Vident Advisory LLC Has $8.32 Million Stock Position in Enbridge Inc $ENB

Key Points

• Vident Advisory LLC increased its holdings in Enbridge Inc to over $8.32 million by acquiring an additional 7,089 shares during the first quarter.
• Enbridge recently declared its quarterly dividend of $0.6839 per share, reflecting a 5.7% yield and an increase from the previous quarter's dividend.
• The company's stock has a market capitalization of $105.51 billion, a P/E ratio of 23.84, and is currently trading at $48.39 with a 52-week range from $39.30 to $48.59.

Vident Advisory LLC grew its stake in shares of Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB by 3.9% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 187,993 shares of the pipeline company's stock after acquiring an additional 7,089 shares during the quarter. Vident Advisory LLC's holdings in Enbridge were worth $8,320,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the stock. Capital Investment Counsel Inc lifted its position in shares of Enbridge by 3.1% during the 1st quarter. Capital Investment Counsel Inc now owns 7,527 shares of the pipeline company's stock valued at $333,000 after acquiring an additional 223 shares during the period. Bay Colony Advisory Group Inc d b a Bay Colony Advisors lifted its position in shares of Enbridge by 0.7% during the 1st quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 34,326 shares of the pipeline company's stock valued at $1,526,000 after acquiring an additional 226 shares during the period. Loudon Investment Management LLC lifted its position in shares of Enbridge by 1.1% during the 1st quarter. Loudon Investment Management LLC now owns 21,201 shares of the pipeline company's stock valued at $939,000 after acquiring an additional 240 shares during the period. Sound View Wealth Advisors Group LLC lifted its position in shares of Enbridge by 4.8% during the 1st quarter. Sound View Wealth Advisors Group LLC now owns 5,304 shares of the pipeline company's stock valued at $235,000 after acquiring an additional 243 shares during the period. Finally, Hardin Capital Partners LLC raised its holdings in shares of Enbridge by 2.7% during the 1st quarter. Hardin Capital Partners LLC now owns 9,553 shares of the pipeline company's stock worth $423,000 after buying an additional 252 shares in the last quarter. 54.60% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

ENB has been the subject of a number of research analyst reports. Argus boosted their price target on Enbridge from $50.00 to $54.00 and gave the stock a "buy" rating in a report on Tuesday, August 12th. BMO Capital Markets reissued a "market perform" rating on shares of Enbridge in a report on Monday, May 12th. Royal Bank Of Canada reissued an "outperform" rating and set a $67.00 price target on shares of Enbridge in a report on Monday, May 12th. Wall Street Zen cut Enbridge from a "hold" rating to a "sell" rating in a report on Saturday. Finally, National Bankshares reissued a "sector perform" rating on shares of Enbridge in a report on Tuesday, August 5th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, Enbridge has a consensus rating of "Moderate Buy" and an average price target of $60.50.

Enbridge Price Performance

ENB traded down $0.07 on Tuesday, reaching $48.27. The stock had a trading volume of 3,762,152 shares, compared to its average volume of 4,000,477. Enbridge Inc has a fifty-two week low of $39.65 and a fifty-two week high of $48.59. The firm has a 50-day moving average of $46.00 and a 200-day moving average of $45.00. The company has a current ratio of 0.75, a quick ratio of 0.65 and a debt-to-equity ratio of 1.58. The company has a market capitalization of $105.26 billion, a price-to-earnings ratio of 23.78, a price-to-earnings-growth ratio of 4.42 and a beta of 0.80.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last released its quarterly earnings results on Friday, August 1st. The pipeline company reported $0.47 EPS for the quarter, beating analysts' consensus estimates of $0.41 by $0.06. Enbridge had a return on equity of 10.77% and a net margin of 10.11%.The firm had revenue of $7.14 billion for the quarter, compared to analyst estimates of $10.56 billion. During the same quarter in the previous year, the company posted $0.58 EPS. As a group, sell-side analysts anticipate that Enbridge Inc will post 2.14 EPS 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 given 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 5.7%. Enbridge's dividend payout ratio is presently 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.