Allworth Financial LP Acquires 11,903 Shares of Enbridge Inc $ENB

Allworth Financial LP raised its position in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 17.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 80,521 shares of the pipeline company’s stock after purchasing an additional 11,903 shares during the period. Allworth Financial LP’s holdings in Enbridge were worth $3,649,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Goldman Sachs Group Inc. raised its stake in Enbridge by 137.9% during the first quarter. Goldman Sachs Group Inc. now owns 32,907,433 shares of the pipeline company’s stock worth $1,458,128,000 after buying an additional 19,074,827 shares during the last quarter. Nuveen LLC purchased a new stake in Enbridge in the first quarter worth $208,490,000. Canada Pension Plan Investment Board lifted its position in shares of Enbridge by 39.7% during the first quarter. Canada Pension Plan Investment Board now owns 9,525,987 shares of the pipeline company’s stock worth $421,675,000 after acquiring an additional 2,707,068 shares in the last quarter. Maple Brown Abbott Ltd bought a new position in shares of Enbridge in the first quarter worth $77,976,000. Finally, JPMorgan Chase & Co. increased its position in shares of Enbridge by 10.5% during the 1st quarter. JPMorgan Chase & Co. now owns 17,643,681 shares of the pipeline company’s stock valued at $781,792,000 after purchasing an additional 1,680,116 shares during the last quarter. Institutional investors own 54.60% of the company’s stock.

Enbridge Price Performance

Shares of ENB opened at $48.77 on Thursday. 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 stock 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. The firm has a fifty day moving average price of $48.28 and a 200 day moving average price of $46.81.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings data 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 firm had revenue of $7 billion during the quarter, compared to analysts’ expectations of $8.45 billion. Enbridge had a net margin of 10.11% and a return on equity of 10.77%. During the same quarter last year, the business earned $0.55 earnings per share. As a group, sell-side analysts anticipate that Enbridge Inc will post 2.14 EPS for the current year.

Enbridge Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Friday, November 14th will be paid a dividend of $0.9425 per share. The ex-dividend date of this dividend is Friday, November 14th. This represents a $3.77 dividend on an annualized basis and a dividend yield of 7.7%. This is a boost from Enbridge’s previous quarterly dividend of $0.68. Enbridge’s dividend payout ratio is currently 147.25%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. CIBC cut shares of Enbridge from an “outperform” rating to a “neutral” rating in a research report on Thursday, October 9th. Weiss Ratings reiterated a “buy (b)” rating on shares of Enbridge in a research report on Wednesday, November 5th. Wall Street Zen lowered Enbridge from a “hold” rating to a “sell” rating in a research note on Sunday, September 21st. Royal Bank Of Canada lifted their target price on shares of Enbridge from $67.00 to $72.00 and gave the stock an “outperform” rating in a research note on Monday. Finally, BMO Capital Markets reaffirmed a “market perform” rating on shares of Enbridge in a report on Monday. Six analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $63.00.

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.