Versor Investments LP Has $1.32 Million Stock Holdings in Enbridge Inc $ENB

Key Points

• Versor Investments LP increased its stake in Enbridge Inc by 64.6% during the first quarter, now holding 29,802 shares valued at $1,319,000.
• Enbridge reported $0.47 earnings per share for the latest quarter, exceeding estimates by $0.06, whilst achieving a revenue of $7.14 billion against an estimate of $10.56 billion.
• The company announced a quarterly dividend of $0.6839 per share, reflecting a 5.8% yield and an increase from its previous dividend payout.

Versor Investments LP boosted its position in Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB by 64.6% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 29,802 shares of the pipeline company's stock after purchasing an additional 11,700 shares during the period. Versor Investments LP's holdings in Enbridge were worth $1,319,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Dagco Inc. bought a new position in shares of Enbridge in the first quarter valued at $25,000. Garde Capital Inc. purchased a new position in shares of Enbridge during the 1st quarter valued at $26,000. Financial Gravity Asset Management Inc. bought a new stake in Enbridge in the first quarter worth $28,000. Accent Capital Management LLC bought a new stake in Enbridge in the first quarter worth $30,000. Finally, GeoWealth Management LLC boosted 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 acquiring an additional 611 shares during the period. 54.60% of the stock is currently owned by institutional investors and hedge funds.

Enbridge Stock Performance

Shares of ENB stock traded up $0.0050 during midday trading on Friday, hitting $47.9450. 4,804,843 shares of the company were exchanged, compared to its average volume of 4,015,417. The firm has a market capitalization of $104.55 billion, a P/E ratio of 23.62, a PEG ratio of 4.39 and a beta of 0.79. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.65 and a current ratio of 0.75. The firm's 50 day moving average price is $45.66 and its two-hundred day moving average price is $44.83. Enbridge Inc has a 52 week low of $39.25 and a 52 week high of $48.29.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last announced its earnings results on Friday, August 1st. The pipeline company reported $0.47 EPS for the quarter, topping the consensus estimate of $0.41 by $0.06. The business had revenue of $7.14 billion during 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 quarter in the previous year, the firm posted $0.58 EPS. As a group, equities research analysts anticipate that Enbridge Inc will post 2.14 earnings per share for the current year.

Enbridge Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 1st. Stockholders of record on Friday, August 15th will be issued a dividend of $0.6839 per share. This is a boost 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 dividend yield of 5.7%. Enbridge's payout ratio is currently 134.98%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on ENB shares. Zacks Research raised shares of Enbridge from a "hold" rating to a "strong-buy" rating in a research report on Friday, August 15th. Argus upped their price objective on shares of Enbridge from $50.00 to $54.00 and gave the stock a "buy" rating in a research note on Tuesday, August 12th. Royal Bank Of Canada reissued an "outperform" rating and set a $67.00 price target on shares of Enbridge in a research note on Monday, May 12th. National Bankshares reaffirmed a "sector perform" rating on shares of Enbridge in a research note on Tuesday, August 5th. Finally, BMO Capital Markets reaffirmed a "market perform" rating on shares of Enbridge in a research note on Monday, May 12th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $60.50.

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.