Natixis Advisors LLC Has $29.31 Million Stock Position in Enbridge Inc (NYSE:ENB)

Key Points

• Natixis Advisors LLC significantly increased its stake in Enbridge Inc by 154.1%, owning 661,542 shares worth approximately $29.31 million as of its latest SEC filing.
• Enbridge recently reported $0.72 earnings per share for the quarter, surpassing analyst expectations and showing a net margin of 10.16%, while the company struggles with a revenue miss of $7.27 billion against the estimated $10.20 billion.
• The company announced an increase in its quarterly dividend to $0.6839 per share, representing an annualized yield of 5.9%, with a notable dividend payout ratio of 140.21%.

Natixis Advisors LLC boosted its stake in Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB by 154.1% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 661,542 shares of the pipeline company's stock after buying an additional 401,157 shares during the period. Natixis Advisors LLC's holdings in Enbridge were worth $29,313,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Cannon Wealth Management Services LLC grew its position in shares of Enbridge by 14.9% during the 1st quarter. Cannon Wealth Management Services LLC now owns 17,101 shares of the pipeline company's stock worth $798,000 after purchasing an additional 2,222 shares in the last quarter. North Star Asset Management Inc. grew its position in shares of Enbridge by 9.7% during the 1st quarter. North Star Asset Management Inc. now owns 6,929 shares of the pipeline company's stock worth $307,000 after purchasing an additional 611 shares in the last quarter. SlateStone Wealth LLC grew its position in shares of Enbridge by 7.8% during the 1st quarter. SlateStone Wealth LLC now owns 19,153 shares of the pipeline company's stock worth $849,000 after purchasing an additional 1,386 shares in the last quarter. Mesirow Financial Investment Management Inc. grew its position in shares of Enbridge by 1.1% during the 1st quarter. Mesirow Financial Investment Management Inc. now owns 188,103 shares of the pipeline company's stock worth $8,335,000 after purchasing an additional 1,962 shares in the last quarter. Finally, Arkadios Wealth Advisors grew its position in shares of Enbridge by 12.0% during the 1st quarter. Arkadios Wealth Advisors now owns 11,796 shares of the pipeline company's stock worth $523,000 after purchasing an additional 1,267 shares in the last quarter. Institutional investors and hedge funds own 54.60% of the company's stock.

Enbridge Stock Performance

Shares of Enbridge stock opened at $46.18 on Friday. The company has a market cap of $100.69 billion, a PE ratio of 23.80, a price-to-earnings-growth ratio of 4.22 and a beta of 0.79. The company has a current ratio of 0.73, a quick ratio of 0.66 and a debt-to-equity ratio of 1.51. The company has a 50 day moving average of $45.39 and a 200-day moving average of $44.55. Enbridge Inc has a 1-year low of $36.50 and a 1-year high of $47.44.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last issued its earnings results on Friday, May 9th. The pipeline company reported $0.72 earnings per share for the quarter, beating analysts' consensus estimates of $0.68 by $0.04. Enbridge had a net margin of 10.16% and a return on equity of 10.41%. The firm had revenue of $7.27 billion for the quarter, compared to analyst estimates of $10.20 billion. During the same quarter last year, the business posted $0.92 earnings per share. As a group, equities research analysts forecast that Enbridge Inc will post 2.14 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 1st. Shareholders of record on Friday, August 15th will be given a $0.6839 dividend. 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 yield of 5.9%. The ex-dividend date is Friday, August 15th. Enbridge's dividend payout ratio (DPR) is 140.21%.

Analyst Upgrades and Downgrades

ENB has been the topic of a number of analyst reports. National Bankshares restated a "sector perform" rating on shares of Enbridge in a research report on Monday, May 12th. Royal Bank Of Canada restated an "outperform" rating and set a $67.00 target price on shares of Enbridge in a research report on Monday, May 12th. Citigroup started coverage on shares of Enbridge in a research report on Friday, April 4th. They set a "buy" rating on the stock. BMO Capital Markets reaffirmed a "market perform" rating on shares of Enbridge in a report on Monday, May 12th. Finally, Jefferies Financial Group raised shares of Enbridge from a "hold" rating to a "buy" rating in a report on Wednesday, July 23rd. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $67.00.

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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