12th. National Bankshares reaffirmed a "sector perform" rating on shares of Enbridge in a research note on Tuesday, August 5th. Zacks Research raised shares of Enbridge from a "hold" rating to a "strong-buy" rating in a research report on Friday, August 15th. Wall Street Zen raised shares of Enbridge from a "sell" rating to a "hold" rating in a research report on Thursday, May 22nd. Finally, BMO Capital Markets reaffirmed a "market perform" rating on shares of Enbridge in a research report on Monday, May 12th. One 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 stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $60.50.

Enbridge Stock Performance

Shares of ENB traded up $0.0050 during trading hours on Friday, hitting $47.9450. The company had a trading volume of 5,030,181 shares, compared to its average volume of 3,850,256. The firm has a market cap of $104.54 billion, a price-to-earnings ratio of 23.62, a PEG ratio of 4.39 and a beta of 0.79. The business has a fifty day moving average of $45.69 and a 200-day moving average of $44.87. Enbridge Inc has a 12 month low of $39.25 and a 12 month high of $48.29. 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 issued its quarterly earnings data on Friday, August 1st. The pipeline company reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.06. The company had revenue of $7.14 billion for the quarter, compared to analyst estimates of $10.56 billion. Enbridge had a net margin of 10.11% and a return on equity of 10.77%. During the same period in the prior year, the firm earned $0.58 earnings per share. Equities analysts anticipate 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 will be paid on Monday, September 1st. Investors of record on Friday, August 15th will be given a dividend of $0.6839 per share. This is a positive change from Enbridge's previous quarterly dividend of $0.68. This represents a $2.74 dividend on an annualized basis and a yield of 5.7%. The ex-dividend date of this dividend is Friday, August 15th. Enbridge's payout ratio is 134.98%.

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.