SCS Capital Management LLC Makes New Investment in Enbridge Inc $ENB

Key Points

• SCS Capital Management LLC acquired a new position in Enbridge Inc, purchasing 9,439 shares valued at approximately $418,000 in the first quarter.
• Enbridge recently increased its quarterly dividend to $0.6839 per share, which equates to an annualized dividend of $2.74 and a dividend yield of 5.6%.
• Recent analyst ratings for Enbridge show a consensus of "Moderate Buy" with a target price of $60.50, indicating generally positive sentiment among market analysts.

SCS Capital Management LLC bought a new stake in Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 9,439 shares of the pipeline company's stock, valued at approximately $418,000.

Several other institutional investors also recently made changes to their positions in ENB. Brighton Jones LLC bought a new position in Enbridge during the 4th quarter worth $261,000. Nuveen Asset Management LLC grew its position in shares of Enbridge by 3.7% during the fourth quarter. Nuveen Asset Management LLC now owns 4,951,100 shares of the pipeline company's stock worth $210,058,000 after acquiring an additional 174,927 shares during the last quarter. Quantinno Capital Management LP grew its position in shares of Enbridge by 56.5% during the fourth quarter. Quantinno Capital Management LP now owns 55,733 shares of the pipeline company's stock worth $2,365,000 after acquiring an additional 20,123 shares during the last quarter. Recurrent Investment Advisors LLC increased its holdings in shares of Enbridge by 1.3% in the 4th quarter. Recurrent Investment Advisors LLC now owns 461,102 shares of the pipeline company's stock worth $19,565,000 after acquiring an additional 5,882 shares during the period. Finally, Strive Asset Management LLC bought a new stake in Enbridge in the 4th quarter valued at about $456,000. 54.60% of the stock is owned by institutional investors.

Enbridge Price Performance

NYSE:ENB traded up $0.30 during midday trading on Friday, hitting $49.11. 2,011,439 shares of the stock were exchanged, compared to its average volume of 3,006,375. The company has a market capitalization of $107.10 billion, a price-to-earnings ratio of 24.19, a P/E/G ratio of 4.49 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 Inc has a one year low of $39.73 and a one year high of $49.11. The business has a 50-day moving average price of $46.65 and a two-hundred day moving average price of $45.38.

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

Enbridge Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 1st. Stockholders of record on Friday, August 15th were paid a $0.6839 dividend. The ex-dividend date of this dividend was Friday, August 15th. This represents a $2.74 annualized dividend and a dividend yield of 5.6%. This is an increase from Enbridge's previous quarterly dividend of $0.68. Enbridge's dividend payout ratio is presently 134.98%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on ENB. Jefferies Financial Group raised shares of Enbridge from a "hold" rating to a "buy" rating in a research note on Wednesday, July 23rd. Argus boosted their price objective on Enbridge from $50.00 to $54.00 and gave the stock a "buy" rating in a research report on Tuesday, August 12th. Wall Street Zen raised Enbridge from a "sell" rating to a "hold" rating in a report on Saturday. National Bankshares reaffirmed 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, August 15th. One 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 stock. According to data from MarketBeat.com, Enbridge has a consensus rating of "Moderate Buy" and an average price target 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.