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1,761,951 Shares in Enbridge Inc (NYSE:ENB) Acquired by Maple Brown Abbott Ltd

Enbridge logo with Energy background

Key Points

  • Maple Brown Abbott Ltd has made a new investment in Enbridge Inc, acquiring approximately 1.76 million shares valued at about $77.98 million, representing about 5.3% of its overall holdings.
  • Enbridge recently reported earnings of $0.47 per share, surpassing analyst expectations, although its revenue of $7.14 billion fell short of the anticipated $10.56 billion.
  • The company announced a quarterly dividend increase to $0.6839 per share, raising its annualized dividend yield to 5.8% with a payout ratio of 133.99%.
  • Looking to export and analyze Enbridge data? Unlock 5 Weeks of MarketBeat All Access for Just $5. Claim Your Limited-Time Discount.

Maple Brown Abbott Ltd purchased a new position in shares of Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 1,761,951 shares of the pipeline company's stock, valued at approximately $77,976,000. Enbridge makes up approximately 5.3% of Maple Brown Abbott Ltd's holdings, making the stock its 11th largest position. Maple Brown Abbott Ltd owned 0.08% of Enbridge at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in Enbridge by 1.7% during the 1st 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. TD Asset Management Inc lifted its position in Enbridge by 1.3% during the 1st 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 lifted its position in Enbridge by 13.9% during the 4th 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. lifted its position 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 valued at $1,458,128,000 after purchasing an additional 19,074,827 shares during the period. Finally, Mackenzie Financial Corp lifted its position in Enbridge by 1.7% during the 4th 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. Institutional investors and hedge funds own 54.60% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Raymond James Financial raised Enbridge to a "moderate buy" rating in a research note on Wednesday, April 23rd. National Bankshares reaffirmed a "sector perform" rating on shares of Enbridge in a research note on Tuesday, August 5th. Wall Street Zen raised Enbridge from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd. BMO Capital Markets reaffirmed a "market perform" rating on shares of Enbridge in a research note on Monday, May 12th. Finally, Jefferies Financial Group raised Enbridge from a "hold" rating to a "buy" rating in a research note on Wednesday, July 23rd. Five research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $60.50.

Read Our Latest Research Report on ENB

Enbridge Trading Down 2.4%

Shares of NYSE:ENB traded down $1.16 during midday trading on Friday, hitting $47.02. 4,289,854 shares of the stock were exchanged, compared to its average volume of 4,024,116. The stock has a market capitalization of $102.53 billion, a price-to-earnings ratio of 23.16, a P/E/G ratio of 4.36 and a beta of 0.79. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.65 and a current ratio of 0.75. The business's 50-day moving average price is $45.54 and its 200 day moving average price is $44.71. Enbridge Inc has a 12 month low of $38.49 and a 12 month high of $48.21.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last released its quarterly earnings results 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 company had revenue of $7.14 billion for 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 earnings per share. Analysts predict that Enbridge Inc will post 2.14 earnings per share for the current year.

Enbridge Increases Dividend

The company also recently declared 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 represents a $2.74 annualized dividend and a dividend yield of 5.8%. This is an increase from Enbridge's previous quarterly dividend of $0.68. The ex-dividend date is Friday, August 15th. Enbridge's dividend payout ratio (DPR) is presently 133.99%.

Enbridge Company Profile

(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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Institutional Ownership by Quarter for Enbridge (NYSE:ENB)

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