UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC Raises Holdings in Enbridge Inc $ENB

Key Points

• UBS Asset Management increased its stake in Enbridge Inc by 30.8% in the first quarter, owning approximately 2.87 million shares worth about $127.2 million.
• Enbridge recently declared a quarterly dividend of $0.6839, an increase from the previous $0.68, resulting in an annualized dividend yield of 5.6%.
• Analysts have upgraded Enbridge's stock ratings, with Jefferies Financial Group moving it from "hold" to "buy" and a consensus target price set at $60.50.

UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB by 30.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,870,863 shares of the pipeline company's stock after purchasing an additional 675,787 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned about 0.13% of Enbridge worth $127,208,000 as of its most recent SEC filing.

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

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. Wall Street Zen upgraded shares of Enbridge from a "sell" rating to a "hold" rating in a research report on Saturday. National Bankshares restated a "sector perform" rating on shares of Enbridge in a research report on Tuesday, August 5th. Jefferies Financial Group upgraded shares of Enbridge from a "hold" rating to a "buy" rating in a research report on Wednesday, July 23rd. Argus raised their target price on shares of Enbridge from $50.00 to $54.00 and gave the stock a "buy" rating in a research report on Tuesday, August 12th. Finally, Zacks Research upgraded shares of Enbridge from a "hold" rating to a "strong-buy" rating in a research report on Friday, August 15th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $60.50.

Enbridge Stock Up 0.6%

Shares of ENB opened at $49.11 on Friday. The firm has a market cap of $107.10 billion, a PE ratio of 24.19, a price-to-earnings-growth ratio of 4.46 and a beta of 0.80. The company's fifty day moving average is $46.65 and its two-hundred day moving average is $45.36. Enbridge Inc has a fifty-two week low of $39.73 and a fifty-two week high of $49.11. The company has a quick ratio of 0.65, a current ratio of 0.75 and a debt-to-equity ratio of 1.58.

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 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 analyst estimates of $10.56 billion. Enbridge had a net margin of 10.11% and a return on equity of 10.77%. During the same quarter last year, the business earned $0.58 EPS. Analysts forecast that Enbridge Inc will post 2.14 earnings per share for the current year.

Enbridge Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 1st. Shareholders of record on Friday, August 15th were issued a $0.6839 dividend. This is a boost from Enbridge's previous quarterly dividend of $0.68. The ex-dividend date was Friday, August 15th. This represents a $2.74 dividend on an annualized basis and a dividend yield of 5.6%. Enbridge's dividend payout ratio (DPR) is 134.98%.

Enbridge Company 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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