Partners Group Holding AG Trims Stock Position in Enbridge Inc (NYSE:ENB)

Key Points

• Partners Group Holding AG has reduced its stake in Enbridge Inc by 3.5%, now holding 288,946 shares valued at approximately $12.95 million following the sale of 10,526 shares.
• Enbridge recently increased its quarterly dividend to $0.6839 per share, up from $0.68, representing a dividend yield of 5.8% and an annual payout of $2.74.
• Several institutional investors, including Goldman Sachs Group and Vanguard Group, have increased their positions in Enbridge, indicating a trend of growing confidence among key market players.

Partners Group Holding AG lessened its stake in shares of Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB by 3.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 288,946 shares of the pipeline company's stock after selling 10,526 shares during the quarter. Partners Group Holding AG's holdings in Enbridge were worth $12,947,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of ENB. Vanguard Group Inc. raised its position in Enbridge by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 93,187,025 shares of the pipeline company's stock valued at $4,124,271,000 after purchasing an additional 1,569,879 shares during the last quarter. GQG Partners LLC raised its position in Enbridge by 1.5% in the 1st quarter. GQG Partners LLC now owns 75,439,320 shares of the pipeline company's stock valued at $3,338,405,000 after purchasing an additional 1,148,580 shares during the last quarter. TD Asset Management Inc raised its position in Enbridge by 1.3% in the 1st quarter. TD Asset Management Inc now owns 39,265,817 shares of the pipeline company's stock valued at $1,737,602,000 after purchasing an additional 513,058 shares during the last quarter. Deutsche Bank AG raised its position in Enbridge by 13.9% in the 4th quarter. Deutsche Bank AG now owns 36,336,212 shares of the pipeline company's stock valued at $1,541,745,000 after purchasing an additional 4,426,684 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its position in Enbridge by 137.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 32,907,433 shares of the pipeline company's stock valued at $1,458,128,000 after purchasing an additional 19,074,827 shares during the last quarter. Hedge funds and other institutional investors own 54.60% of the company's stock.

Enbridge Stock Performance

Shares of ENB opened at $47.02 on Friday. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.65 and a current ratio of 0.75. The stock has a market capitalization of $102.53 billion, a P/E ratio of 23.16, a P/E/G ratio of 4.41 and a beta of 0.79. The company's fifty day moving average is $45.55 and its two-hundred day moving average is $44.73. Enbridge Inc has a 1 year low of $38.49 and a 1 year high of $48.21.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last announced its quarterly earnings data on Friday, August 1st. The pipeline company reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.06. The company 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 company posted $0.58 EPS. On average, sell-side analysts predict that Enbridge Inc will post 2.14 earnings per share for the current year.

Enbridge Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 1st. Stockholders of record on Friday, August 15th will be paid a dividend of $0.6839 per share. This is a boost from Enbridge's previous quarterly dividend of $0.68. The ex-dividend date of this dividend is Friday, August 15th. This represents a $2.74 dividend on an annualized basis and a dividend yield of 5.8%. Enbridge's dividend payout ratio is currently 133.99%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Raymond James Financial upgraded shares of Enbridge to a "moderate buy" rating in a research report on Wednesday, April 23rd. Wall Street Zen upgraded shares of Enbridge from a "sell" rating to a "hold" rating in a research report on Thursday, May 22nd. Jefferies Financial Group upgraded shares of Enbridge from a "hold" rating to a "buy" rating in a research report on Wednesday, July 23rd. Royal Bank Of Canada reiterated an "outperform" rating and issued a $67.00 price target on shares of Enbridge in a research report on Monday, May 12th. Finally, Argus boosted 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. Five analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $60.50.

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.

Want to see what other hedge funds are holding ENB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.