Mirae Asset Global Investments Co. Ltd. Purchases 1,689 Shares of Enbridge Inc $ENB

Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 22.5% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,189 shares of the pipeline company’s stock after purchasing an additional 1,689 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Enbridge were worth $416,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Dagco Inc. bought a new position in Enbridge during the 1st quarter worth $25,000. Garde Capital Inc. bought a new position in Enbridge during the 1st quarter worth $26,000. Financial Gravity Asset Management Inc. bought a new position in Enbridge during the 1st quarter worth $28,000. Accent Capital Management LLC bought a new position in Enbridge during the 1st quarter worth $30,000. Finally, Wolff Wiese Magana LLC increased its stake in Enbridge by 91.3% during the 1st quarter. Wolff Wiese Magana LLC now owns 765 shares of the pipeline company’s stock worth $34,000 after acquiring an additional 365 shares during the period. Institutional investors own 54.60% of the company’s stock.

Enbridge Trading Down 0.7%

Shares of ENB stock opened at $47.67 on Friday. The stock’s fifty day moving average price is $48.41 and its two-hundred day moving average price is $46.25. The company has a market cap of $103.96 billion, a PE ratio of 23.48, a P/E/G ratio of 4.39 and a beta of 0.78. Enbridge Inc has a fifty-two week low of $39.73 and a fifty-two week high of $50.54. 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 (NYSE:ENB) (TSE:ENB) last issued its earnings results on Friday, August 1st. The pipeline company reported $0.47 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.06. The firm 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. Equities analysts predict that Enbridge Inc will post 2.14 EPS for the current fiscal year.

Enbridge Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 1st. Investors of record on Friday, August 15th were issued a dividend of $0.6839 per share. This is a positive change from Enbridge’s previous quarterly dividend of $0.68. The ex-dividend date of this dividend was Friday, August 15th. This represents a $2.74 annualized dividend and a dividend yield of 5.7%. Enbridge’s dividend payout ratio (DPR) is 134.98%.

Analyst Ratings Changes

ENB has been the topic of a number of recent research reports. CIBC lowered Enbridge from an “outperform” rating to a “neutral” rating in a research note on Thursday. Weiss Ratings restated a “buy (b)” rating on shares of Enbridge in a research note on Wednesday. Cibc World Mkts lowered Enbridge from a “strong-buy” rating to a “hold” rating in a research note on Thursday. Jefferies Financial Group upgraded Enbridge from a “hold” rating to a “buy” rating in a research note on Wednesday, July 23rd. Finally, Argus raised their price objective on Enbridge from $50.00 to $54.00 and gave the stock a “buy” rating in a research note on Tuesday, August 12th. Six equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $60.50.

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.