MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Boosts Stock Position in Enbridge Inc $ENB

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Enbridge Inc by 4.6% in the first quarter, owning 5,416,581 shares valued at approximately $240.01 million.
• Enbridge recently announced an increase in its quarterly dividend to $0.6839 per share, resulting in an annualized dividend yield of 5.7%.
• Analysts have varied opinions on Enbridge, with one rating it as a Strong Buy and others providing ratings ranging from Buy to Sell, reflecting a moderate consensus for the stock.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB by 4.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,416,581 shares of the pipeline company's stock after purchasing an additional 238,946 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned about 0.25% of Enbridge worth $240,009,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in ENB. Goldman Sachs Group Inc. grew its position in Enbridge by 137.9% during 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 period. Nuveen LLC purchased a new stake in shares of Enbridge during the 1st quarter worth about $208,490,000. Deutsche Bank AG grew its position in shares of 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 acquiring an additional 4,426,684 shares during the period. Canada Pension Plan Investment Board raised its holdings 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 worth $421,675,000 after purchasing an additional 2,707,068 shares during the period. Finally, Maple Brown Abbott Ltd purchased a new position in Enbridge during the first quarter worth approximately $77,976,000. 54.60% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Argus increased their target price on Enbridge from $50.00 to $54.00 and gave the company a "buy" rating in a research report on Tuesday, August 12th. Wall Street Zen lowered shares of Enbridge from a "hold" rating to a "sell" rating in a research report on Saturday, August 30th. Jefferies Financial Group upgraded shares of Enbridge from a "hold" rating to a "buy" rating in a research report on Wednesday, July 23rd. Royal Bank Of Canada reiterated an "outperform" rating and issued a $67.00 price objective on shares of Enbridge in a report on Monday, May 12th. Finally, National Bankshares reissued a "sector perform" rating on shares of Enbridge in a report on Tuesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $60.50.

Enbridge Trading Up 0.0%

Shares of NYSE ENB traded up $0.01 during trading on Tuesday, hitting $48.33. 2,632,761 shares of the company were exchanged, compared to its average volume of 3,959,078. The company has a fifty day moving average price of $46.34 and a 200-day moving average price of $45.21. 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 firm has a market capitalization of $105.38 billion, a PE ratio of 23.81, a P/E/G ratio of 4.41 and a beta of 0.80. Enbridge Inc has a 12-month low of $39.73 and a 12-month high of $48.68.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last posted its earnings results 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 previous year, the business posted $0.58 EPS. As a group, equities research analysts expect that Enbridge Inc will post 2.14 EPS for the current year.

Enbridge Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 1st. Shareholders of record on Friday, August 15th were given a dividend of $0.6839 per share. This is a boost from Enbridge's previous quarterly dividend of $0.68. This represents a $2.74 dividend on an annualized basis and a dividend yield of 5.7%. The ex-dividend date was Friday, August 15th. Enbridge's dividend payout ratio (DPR) is 134.98%.

Enbridge Company Profile

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.