301,542 Shares in Enbridge Inc $ENB Bought by Point72 Europe London LLP

Key Points

• Point72 Europe London LLP has acquired approximately 301,542 shares of Enbridge Inc, valued at around $13.36 million, during the first quarter.
• The company has recently announced an increase in its quarterly dividend to $0.6839 per share, resulting in an annualized dividend of $2.74 and a yield of 5.7%.
• Analysts' ratings for Enbridge vary, with a consensus of "Moderate Buy" and an average price target of $60.50.

Point72 Europe London LLP acquired a new stake in Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 301,542 shares of the pipeline company's stock, valued at approximately $13,360,000.

Other institutional investors have also recently bought and sold shares of the company. Dagco Inc. bought a new stake in Enbridge in the 1st quarter valued at about $25,000. Garde Capital Inc. bought a new stake in Enbridge in the 1st quarter valued at about $26,000. Financial Gravity Asset Management Inc. bought a new stake in Enbridge in the 1st quarter valued at about $28,000. Accent Capital Management LLC acquired a new position in shares of Enbridge in the 1st quarter valued at approximately $30,000. Finally, Wolff Wiese Magana LLC lifted its holdings in shares of Enbridge by 91.3% during the 1st quarter. Wolff Wiese Magana LLC now owns 765 shares of the pipeline company's stock worth $34,000 after acquiring an additional 365 shares during the period. Institutional investors own 54.60% of the company's stock.

Enbridge Trading Up 0.0%

NYSE ENB traded up $0.02 on Wednesday, hitting $48.32. The company's stock had a trading volume of 2,871,174 shares, compared to its average volume of 3,813,647. The company has a quick ratio of 0.65, a current ratio of 0.75 and a debt-to-equity ratio of 1.58. Enbridge Inc has a 1-year low of $39.73 and a 1-year high of $48.59. The company's 50-day moving average is $46.07 and its 200 day moving average is $45.03. The firm has a market cap of $105.35 billion, a PE ratio of 23.80, a PEG ratio of 4.42 and a beta of 0.80.

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

Enbridge Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 1st. Stockholders of record on Friday, August 15th were given a dividend of $0.6839 per share. This represents a $2.74 annualized dividend and a dividend yield of 5.7%. This is a boost from Enbridge's previous quarterly dividend of $0.68. The ex-dividend date was Friday, August 15th. Enbridge's dividend payout ratio is currently 134.98%.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Jefferies Financial Group raised shares of Enbridge from a "hold" rating to a "buy" rating in a report on Wednesday, July 23rd. Wall Street Zen downgraded shares of Enbridge from a "hold" rating to a "sell" rating in a report on Saturday. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $67.00 price target on shares of Enbridge in a report on Monday, May 12th. Zacks Research raised shares of Enbridge from a "hold" rating to a "strong-buy" rating in a report on Friday, August 15th. Finally, Argus upped their price target on shares of Enbridge from $50.00 to $54.00 and gave the stock a "buy" rating in a report on Tuesday, August 12th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat, Enbridge presently has a consensus rating of "Moderate Buy" and a consensus target price of $60.50.

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.