Vestmark Advisory Solutions Inc. Invests $540,000 in Enbridge Inc $ENB

Key Points

• Vestmark Advisory Solutions Inc. has acquired 12,176 shares of Enbridge Inc, valued at approximately $540,000, as reported in its recent 13F filing.
• Enbridge has declared a quarterly dividend of $0.6839, an increase from its previous dividend, with a dividend yield of 5.7% and a payout ratio of 134.98%.
• The stock recently traded at $48.0050, surpassing its 12-month low of $38.85, and has received a consensus rating of "Moderate Buy" from analysts.

Vestmark Advisory Solutions Inc. purchased a new stake in Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 12,176 shares of the pipeline company's stock, valued at approximately $540,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Dagco Inc. purchased a new stake in Enbridge during the 1st quarter worth approximately $25,000. Garde Capital Inc. acquired a new stake in shares of Enbridge during the first quarter worth $26,000. Financial Gravity Asset Management Inc. acquired a new position in Enbridge during the first quarter valued at $28,000. Accent Capital Management LLC acquired a new position in Enbridge in the 1st quarter worth about $30,000. Finally, GeoWealth Management LLC increased its position in Enbridge by 436.4% in the 4th quarter. GeoWealth Management LLC now owns 751 shares of the pipeline company's stock worth $32,000 after purchasing an additional 611 shares during the last quarter. 54.60% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ENB has been the subject of several recent analyst reports. National Bankshares restated a "sector perform" rating on shares of Enbridge in a research note on Tuesday, August 5th. Wall Street Zen raised Enbridge from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd. Jefferies Financial Group upgraded Enbridge from a "hold" rating to a "buy" rating in a report on Wednesday, July 23rd. Royal Bank Of Canada restated an "outperform" rating and issued a $67.00 price target on shares of Enbridge in a report on Monday, May 12th. Finally, Zacks Research raised Enbridge from a "hold" rating to a "strong-buy" rating in a research report on Friday, August 15th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $60.50.

Enbridge Trading Up 0.0%

Shares of Enbridge stock traded up $0.0060 during trading on Friday, hitting $47.9460. The stock had a trading volume of 1,591,571 shares, compared to its average volume of 3,994,989. The stock has a 50 day simple moving average of $45.66 and a 200 day simple moving average of $44.83. The company has a quick ratio of 0.65, a current ratio of 0.75 and a debt-to-equity ratio of 1.58. The company has a market capitalization of $104.55 billion, a PE ratio of 23.63, a P/E/G ratio of 4.39 and a beta of 0.79. Enbridge Inc has a 1 year low of $39.25 and a 1 year high of $48.29.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last posted its quarterly earnings results on Friday, August 1st. The pipeline company reported $0.47 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.41 by $0.06. The business had revenue of $7.14 billion during 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 period in the prior year, the firm earned $0.58 earnings per share. On average, research analysts expect that Enbridge Inc will post 2.14 EPS for the current fiscal year.

Enbridge Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 1st. Stockholders of record on Friday, August 15th will be paid 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 annualized dividend and a dividend yield of 5.7%. Enbridge's dividend payout ratio is 134.98%.

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.