37,237 Shares in Enbridge Inc $ENB Acquired by Sciencast Management LP

Key Points

• Sciencast Management LP has invested $1.65 million in Enbridge Inc, acquiring 37,237 shares in the pipeline company during the first quarter.
• Enbridge recently boosted its quarterly dividend to $0.6839 per share, resulting in an annualized dividend of $2.74 and a dividend yield of 5.7%.
• The company reported earnings of $0.47 per share, exceeding analysts' expectations, although its revenue for the quarter fell short of predictions at $7.14 billion.

Sciencast Management LP acquired a new stake in shares of Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 37,237 shares of the pipeline company's stock, valued at approximately $1,650,000.

A number of other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of Enbridge by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 93,187,025 shares of the pipeline company's stock worth $4,124,271,000 after purchasing an additional 1,569,879 shares during the period. GQG Partners LLC boosted its stake in shares of Enbridge by 1.5% during the 1st quarter. GQG Partners LLC now owns 75,439,320 shares of the pipeline company's stock worth $3,338,405,000 after purchasing an additional 1,148,580 shares during the period. TD Asset Management Inc boosted its stake in shares of Enbridge by 1.3% during the 1st quarter. TD Asset Management Inc now owns 39,265,817 shares of the pipeline company's stock worth $1,737,602,000 after purchasing an additional 513,058 shares during the period. Goldman Sachs Group Inc. boosted its stake in shares of Enbridge by 137.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 32,907,433 shares of the pipeline company's stock worth $1,458,128,000 after purchasing an additional 19,074,827 shares during the period. Finally, Mackenzie Financial Corp boosted its stake in shares of Enbridge by 1.7% during the 4th quarter. Mackenzie Financial Corp now owns 18,880,985 shares of the pipeline company's stock worth $800,507,000 after purchasing an additional 319,435 shares during the period. 54.60% of the stock is owned by hedge funds and other institutional investors.

Enbridge Stock Up 0.6%

Shares of ENB traded up $0.30 during mid-day trading on Friday, hitting $49.11. The company's stock had a trading volume of 2,011,439 shares, compared to its average volume of 3,930,258. The company's 50-day moving average is $46.56 and its 200-day moving average is $45.30. Enbridge Inc has a 52-week low of $39.73 and a 52-week high of $49.11. The firm has a market capitalization of $107.10 billion, a price-to-earnings ratio of 24.19, a PEG ratio of 4.44 and a beta of 0.80. The company has a current ratio of 0.75, a quick ratio of 0.65 and a debt-to-equity ratio of 1.58.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last announced its quarterly earnings results 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. The firm had revenue of $7.14 billion during 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 quarter in the prior year, the company earned $0.58 EPS. On average, equities research analysts forecast that Enbridge Inc will post 2.14 EPS for the current fiscal year.

Enbridge Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 1st. Investors of record on Friday, August 15th were 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 was Friday, August 15th. This represents a $2.74 annualized dividend and a dividend yield of 5.6%. Enbridge's dividend payout ratio (DPR) is presently 134.98%.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Zacks Research raised shares of Enbridge from a "hold" rating to a "strong-buy" rating in a research note on Friday, August 15th. National Bankshares reissued a "sector perform" rating on shares of Enbridge in a research report on Tuesday, August 5th. Jefferies Financial Group raised shares of Enbridge from a "hold" rating to a "buy" rating in a research report on Wednesday, July 23rd. Wall Street Zen cut shares of Enbridge from a "hold" rating to a "sell" rating in a research report on Saturday, August 30th. 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 report on Tuesday, August 12th. 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 data from MarketBeat, Enbridge has an average rating of "Moderate Buy" and an average 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.