Northwest & Ethical Investments L.P. Acquires 144,029 Shares of Enbridge Inc $ENB

Key Points

• Northwest & Ethical Investments L.P. increased its stake in Enbridge Inc by 17.1%, holding approximately 987,592 shares valued at $43.74 million.
• Enbridge recently reported an earnings per share (EPS) of $0.47, exceeding analysts' expectations of $0.41, and had a net margin of 10.11%.
• The company announced a quarterly dividend increase to $0.6839 per share, resulting in an annualized dividend yield of 5.8%.

Northwest & Ethical Investments L.P. grew its position in shares of Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB by 17.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 987,592 shares of the pipeline company's stock after acquiring an additional 144,029 shares during the quarter. Enbridge comprises about 1.2% of Northwest & Ethical Investments L.P.'s investment portfolio, making the stock its 10th largest holding. Northwest & Ethical Investments L.P.'s holdings in Enbridge were worth $43,736,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of ENB. Dagco Inc. bought a new stake in shares of Enbridge during the first quarter valued at about $25,000. Garde Capital Inc. bought a new stake in shares of Enbridge during the first quarter valued at about $26,000. Financial Gravity Asset Management Inc. bought a new stake in shares of Enbridge during the first quarter valued at about $28,000. Accent Capital Management LLC bought a new stake in shares of Enbridge during the first quarter valued at about $30,000. Finally, GeoWealth Management LLC raised its stake in shares of Enbridge by 436.4% during the fourth quarter. GeoWealth Management LLC now owns 751 shares of the pipeline company's stock valued at $32,000 after purchasing an additional 611 shares in the last quarter. Institutional investors and hedge funds own 54.60% of the company's stock.

Wall Street Analyst Weigh In

ENB has been the topic of a number of recent analyst reports. Argus lifted their price objective on shares of Enbridge from $50.00 to $54.00 and gave the company a "buy" rating in a research note on Tuesday, August 12th. Royal Bank Of Canada restated an "outperform" rating and set a $67.00 price objective on shares of Enbridge in a research note on Monday, May 12th. BMO Capital Markets restated a "market perform" rating on shares of Enbridge in a research note on Monday, May 12th. Wall Street Zen upgraded shares of Enbridge from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd. Finally, National Bankshares restated a "sector perform" rating on shares of Enbridge in a research note on Tuesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat, Enbridge has an average rating of "Moderate Buy" and a consensus target price of $60.50.

Enbridge Price Performance

Enbridge stock traded up $0.8150 during midday trading on Wednesday, hitting $48.0050. The company's stock had a trading volume of 4,189,500 shares, compared to its average volume of 4,011,633. The company has a quick ratio of 0.65, a current ratio of 0.75 and a debt-to-equity ratio of 1.58. The stock's 50-day moving average price is $45.60 and its 200-day moving average price is $44.77. Enbridge Inc has a 12 month low of $38.85 and a 12 month high of $48.21. The company has a market capitalization of $104.68 billion, a PE ratio of 23.65, a price-to-earnings-growth ratio of 4.27 and a beta of 0.79.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last issued its quarterly earnings results on Friday, August 1st. The pipeline company reported $0.47 EPS for the quarter, topping the consensus estimate of $0.41 by $0.06. The firm had revenue of $7.14 billion for the quarter, compared to analysts' expectations 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 earned $0.58 earnings per share. Analysts anticipate that Enbridge Inc will post 2.14 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 1st. Shareholders 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 yield of 5.7%. The ex-dividend date is Friday, August 15th. This is a boost from Enbridge's previous quarterly dividend of $0.68. Enbridge's dividend payout ratio is presently 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.