Nykredit A S Takes $51.75 Million Position in Enbridge Inc $ENB

Key Points

• Nykredit A/S bought 954,686 Enbridge shares worth approximately $51.75 million in the second quarter. Institutional investors and hedge funds collectively own 54.6% of the company.
• Enbridge reported quarterly EPS of $0.46, exceeding the $0.43 consensus estimate, while revenue reached $9.70 billion versus expectations of $8.67 billion. The company also maintains a quarterly dividend of $0.97 per share, representing an 8.0% annualized yield.
• Analysts maintain a broadly positive outlook, with nine Buy ratings and four Holds, producing a consensus “Moderate Buy” rating and an average price target of $71.17 versus the stock’s recent price of $48.68.

Nykredit A S purchased a new position in Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 954,686 shares of the pipeline company's stock, valued at approximately $51,753,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of ENB. Empowered Funds LLC increased its holdings in shares of Enbridge by 24.2% in the first quarter. Empowered Funds LLC now owns 110,014 shares of the pipeline company's stock valued at $5,956,000 after purchasing an additional 21,442 shares during the period. SCS Capital Management LLC acquired a new stake in shares of Enbridge during the second quarter worth about $9,204,000. BlackRock Inc. acquired a new stake in shares of Enbridge during the second quarter worth about $183,623,000. Western Wealth Management LLC raised its position in Enbridge by 346.8% during the 1st quarter. Western Wealth Management LLC now owns 36,190 shares of the pipeline company's stock worth $1,959,000 after buying an additional 28,091 shares during the last quarter. Finally, Markowski Investments acquired a new stake in Enbridge during the 2nd quarter valued at approximately $1,615,000. Hedge funds and other institutional investors own 54.60% of the company's stock.

Enbridge Stock Down 0.1%

Shares of ENB opened at $48.68 on Friday. Enbridge Inc has a 12 month low of $45.03 and a 12 month high of $58.45. The firm has a market cap of $108.50 billion, a P/E ratio of 26.03, a PEG ratio of 5.75 and a beta of 0.57. The company has a current ratio of 0.72, a quick ratio of 0.66 and a debt-to-equity ratio of 1.69. The stock's 50 day moving average is $52.03 and its two-hundred day moving average is $53.73.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last posted its quarterly earnings data on Friday, July 31st. The pipeline company reported $0.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.03. The company had revenue of $9.70 billion for the quarter, compared to analysts' expectations of $8.67 billion. Enbridge had a return on equity of 11.17% and a net margin of 7.20%.During the same period in the previous year, the firm posted $0.65 EPS. Analysts predict that Enbridge Inc will post 2.12 earnings per share for the current fiscal year.

Enbridge Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 1st. Stockholders of record on Friday, August 14th were given a dividend of $0.97 per share. This represents a $3.88 annualized dividend and a dividend yield of 8.0%. The ex-dividend date was Friday, August 14th. Enbridge's dividend payout ratio (DPR) is currently 147.06%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on ENB shares. BMO Capital Markets upgraded shares of Enbridge from a "market perform" rating to an "outperform" rating and set a $79.50 price objective on the stock in a research note on Monday. National Bank Financial raised shares of Enbridge from a "sector perform" rating to an "outperform" rating in a report on Tuesday. Royal Bank Of Canada increased their price target on Enbridge from $79.00 to $84.00 and gave the stock an "outperform" rating in a research report on Monday, August 3rd. Scotiabank reiterated an "outperform" rating on shares of Enbridge in a research note on Tuesday, July 21st. Finally, US Capital Advisors raised Enbridge from a "hold" rating to a "moderate buy" rating in a report on Thursday, August 20th. Nine research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $71.17.

Enbridge Profile

Enbridge Inc is a Canadian energy infrastructure company headquartered in Calgary, Alberta. Founded in 1949 as Interprovincial Pipe Line, the company has grown into one of North America's largest energy delivery businesses, operating primarily in Canada and the United States.

Enbridge's operations include crude oil and liquids pipelines, natural gas transmission and storage, and natural gas distribution and utility services. Its pipeline systems transport energy products from producing regions to refineries, export facilities, utilities and other customers.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.