Vantage Wealth Has $19.67 Million Position in Enbridge Inc $ENB

Key Points

• Vantage Wealth reduced its stake in Enbridge Inc by 2.3%, selling 10,190 shares to hold 434,100 shares valued at approximately $19.67 million.
• Institutional investors, including Goldman Sachs which increased its holdings by 137.9%, account for 54.60% of Enbridge's total stock ownership.
• Enbridge reported earnings of $0.47 per share, surpassing expectations, and announced a quarterly dividend increase to $0.6839 per share with a yield of 5.5%.

Vantage Wealth reduced its holdings in Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB by 2.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 434,100 shares of the pipeline company's stock after selling 10,190 shares during the quarter. Enbridge accounts for 4.5% of Vantage Wealth's holdings, making the stock its 11th biggest position. Vantage Wealth's holdings in Enbridge were worth $19,673,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Vanguard Group Inc. grew its position in Enbridge by 1.7% during the first quarter. Vanguard Group Inc. now owns 93,187,025 shares of the pipeline company's stock valued at $4,124,271,000 after purchasing an additional 1,569,879 shares in the last quarter. GQG Partners LLC boosted its holdings in shares of Enbridge by 1.5% during the 1st quarter. GQG Partners LLC now owns 75,439,320 shares of the pipeline company's stock worth $3,338,405,000 after buying an additional 1,148,580 shares during the period. TD Asset Management Inc boosted its holdings in shares of Enbridge by 1.3% during 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 buying an additional 513,058 shares during the period. Goldman Sachs Group Inc. boosted its holdings in shares of Enbridge by 137.9% during 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 buying an additional 19,074,827 shares during the period. Finally, Mackenzie Financial Corp boosted its holdings in shares of Enbridge by 1.7% during the 4th quarter. Mackenzie Financial Corp now owns 18,880,985 shares of the pipeline company's stock worth $800,507,000 after buying an additional 319,435 shares during the period. Institutional investors and hedge funds own 54.60% of the company's stock.

Enbridge Stock Up 0.8%

Shares of NYSE ENB traded up $0.37 during midday trading on Friday, reaching $49.49. The company's stock had a trading volume of 3,096,103 shares, compared to its average volume of 2,820,199. The stock has a market capitalization of $107.93 billion, a price-to-earnings ratio of 24.38, a PEG ratio of 4.52 and a beta of 0.80. Enbridge Inc has a fifty-two week low of $39.73 and a fifty-two week high of $49.55. The stock has a 50 day simple moving average of $47.14 and a 200-day simple moving average of $45.65. The company has a current ratio of 0.75, a quick ratio of 0.65 and a debt-to-equity ratio of 1.58.

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

Enbridge Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 1st. Stockholders of record on Friday, August 15th were given a $0.6839 dividend. The ex-dividend date of this dividend was Friday, August 15th. 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 5.5%. Enbridge's dividend payout ratio (DPR) is presently 134.98%.

Analysts Set New Price Targets

Several equities analysts recently commented on ENB shares. Wall Street Zen cut shares of Enbridge from a "hold" rating to a "sell" rating in a research note on Sunday. National Bankshares reiterated a "sector perform" rating on shares of Enbridge in a research note on Tuesday, August 5th. Jefferies Financial Group upgraded shares of Enbridge from a "hold" rating to a "buy" rating in a research note on Wednesday, July 23rd. Argus increased their price objective on shares of Enbridge from $50.00 to $54.00 and gave the company a "buy" rating in a research note on Tuesday, August 12th. Finally, Zacks Research cut shares of Enbridge from a "strong-buy" rating to a "hold" rating in a research note on Wednesday. Six investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, Enbridge presently has an average rating of "Moderate Buy" and an average target price 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.