Prudential PLC Has $1.30 Million Stake in Enbridge Inc $ENB

Key Points

• Prudential PLC increased its stake in Enbridge Inc by 83.7% in the first quarter, owning 29,297 shares worth approximately $1.3 million.
• Enbridge recently increased its quarterly dividend to $0.6839 per share, representing a 5.7% yield and bringing its annualized dividend to $2.74.
• The company reported an earnings per share (EPS) of $0.47 for the last quarter, exceeding analysts' estimates, though its revenue fell short of expectations at $7.14 billion.

Prudential PLC increased its position in shares of Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB by 83.7% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 29,297 shares of the pipeline company's stock after purchasing an additional 13,350 shares during the quarter. Prudential PLC's holdings in Enbridge were worth $1,297,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. raised its stake in shares of Enbridge by 137.9% in the first quarter. Goldman Sachs Group Inc. now owns 32,907,433 shares of the pipeline company's stock valued at $1,458,128,000 after acquiring an additional 19,074,827 shares during the last quarter. Blackstone Inc. raised its position in Enbridge by 650.7% in the 4th quarter. Blackstone Inc. now owns 5,718,089 shares of the pipeline company's stock worth $242,619,000 after purchasing an additional 4,956,379 shares during the last quarter. Nuveen LLC acquired a new position in shares of Enbridge during the first quarter valued at $208,490,000. Deutsche Bank AG increased its position in Enbridge by 13.9% in the fourth quarter. Deutsche Bank AG now owns 36,336,212 shares of the pipeline company's stock worth $1,541,745,000 after purchasing an additional 4,426,684 shares during the period. Finally, JPMorgan Chase & Co. raised its holdings in Enbridge by 10.5% during the 1st quarter. JPMorgan Chase & Co. now owns 17,643,681 shares of the pipeline company's stock worth $781,792,000 after purchasing an additional 1,680,116 shares during the last quarter. 54.60% of the stock is currently owned by institutional investors and hedge funds.

Enbridge Stock Up 0.7%

Shares of Enbridge stock traded up $0.3250 on Tuesday, hitting $46.9950. The company had a trading volume of 753,105 shares, compared to its average volume of 3,993,402. The stock has a 50-day moving average of $45.57 and a 200-day moving average of $44.76. The company has a debt-to-equity ratio of 1.58, a current ratio of 0.75 and a quick ratio of 0.65. Enbridge Inc has a twelve month low of $38.85 and a twelve month high of $48.21. The firm has a market capitalization of $102.47 billion, a P/E ratio of 23.15, a P/E/G ratio of 4.30 and a beta of 0.79.

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

Enbridge Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 1st. Stockholders of record on Friday, August 15th will be given a $0.6839 dividend. This is a boost from Enbridge's previous quarterly dividend of $0.68. This represents a $2.74 dividend on an annualized basis and a dividend yield of 5.8%. The ex-dividend date of this dividend is Friday, August 15th. Enbridge's payout ratio is presently 134.98%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on ENB. Wall Street Zen raised shares of Enbridge from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd. Argus increased their price objective on shares of Enbridge from $50.00 to $54.00 and gave the company a "buy" rating in a report on Tuesday, August 12th. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $67.00 target price on shares of Enbridge in a report on Monday, May 12th. National Bankshares reissued a "sector perform" rating on shares of Enbridge in a research note on Tuesday, August 5th. Finally, Zacks Research upgraded Enbridge from a "hold" rating to a "strong-buy" rating in a research report on Friday. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, Enbridge has an average 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.