Acadian Asset Management LLC Purchases 76,842 Shares of Enbridge Inc $ENB

Acadian Asset Management LLC boosted its position in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 58.4% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 208,513 shares of the pipeline company’s stock after buying an additional 76,842 shares during the period. Acadian Asset Management LLC’s holdings in Enbridge were worth $9,443,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Dagco Inc. bought a new stake in shares of Enbridge during the 1st quarter worth approximately $25,000. Whipplewood Advisors LLC increased its stake in Enbridge by 112.4% in the second quarter. Whipplewood Advisors LLC now owns 582 shares of the pipeline company’s stock valued at $26,000 after acquiring an additional 308 shares during the last quarter. Accent Capital Management LLC acquired a new position in Enbridge during the first quarter valued at approximately $30,000. FNY Investment Advisers LLC bought a new stake in Enbridge during the second quarter worth $36,000. Finally, Private Wealth Asset Management LLC lifted its stake in Enbridge by 289.7% during the second quarter. Private Wealth Asset Management LLC now owns 834 shares of the pipeline company’s stock worth $38,000 after purchasing an additional 620 shares during the last quarter. 54.60% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently issued reports on ENB. National Bankshares reiterated a “sector perform” rating on shares of Enbridge in a research note on Monday. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Enbridge in a research note on Wednesday, November 5th. CIBC cut Enbridge from an “outperform” rating to a “neutral” rating in a research report on Thursday, October 9th. Argus boosted their target price on Enbridge from $50.00 to $54.00 and gave the stock a “buy” rating in a research note on Tuesday, August 12th. Finally, Scotiabank reissued a “sector perform” rating on shares of Enbridge in a report on Monday. Six research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat, Enbridge presently has a consensus rating of “Moderate Buy” and an average target price of $63.00.

Enbridge Stock Up 1.0%

Shares of NYSE ENB opened at $48.77 on Thursday. The company has a 50 day simple moving average of $48.28 and a 200 day simple moving average of $46.81. The company has a debt-to-equity ratio of 1.58, a current ratio of 0.75 and a quick ratio of 0.65. Enbridge Inc has a 1 year low of $39.73 and a 1 year high of $50.54. The firm has a market cap of $106.37 billion, a PE ratio of 24.03, a price-to-earnings-growth ratio of 4.31 and a beta of 0.76.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its earnings results on Friday, November 7th. The pipeline company reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.06). The business had revenue of $7 billion for the quarter, compared to the consensus estimate of $8.45 billion. Enbridge had a return on equity of 10.77% and a net margin of 10.11%.During the same period in the previous year, the firm earned $0.55 earnings per share. On average, research analysts forecast that Enbridge Inc will post 2.14 EPS for the current year.

Enbridge Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Friday, November 14th will be issued a $0.9425 dividend. The ex-dividend date is Friday, November 14th. This is a positive change from Enbridge’s previous quarterly dividend of $0.68. This represents a $3.77 dividend on an annualized basis and a yield of 7.7%. Enbridge’s dividend payout ratio (DPR) is currently 147.25%.

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.