CX Institutional Takes Position in Enbridge Inc. (NYSE:ENB)

CX Institutional purchased a new position in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 1,923 shares of the pipeline company’s stock, valued at approximately $85,000.

A number of other large investors have also recently made changes to their positions in ENB. Vanguard Group Inc. boosted its position in shares of Enbridge by 4.1% during the fourth quarter. Vanguard Group Inc. now owns 91,617,146 shares of the pipeline company’s stock valued at $3,888,507,000 after buying an additional 3,611,421 shares during the period. GQG Partners LLC boosted its holdings in Enbridge by 2.1% during the 4th quarter. GQG Partners LLC now owns 74,290,740 shares of the pipeline company’s stock valued at $3,151,500,000 after acquiring an additional 1,495,742 shares during the period. TD Asset Management Inc. grew its position in Enbridge by 2.8% in the 4th quarter. TD Asset Management Inc. now owns 38,752,759 shares of the pipeline company’s stock valued at $1,643,935,000 after acquiring an additional 1,040,799 shares during the last quarter. Deutsche Bank AG increased its stake in Enbridge by 13.9% in the fourth quarter. Deutsche Bank AG now owns 36,336,212 shares of the pipeline company’s stock worth $1,541,745,000 after purchasing an additional 4,426,684 shares during the period. Finally, Norges Bank bought a new stake in shares of Enbridge during the fourth quarter worth $909,415,000. 54.60% of the stock is owned by hedge funds and other institutional investors.

Enbridge Trading Down 1.5%

NYSE ENB opened at $45.95 on Tuesday. The company has a fifty day moving average of $45.55 and a 200 day moving average of $44.01. The company has a market capitalization of $100.20 billion, a PE ratio of 26.72, a P/E/G ratio of 3.92 and a beta of 0.81. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.55 and a quick ratio of 0.54. Enbridge Inc. has a 1 year low of $34.60 and a 1 year high of $47.44.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings data on Friday, May 9th. The pipeline company reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.04. The business had revenue of $7.27 billion during the quarter, compared to analysts’ expectations of $10.20 billion. Enbridge had a return on equity of 10.16% and a net margin of 10.04%. During the same quarter in the previous year, the firm posted $0.92 EPS. Research analysts forecast that Enbridge Inc. will post 2.14 earnings per share for the current year.

Enbridge Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Sunday, June 1st. Stockholders of record on Thursday, May 15th were paid a dividend of $0.679 per share. This is a boost from Enbridge’s previous quarterly dividend of $0.67. The ex-dividend date was Thursday, May 15th. This represents a $2.72 dividend on an annualized basis and a dividend yield of 5.91%. Enbridge’s dividend payout ratio (DPR) is presently 139.69%.

Wall Street Analysts Forecast Growth

ENB has been the topic of a number of research analyst reports. Raymond James upgraded shares of Enbridge to a “moderate buy” rating in a report on Wednesday, April 23rd. Citigroup assumed coverage on shares of Enbridge in a research report on Friday, April 4th. They set a “buy” rating on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and set a $67.00 price target on shares of Enbridge in a research note on Monday, May 12th. Wall Street Zen raised Enbridge from a “sell” rating to a “hold” rating in a research note on Thursday, May 22nd. Finally, National Bankshares reaffirmed a “sector perform” rating on shares of Enbridge in a research report on Monday, May 12th. Six investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $67.00.

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.