Intech Investment Management LLC Increases Stock Position in Enbridge Inc $ENB

Intech Investment Management LLC boosted its stake in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 1.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 60,514 shares of the pipeline company’s stock after purchasing an additional 637 shares during the quarter. Intech Investment Management LLC’s holdings in Enbridge were worth $2,678,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Capital Investment Counsel Inc raised its stake in Enbridge by 3.1% in the first quarter. Capital Investment Counsel Inc now owns 7,527 shares of the pipeline company’s stock valued at $333,000 after purchasing an additional 223 shares in the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors raised its stake in Enbridge by 0.7% in the first 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 purchasing an additional 226 shares in the last quarter. Loudon Investment Management LLC raised its stake in Enbridge by 1.1% in the first quarter. Loudon Investment Management LLC now owns 21,201 shares of the pipeline company’s stock valued at $939,000 after purchasing an additional 240 shares in the last quarter. Sound View Wealth Advisors Group LLC raised its stake in Enbridge by 4.8% in the first quarter. Sound View Wealth Advisors Group LLC now owns 5,304 shares of the pipeline company’s stock valued at $235,000 after purchasing an additional 243 shares in the last quarter. Finally, Hardin Capital Partners LLC grew its position in Enbridge by 2.7% during the first quarter. Hardin Capital Partners LLC now owns 9,553 shares of the pipeline company’s stock valued at $423,000 after acquiring an additional 252 shares during the last quarter. 54.60% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have commented on ENB shares. Argus increased their price target on shares of Enbridge from $50.00 to $54.00 and gave the company a “buy” rating in a research report on Tuesday, August 12th. Zacks Research upgraded shares of Enbridge from a “hold” rating to a “strong-buy” rating in a research report on Friday, August 15th. National Bankshares reiterated a “sector perform” rating on shares of Enbridge in a research report on Tuesday, August 5th. Jefferies Financial Group upgraded shares of Enbridge from a “hold” rating to a “buy” rating in a research report on Wednesday, July 23rd. Finally, Wall Street Zen upgraded shares of Enbridge from a “sell” rating to a “hold” rating in a research report on Saturday. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, Enbridge has an average rating of “Moderate Buy” and an average target price of $60.50.

Enbridge Stock Up 0.6%

Shares of Enbridge stock opened at $49.11 on Monday. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.65 and a current ratio of 0.75. Enbridge Inc has a 52-week low of $39.73 and a 52-week high of $49.11. The stock has a market capitalization of $107.10 billion, a price-to-earnings ratio of 24.19, a P/E/G ratio of 4.49 and a beta of 0.80. The company’s 50 day moving average price is $46.65 and its 200-day moving average price is $45.41.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings results on Friday, August 1st. The pipeline company reported $0.47 EPS for the quarter, topping 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 company had revenue of $7.14 billion during the quarter, compared to analyst estimates of $10.56 billion. During the same quarter last year, the firm posted $0.58 earnings per share. Equities research analysts forecast that Enbridge Inc will post 2.14 EPS for the current year.

Enbridge Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 1st. Investors of record on Friday, August 15th were paid a $0.6839 dividend. The ex-dividend date of this dividend was Friday, August 15th. This is a positive change from Enbridge’s previous quarterly dividend of $0.68. This represents a $2.74 dividend on an annualized basis and a yield of 5.6%. Enbridge’s payout ratio is 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.