Guggenheim Capital LLC Raises Stock Holdings in Enbridge Inc. (NYSE:ENB)

Guggenheim Capital LLC boosted its holdings in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 0.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 40,679 shares of the pipeline company’s stock after purchasing an additional 341 shares during the period. Guggenheim Capital LLC’s holdings in Enbridge were worth $1,552,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Csenge Advisory Group grew its position in Enbridge by 8.2% during the first quarter. Csenge Advisory Group now owns 8,561 shares of the pipeline company’s stock valued at $326,000 after buying an additional 652 shares during the period. Avidian Wealth Solutions LLC grew its position in shares of Enbridge by 48.2% during the 1st quarter. Avidian Wealth Solutions LLC now owns 11,056 shares of the pipeline company’s stock valued at $422,000 after acquiring an additional 3,598 shares during the period. Kovack Advisors Inc. increased its stake in shares of Enbridge by 7.0% during the 1st quarter. Kovack Advisors Inc. now owns 24,974 shares of the pipeline company’s stock worth $953,000 after purchasing an additional 1,634 shares during the last quarter. CWM LLC raised its holdings in shares of Enbridge by 32.8% in the 1st quarter. CWM LLC now owns 41,067 shares of the pipeline company’s stock worth $1,567,000 after purchasing an additional 10,138 shares during the period. Finally, Townsquare Capital LLC lifted its stake in Enbridge by 41.7% in the fourth quarter. Townsquare Capital LLC now owns 167,841 shares of the pipeline company’s stock valued at $6,563,000 after purchasing an additional 49,364 shares during the last quarter. Institutional investors own 48.29% of the company’s stock.

Enbridge Stock Down 0.5 %

ENB stock opened at $35.08 on Friday. The stock has a 50-day simple moving average of $36.17 and a two-hundred day simple moving average of $37.45. Enbridge Inc. has a twelve month low of $33.96 and a twelve month high of $44.10. The firm has a market capitalization of $70.95 billion, a PE ratio of 25.06, a PEG ratio of 2.72 and a beta of 0.84. The company has a quick ratio of 0.55, a current ratio of 0.64 and a debt-to-equity ratio of 1.27.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings data on Friday, August 4th. The pipeline company reported $0.51 EPS for the quarter, meeting the consensus estimate of $0.51. Enbridge had a net margin of 8.58% and a return on equity of 10.20%. The company had revenue of $7.77 billion during the quarter, compared to analysts’ expectations of $7.49 billion. On average, equities analysts predict that Enbridge Inc. will post 2.12 EPS for the current fiscal year.

Enbridge Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Tuesday, August 15th will be given a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a dividend yield of 7.64%. The ex-dividend date is Monday, August 14th. This is an increase from Enbridge’s previous quarterly dividend of $0.66. Enbridge’s dividend payout ratio (DPR) is 187.86%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on ENB shares. Royal Bank of Canada lowered their target price on Enbridge from $65.00 to $60.00 and set an “outperform” rating on the stock in a research note on Monday, August 7th. StockNews.com started coverage on shares of Enbridge in a report on Thursday, August 17th. They set a “hold” rating on the stock. Finally, TD Securities reduced their target price on shares of Enbridge from $62.00 to $58.00 and set a “buy” rating for the company in a research note on Tuesday, August 8th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Enbridge has a consensus rating of “Hold” and a consensus price target of $57.67.

About Enbridge

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.