Townsquare Capital LLC Boosts Stake in Enbridge Inc (NYSE:ENB)

Key Points

• Townsquare Capital LLC increased its stake in Enbridge Inc by 1.6%, owning 355,315 shares worth approximately $15.74 million at the end of the latest reporting period.
• Enbridge recently announced a quarterly dividend of $0.6839 per share, marking a slight increase from its previous dividend and reflecting a yield of 5.8%.
• Wall Street analysts have a generally positive outlook on Enbridge, with ratings ranging from "sell" to "buy," and a consensus target price of $67.00 per share.

Townsquare Capital LLC boosted its stake in shares of Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB by 1.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 355,315 shares of the pipeline company's stock after acquiring an additional 5,671 shares during the quarter. Townsquare Capital LLC's holdings in Enbridge were worth $15,744,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in ENB. Brighton Jones LLC bought a new stake in Enbridge during the fourth quarter worth approximately $261,000. Cerity Partners LLC increased its stake in Enbridge by 13.8% during the fourth quarter. Cerity Partners LLC now owns 217,115 shares of the pipeline company's stock worth $9,111,000 after acquiring an additional 26,301 shares during the last quarter. Invesco Ltd. increased its stake in Enbridge by 1.9% during the fourth quarter. Invesco Ltd. now owns 6,145,432 shares of the pipeline company's stock worth $260,751,000 after acquiring an additional 115,403 shares during the last quarter. Scotia Capital Inc. increased its stake in Enbridge by 1.4% during the fourth quarter. Scotia Capital Inc. now owns 14,500,982 shares of the pipeline company's stock worth $614,763,000 after acquiring an additional 193,463 shares during the last quarter. Finally, Legacy Financial Advisors Inc. increased its stake in Enbridge by 29.7% during the fourth quarter. Legacy Financial Advisors Inc. now owns 14,357 shares of the pipeline company's stock worth $609,000 after acquiring an additional 3,288 shares during the last quarter. 54.60% of the stock is owned by institutional investors.

Enbridge Trading Down 0.1%

Shares of ENB traded down $0.05 during mid-day trading on Friday, reaching $47.03. 2,387,065 shares of the company's stock traded hands, compared to its average volume of 3,980,450. The stock has a market cap of $102.55 billion, a P/E ratio of 23.17, a P/E/G ratio of 4.32 and a beta of 0.79. The stock's 50-day moving average is $45.48 and its two-hundred day moving average is $44.63. Enbridge Inc has a 12 month low of $38.44 and a 12 month high of $47.44. The company has a debt-to-equity ratio of 1.58, a current ratio of 0.75 and a quick ratio of 0.66.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last announced 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. The firm had revenue of $7.14 billion during 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 quarter in the previous year, the business earned $0.58 earnings per share. Research analysts forecast that Enbridge Inc will post 2.14 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 1st. Investors of record on Friday, August 15th will be issued a $0.6839 dividend. The ex-dividend date is Friday, August 15th. This is a positive change from Enbridge's previous quarterly dividend of $0.68. This represents a $2.74 dividend on an annualized basis and a dividend yield of 5.8%. Enbridge's dividend payout ratio (DPR) is presently 133.99%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. National Bankshares reissued a "sector perform" rating on shares of Enbridge in a research note on Tuesday. Royal Bank Of Canada reissued an "outperform" rating and set a $67.00 price objective on shares of Enbridge in a research note on Monday, May 12th. Wall Street Zen raised Enbridge from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd. Raymond James Financial raised Enbridge to a "moderate buy" rating in a research note on Wednesday, April 23rd. Finally, Jefferies Financial Group raised Enbridge from a "hold" rating to a "buy" rating in a research note on Wednesday, July 23rd. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $67.00.

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.