Smartleaf Asset Management LLC Raises Holdings in Enbridge Inc $ENB

Key Points

• Smartleaf Asset Management LLC increased its holdings in Enbridge Inc by 656.5% in the first quarter, owning 28,552 shares worth approximately $1.27 million.
• Enbridge declared a quarterly dividend of $0.6839 per share, marking an increase from its previous dividend, with a dividend yield of 5.7%.
• Analysts forecast Enbridge to post a 2.14 EPS for the current fiscal year, with the company's stock rating averaging a "Moderate Buy" and a target price of $60.50.

Smartleaf Asset Management LLC grew its position in Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB by 656.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 28,552 shares of the pipeline company's stock after buying an additional 24,778 shares during the quarter. Smartleaf Asset Management LLC's holdings in Enbridge were worth $1,269,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in ENB. Vanguard Group Inc. raised its position in shares of Enbridge by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 93,187,025 shares of the pipeline company's stock worth $4,124,271,000 after acquiring an additional 1,569,879 shares in the last quarter. GQG Partners LLC raised its position in shares of Enbridge by 1.5% in the 1st quarter. GQG Partners LLC now owns 75,439,320 shares of the pipeline company's stock worth $3,338,405,000 after acquiring an additional 1,148,580 shares in the last quarter. TD Asset Management Inc raised its position in shares of Enbridge by 1.3% in 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 acquiring an additional 513,058 shares in the last quarter. Deutsche Bank AG raised its position in shares of Enbridge by 13.9% in the 4th quarter. Deutsche Bank AG now owns 36,336,212 shares of the pipeline company's stock worth $1,541,745,000 after acquiring an additional 4,426,684 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its position in shares of Enbridge by 137.9% in 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 acquiring an additional 19,074,827 shares in the last quarter. 54.60% of the stock is currently owned by hedge funds and other institutional investors.

Enbridge Stock Performance

Shares of ENB stock traded up $0.19 during mid-day trading on Wednesday, reaching $47.63. The stock had a trading volume of 3,359,581 shares, compared to its average volume of 4,012,475. The business's fifty day moving average is $45.75 and its 200-day moving average is $44.91. 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 has a market cap of $103.86 billion, a price-to-earnings ratio of 23.46, a PEG ratio of 4.35 and a beta of 0.79. Enbridge Inc has a 1-year low of $39.26 and a 1-year high of $48.29.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last announced its quarterly earnings data on Friday, August 1st. The pipeline company reported $0.47 earnings per share for the quarter, beating analysts' consensus estimates of $0.41 by $0.06. The business had revenue of $7.14 billion for the quarter, compared to analyst estimates of $10.56 billion. Enbridge had a return on equity of 10.77% and a net margin of 10.11%.During the same period in the prior year, the company earned $0.58 earnings per share. On average, research analysts forecast that Enbridge Inc will post 2.14 earnings per share for the current year.

Enbridge Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 1st. Stockholders of record on Friday, August 15th will be issued 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 5.7%. The ex-dividend date of this dividend is Friday, August 15th. Enbridge's dividend payout ratio is currently 134.98%.

Analysts Set New Price Targets

ENB has been the subject of several recent research reports. Wall Street Zen raised Enbridge from a "sell" rating to a "hold" rating in a research report on Thursday, May 22nd. BMO Capital Markets reissued a "market perform" rating on shares of Enbridge in a research report on Monday, May 12th. Zacks Research raised Enbridge from a "hold" rating to a "strong-buy" rating in a research report on Friday, August 15th. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $67.00 target price on shares of Enbridge in a research report on Monday, May 12th. Finally, Jefferies Financial Group raised Enbridge from a "hold" rating to a "buy" rating in a research report on Wednesday, July 23rd. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, Enbridge presently has a consensus rating of "Moderate Buy" and a consensus 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.