Tortoise Capital Advisors L.L.C. Boosts Position in Enbridge Inc $ENB

Key Points

• Tortoise Capital Advisors L.L.C. has increased its stake in Enbridge Inc by 3.1%, now holding 6,414,282 shares, which represent approximately 3.4% of its portfolio.
• Enbridge announced a quarterly dividend of $0.6839, an increase from its previous dividend of $0.68, reflecting a 5.7% dividend yield.
• Equities analysts have a consensus target price of $60.50 for Enbridge's stock, with ratings ranging from "Strong Buy" to "Hold".

Tortoise Capital Advisors L.L.C. lifted its position in shares of Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB by 3.1% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 6,414,282 shares of the pipeline company's stock after acquiring an additional 191,609 shares during the quarter. Enbridge makes up 3.4% of Tortoise Capital Advisors L.L.C.'s investment portfolio, making the stock its 12th largest position. Tortoise Capital Advisors L.L.C. owned approximately 0.29% of Enbridge worth $284,217,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Dagco Inc. purchased a new stake in Enbridge during the first quarter valued at about $25,000. Garde Capital Inc. purchased a new stake in Enbridge during the first quarter valued at about $26,000. Financial Gravity Asset Management Inc. purchased a new stake in Enbridge during the first quarter valued at about $28,000. Accent Capital Management LLC purchased a new stake in Enbridge during the first quarter valued at about $30,000. Finally, GeoWealth Management LLC lifted its holdings in Enbridge by 436.4% during the fourth quarter. GeoWealth Management LLC now owns 751 shares of the pipeline company's stock valued at $32,000 after purchasing an additional 611 shares during the last quarter. 54.60% of the stock is currently owned by institutional investors.

Enbridge Price Performance

Shares of ENB traded down $0.17 during trading hours on Tuesday, reaching $47.43. 3,285,196 shares of the company's stock traded hands, compared to its average volume of 4,014,774. The stock has a market cap of $103.43 billion, a PE ratio of 23.37, a price-to-earnings-growth ratio of 4.39 and a beta of 0.79. 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 50 day simple moving average is $45.72 and its 200-day simple moving average is $44.89. Enbridge Inc has a 12 month low of $39.26 and a 12 month 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 company had revenue of $7.14 billion for the quarter, compared to analysts' expectations of $10.56 billion. Enbridge had a return on equity of 10.77% and a net margin of 10.11%.During the same period last year, the firm posted $0.58 EPS. Equities analysts expect that Enbridge Inc will post 2.14 EPS for the current year.

Enbridge Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 1st. Shareholders of record on Friday, August 15th will be paid a $0.6839 dividend. This is an increase from Enbridge's previous quarterly dividend of $0.68. The ex-dividend date of this dividend is Friday, August 15th. This represents a $2.74 dividend on an annualized basis and a yield of 5.8%. Enbridge's payout ratio is presently 134.98%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on ENB shares. Jefferies Financial Group raised shares of Enbridge from a "hold" rating to a "buy" rating in a report on Wednesday, July 23rd. National Bankshares restated a "sector perform" rating on shares of Enbridge in a research note on Tuesday, August 5th. Zacks Research upgraded Enbridge from a "hold" rating to a "strong-buy" rating in a research note on Friday, August 15th. BMO Capital Markets restated a "market perform" rating on shares of Enbridge in a research note on Monday, May 12th. Finally, Wall Street Zen upgraded Enbridge from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd. 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 company. According to MarketBeat, the stock presently 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.