Enbridge Inc $ENB Shares Bought by Mn Services Vermogensbeheer B.V.

Key Points

• Mn Services Vermogensbeheer B.V. increased its holdings in Enbridge Inc by 4.5% during Q2, buying an additional 17,200 shares, bringing their total to 396,600 shares valued at approximately $17.9 million.
• Several hedge funds have recently adjusted their positions in Enbridge, with institutional investors now owning 54.60% of the company’s stock.
• Enbridge declared a quarterly dividend of $0.6839, marking an increase from the previous dividend, and offering a yield of 5.6% as part of its financial strategy.

Mn Services Vermogensbeheer B.V. boosted its position in Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB by 4.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 396,600 shares of the pipeline company's stock after purchasing an additional 17,200 shares during the period. Mn Services Vermogensbeheer B.V.'s holdings in Enbridge were worth $17,948,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in the company. Dagco Inc. purchased a new position in shares of Enbridge during the first quarter worth approximately $25,000. Garde Capital Inc. purchased a new position in shares of Enbridge during the first quarter worth approximately $26,000. Financial Gravity Asset Management Inc. purchased a new position in shares of Enbridge during the first quarter worth approximately $28,000. Accent Capital Management LLC purchased a new position in shares of Enbridge during the first quarter worth approximately $30,000. Finally, Wolff Wiese Magana LLC increased its position in shares of Enbridge by 91.3% during the first quarter. Wolff Wiese Magana LLC now owns 765 shares of the pipeline company's stock worth $34,000 after acquiring an additional 365 shares during the period. Institutional investors own 54.60% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. Zacks Research lowered shares of Enbridge from a "strong-buy" rating to a "hold" rating in a report on Wednesday, September 17th. Wall Street Zen lowered shares of Enbridge from a "hold" rating to a "sell" rating in a report on Sunday. Argus lifted their price objective on shares of Enbridge from $50.00 to $54.00 and gave the company a "buy" rating in a report on Tuesday, August 12th. Jefferies Financial Group raised shares of Enbridge from a "hold" rating to a "buy" rating in a report on Wednesday, July 23rd. Finally, National Bankshares reissued a "sector perform" rating on shares of Enbridge in a report on Tuesday, August 5th. Six research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $60.50.

Enbridge Stock Performance

Shares of NYSE:ENB traded down $0.25 on Monday, hitting $49.21. 3,258,334 shares of the company were exchanged, compared to its average volume of 2,820,199. Enbridge Inc has a 1-year low of $39.73 and a 1-year high of $49.60. The stock's 50 day moving average price is $47.22 and its 200 day moving average price is $45.70. The company has a current ratio of 0.75, a quick ratio of 0.65 and a debt-to-equity ratio of 1.58. The firm has a market capitalization of $107.31 billion, a P/E ratio of 24.24, a price-to-earnings-growth ratio of 4.52 and a beta of 0.80.

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 (EPS) for the quarter, beating analysts' consensus estimates of $0.41 by $0.06. The company 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 period in the previous year, the firm posted $0.58 earnings per share. Sell-side analysts predict that Enbridge Inc will post 2.14 EPS for the current year.

Enbridge Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 1st. Stockholders of record on Friday, August 15th were paid 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 5.6%. The ex-dividend date of this dividend was Friday, August 15th. Enbridge's dividend payout ratio is presently 134.98%.

Enbridge 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.