Enbridge Inc $ENB Stock Holdings Trimmed by Wellington Management Group LLP

Key Points

• Wellington Management Group LLP reduced its holdings in Enbridge Inc by 4.8%, selling 54,848 shares and owning approximately 1,095,673 shares valued at $48,486,000.
• Enbridge recently announced a quarterly dividend increase to $0.6839 per share, representing an annualized dividend of $2.74 and a yield of 5.7%.
• The company exceeded earnings expectations with an EPS of $0.47, but reported a revenue of $7.14 billion, which fell short of analyst predictions of $10.56 billion.

Wellington Management Group LLP lessened its holdings in shares of Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB by 4.8% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,095,673 shares of the pipeline company's stock after selling 54,848 shares during the quarter. Wellington Management Group LLP owned 0.05% of Enbridge worth $48,486,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the business. Qtron Investments LLC grew its stake in Enbridge by 29.9% during the 1st quarter. Qtron Investments LLC now owns 25,594 shares of the pipeline company's stock valued at $1,133,000 after purchasing an additional 5,894 shares in the last quarter. Aviso Financial Inc. grew its stake in Enbridge by 2.7% during the 1st quarter. Aviso Financial Inc. now owns 1,456,565 shares of the pipeline company's stock valued at $64,490,000 after purchasing an additional 38,981 shares in the last quarter. Northern Trust Corp grew its stake in Enbridge by 0.8% during the 1st quarter. Northern Trust Corp now owns 2,558,727 shares of the pipeline company's stock valued at $113,377,000 after purchasing an additional 19,973 shares in the last quarter. Brooklyn Investment Group acquired a new stake in Enbridge during the 1st quarter valued at approximately $72,000. Finally, Versor Investments LP grew its stake in Enbridge by 64.6% during the 1st quarter. Versor Investments LP now owns 29,802 shares of the pipeline company's stock valued at $1,319,000 after purchasing an additional 11,700 shares in the last quarter. Institutional investors and hedge funds own 54.60% of the company's stock.

Enbridge Stock Performance

Shares of NYSE ENB traded up $0.51 during mid-day trading on Friday, hitting $48.32. The company had a trading volume of 578,457 shares, compared to its average volume of 3,983,473. The stock has a market cap of $105.35 billion, a price-to-earnings ratio of 23.82, a PEG ratio of 4.35 and a beta of 0.79. Enbridge Inc has a 12 month low of $39.30 and a 12 month high of $48.38. The company has a debt-to-equity ratio of 1.58, a current ratio of 0.75 and a quick ratio of 0.65. The firm's 50 day simple moving average is $45.86 and its two-hundred day simple moving average is $44.95.

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 (EPS) for the quarter, topping the consensus estimate 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 return on equity of 10.77% and a net margin of 10.11%.During the same quarter last year, the business posted $0.58 EPS. As a group, equities research analysts forecast 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 will be paid on Monday, September 1st. Shareholders of record on Friday, August 15th will be paid a dividend of $0.6839 per share. This represents a $2.74 annualized dividend and a yield of 5.7%. The ex-dividend date of this dividend is Friday, August 15th. This is an increase from Enbridge's previous quarterly dividend of $0.68. Enbridge's dividend payout ratio (DPR) is presently 134.98%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Wall Street Zen upgraded Enbridge from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd. Argus increased their target price on Enbridge from $50.00 to $54.00 and gave the stock a "buy" rating in a report on Tuesday, August 12th. National Bankshares reaffirmed a "sector perform" rating on shares of Enbridge in a report on Tuesday, August 5th. BMO Capital Markets reaffirmed a "market perform" rating on shares of Enbridge in a report on Monday, May 12th. Finally, Royal Bank Of Canada reaffirmed an "outperform" rating and set a $67.00 target price on shares of Enbridge in a report on Monday, May 12th. One equities research 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 stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target 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.