Park Avenue Securities LLC Takes Position in Enbridge Inc $ENB

Key Points

• Park Avenue Securities LLC has acquired a new position in Enbridge Inc, purchasing 39,511 shares valued at approximately $1.79 million in the second quarter.
• Analysts have issued mixed ratings on Enbridge, with reports showing a downgrade from "hold" to "sell," while another firm raised the target price to $54.00 with a "buy" rating.
• Enbridge recently increased its quarterly dividend to $0.6839 per share, resulting in an annualized dividend of $2.74 and a yield of 5.5% for shareholders.

Park Avenue Securities LLC acquired a new position in Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 39,511 shares of the pipeline company's stock, valued at approximately $1,788,000.

Several other hedge funds and other institutional investors have also bought and sold shares of ENB. Brighton Jones LLC bought a new stake in Enbridge during the fourth quarter valued at about $261,000. Integrated Advisors Network LLC boosted its holdings in shares of Enbridge by 71.9% in the 4th quarter. Integrated Advisors Network LLC now owns 14,330 shares of the pipeline company's stock valued at $608,000 after buying an additional 5,996 shares in the last quarter. Aegis Wealth Management LLC bought a new position in shares of Enbridge during the 4th quarter worth approximately $348,000. Anchor Pointe Wealth Management LLC bought a new position in shares of Enbridge during the 4th quarter worth approximately $233,000. Finally, Wellington Management Group LLP lifted its position in Enbridge by 0.7% during the fourth quarter. Wellington Management Group LLP now owns 1,150,521 shares of the pipeline company's stock valued at $48,806,000 after acquiring an additional 7,890 shares during the last quarter. Institutional investors own 54.60% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Wall Street Zen downgraded Enbridge from a "hold" rating to a "sell" rating in a research report on Sunday. Argus upped 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. National Bankshares reissued a "sector perform" rating on shares of Enbridge in a report on Tuesday, August 5th. Zacks Research lowered Enbridge from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, September 17th. Finally, Jefferies Financial Group raised shares of Enbridge from a "hold" rating to a "buy" rating in a research report on Wednesday, July 23rd. Six equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $60.50.

Enbridge Price Performance

Shares of ENB opened at $49.96 on Thursday. The business's 50-day moving average is $47.40 and its two-hundred day moving average is $45.75. The company has a market capitalization of $108.94 billion, a P/E ratio of 24.61, a P/E/G ratio of 4.54 and a beta of 0.80. Enbridge Inc has a fifty-two week low of $39.73 and a fifty-two week high of $50.15. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.65 and a current ratio of 0.75.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last issued its earnings results on Friday, August 1st. The pipeline company reported $0.47 EPS for the quarter, topping analysts' consensus estimates of $0.41 by $0.06. The firm had revenue of $7.14 billion for the quarter, compared to the consensus estimate of $10.56 billion. Enbridge had a return on equity of 10.77% and a net margin of 10.11%.During the same quarter in the prior year, the business earned $0.58 earnings per share. Research analysts predict that Enbridge Inc will post 2.14 earnings per share for the current year.

Enbridge Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 1st. Stockholders of record on Friday, August 15th were issued a dividend of $0.6839 per share. This is a positive change from Enbridge's previous quarterly dividend of $0.68. The ex-dividend date of this dividend was Friday, August 15th. This represents a $2.74 annualized dividend and a dividend yield of 5.5%. Enbridge's 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.

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