Shell Asset Management Co. Buys 104,448 Shares of Enbridge Inc $ENB

Key Points

• Shell Asset Management Co. increased its stake in Enbridge Inc by 104.0%, acquiring an additional 104,448 shares, bringing their total holdings to 204,861 shares valued at $9,271,000.
• Enbridge recently reported $0.47 earnings per share (EPS), exceeding analysts' estimates, but its revenue fell short, totaling $7.14 billion against expectations of $10.56 billion.
• The company raised its dividend to $0.6839 per share, reflecting a 5.5% yield, and currently has a dividend payout ratio of 134.98%.

Shell Asset Management Co. lifted its position in Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB by 104.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 204,861 shares of the pipeline company's stock after acquiring an additional 104,448 shares during the period. Shell Asset Management Co.'s holdings in Enbridge were worth $9,271,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the company. Dagco Inc. bought a new stake in shares of Enbridge in the 1st quarter valued at $25,000. Garde Capital Inc. bought a new stake in shares of Enbridge in the first quarter worth about $26,000. Financial Gravity Asset Management Inc. acquired a new stake in shares of Enbridge during the first quarter worth 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 increased its stake in 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 purchasing an additional 365 shares in the last quarter. Institutional investors own 54.60% of the company's stock.

Enbridge Stock Performance

NYSE ENB opened at $49.78 on Tuesday. The firm has a market capitalization of $108.56 billion, a P/E ratio of 24.52, a price-to-earnings-growth ratio of 4.58 and a beta of 0.78. The company has a current ratio of 0.75, a quick ratio of 0.65 and a debt-to-equity ratio of 1.58. The firm's fifty day moving average price is $48.16 and its two-hundred day moving average price is $46.16. Enbridge Inc has a 1 year low of $39.73 and a 1 year high of $50.54.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last issued its 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. 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 prior year, the firm earned $0.58 EPS. As a group, research analysts anticipate that Enbridge Inc will post 2.14 EPS for the current year.

Enbridge Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 1st. Shareholders of record on Friday, August 15th were given a dividend of $0.6839 per share. This represents a $2.74 dividend on an annualized basis and a yield of 5.5%. This is a positive change from Enbridge's previous quarterly dividend of $0.68. The ex-dividend date of this dividend was Friday, August 15th. Enbridge's dividend payout ratio (DPR) is presently 134.98%.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. National Bankshares reaffirmed a "sector perform" rating on shares of Enbridge in a research report on Tuesday, August 5th. Weiss Ratings restated a "buy (b)" rating on shares of Enbridge in a report on Saturday, September 27th. Argus increased their price objective on Enbridge from $50.00 to $54.00 and gave the stock a "buy" rating in a report on Tuesday, August 12th. Zacks Research cut Enbridge from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, September 17th. Finally, Wall Street Zen cut shares of Enbridge from a "hold" rating to a "sell" rating in a research note on Sunday, September 21st. Seven research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently 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.

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