Steward Partners Investment Advisory LLC Grows Stock Holdings in Enbridge Inc $ENB

Key Points

• Steward Partners Investment Advisory LLC increased its stake in Enbridge Inc by 15.2% in the first quarter, owning 106,611 shares valued at approximately $4.7 million.
• Goldman Sachs Group Inc. raised its position by a staggering 137.9%, acquiring additional shares worth over $1.4 billion, indicating increasing confidence from major institutional investors.
• Enbridge recently announced a quarterly dividend increase to $0.6839 per share, reflecting a 5.8% yield, with a payout ratio of 134.98%.

Steward Partners Investment Advisory LLC grew its stake in Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB by 15.2% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 106,611 shares of the pipeline company's stock after buying an additional 14,085 shares during the quarter. Steward Partners Investment Advisory LLC's holdings in Enbridge were worth $4,724,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Wealth Enhancement Advisory Services LLC raised its holdings in Enbridge by 6.1% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 438,557 shares of the pipeline company's stock worth $19,431,000 after purchasing an additional 25,071 shares during the period. Hartline Investment Corp grew its position in shares of Enbridge by 31.3% in the first quarter. Hartline Investment Corp now owns 36,098 shares of the pipeline company's stock valued at $1,600,000 after purchasing an additional 8,610 shares in the last quarter. Wellington Management Group LLP grew its position in shares of Enbridge by 0.7% in the fourth quarter. Wellington Management Group LLP now owns 1,150,521 shares of the pipeline company's stock valued at $48,806,000 after purchasing an additional 7,890 shares in the last quarter. JBR Co Financial Management Inc purchased a new stake in shares of Enbridge in the first quarter valued at approximately $330,000. Finally, Raymond James Financial Inc. grew its position in shares of Enbridge by 0.8% in the first quarter. Raymond James Financial Inc. now owns 4,299,977 shares of the pipeline company's stock valued at $190,532,000 after purchasing an additional 35,515 shares in the last quarter. Institutional investors and hedge funds own 54.60% of the company's stock.

Enbridge Stock Up 0.0%

Enbridge stock traded up $0.0050 during midday trading on Friday, reaching $47.9450. The company's stock had a trading volume of 5,030,181 shares, compared to its average volume of 3,850,256. Enbridge Inc has a fifty-two week low of $39.25 and a fifty-two week high of $48.29. The company has a quick ratio of 0.65, a current ratio of 0.75 and a debt-to-equity ratio of 1.58. The company has a market cap of $104.54 billion, a P/E ratio of 23.62, a P/E/G ratio of 4.39 and a beta of 0.79. The business has a 50-day simple moving average of $45.69 and a 200-day simple moving average of $44.87.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last posted its quarterly earnings results 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. Enbridge had a return on equity of 10.77% and a net margin of 10.11%.The company had revenue of $7.14 billion for the quarter, compared to analysts' expectations of $10.56 billion. During the same period last year, the firm earned $0.58 earnings per share. On average, research analysts expect that Enbridge Inc will post 2.14 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 1st. Stockholders of record on Friday, August 15th will be given a dividend of $0.6839 per share. This represents a $2.74 dividend on an annualized basis and a dividend yield of 5.7%. This is an increase from Enbridge's previous quarterly dividend of $0.68. The ex-dividend date is Friday, August 15th. Enbridge's payout ratio is presently 134.98%.

Wall Street Analyst Weigh In

ENB has been the subject of several analyst reports. Wall Street Zen upgraded Enbridge from a "sell" rating to a "hold" rating in a research report on Thursday, May 22nd. Zacks Research upgraded Enbridge from a "hold" rating to a "strong-buy" rating in a research note on Friday, August 15th. National Bankshares restated a "sector perform" rating on shares of Enbridge in a research note on Tuesday, August 5th. Jefferies Financial Group upgraded Enbridge from a "hold" rating to a "buy" rating in a research note on Wednesday, July 23rd. Finally, Royal Bank Of Canada reiterated an "outperform" rating and issued a $67.00 price objective on shares of Enbridge in a research note on Monday, May 12th. One 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 stock. Based on data from MarketBeat.com, the stock presently has an average 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.