Jennison Associates LLC raised its position in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 0.8% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,951,217 shares of the pipeline company’s stock after purchasing an additional 16,413 shares during the quarter. Jennison Associates LLC owned about 0.10% of Enbridge worth $70,457,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently modified their holdings of ENB. Salient Capital Advisors LLC boosted its stake in Enbridge by 152.6% during the 1st quarter. Salient Capital Advisors LLC now owns 10,377,798 shares of the pipeline company’s stock valued at $369,715,000 after purchasing an additional 6,269,108 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp bought a new position in Enbridge during the 1st quarter valued at $225,056,000. Toronto Dominion Bank boosted its stake in Enbridge by 48.1% during the 1st quarter. Toronto Dominion Bank now owns 12,809,209 shares of the pipeline company’s stock valued at $463,864,000 after purchasing an additional 4,162,457 shares in the last quarter. Assenagon Asset Management S.A. bought a new position in Enbridge during the 1st quarter valued at $70,385,000. Finally, GQG Partners LLC bought a new position in Enbridge during the 1st quarter valued at $63,341,000. 55.68% of the stock is owned by hedge funds and other institutional investors.
ENB has been the subject of a number of research reports. Bank of America lowered Enbridge from a “buy” rating to a “neutral” rating and set a $49.00 price target for the company. in a research note on Tuesday, July 2nd. ValuEngine lowered Enbridge from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. Goldman Sachs Group initiated coverage on Enbridge in a research note on Thursday, July 18th. They set a “neutral” rating for the company. Finally, Wolfe Research lowered Enbridge from an “outperform” rating to a “peer perform” rating and set a $37.00 price target for the company. in a research note on Thursday, June 13th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the company. Enbridge currently has an average rating of “Hold” and an average price target of $43.75.
Shares of NYSE:ENB traded down $0.78 on Friday, reaching $32.61. 1,981,211 shares of the company traded hands, compared to its average volume of 3,310,223. Enbridge Inc has a fifty-two week low of $28.82 and a fifty-two week high of $38.04. The company’s 50 day moving average is $34.57 and its 200-day moving average is $36.01. The stock has a market capitalization of $67.58 billion, a PE ratio of 15.91, a P/E/G ratio of 2.62 and a beta of 0.59. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.63 and a quick ratio of 0.53.
Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings data on Friday, August 2nd. The pipeline company reported $0.50 EPS for the quarter, beating analysts’ consensus estimates of $0.42 by $0.08. Enbridge had a return on equity of 8.16% and a net margin of 9.97%. The company had revenue of $9.92 billion during the quarter. As a group, analysts expect that Enbridge Inc will post 1.9 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Sunday, September 1st. Stockholders of record on Thursday, August 15th will be given a dividend of $0.559 per share. This represents a $2.24 dividend on an annualized basis and a dividend yield of 6.86%. The ex-dividend date is Wednesday, August 14th. This is an increase from Enbridge’s previous quarterly dividend of $0.52. Enbridge’s dividend payout ratio is 107.80%.
Enbridge Company Profile
Enbridge Inc operates as an energy infrastructure company in Canada and the United States. The company operates through five segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution, Green Power and Transmission, and Energy Services. The Liquids Pipelines segment operates common carrier and contract crude oil, natural gas liquids (NGL), and refined products pipelines and terminals.
Further Reading: Why is cost of goods sold important?
Want to see what other hedge funds are holding ENB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Enbridge Inc (NYSE:ENB) (TSE:ENB).
Receive News & Ratings for Enbridge Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Enbridge and related companies with MarketBeat.com's FREE daily email newsletter.