Artisan Partners Limited Partnership Has $30.77 Million Holdings in Enbridge Inc $ENB

Artisan Partners Limited Partnership cut its stake in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 3.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 678,100 shares of the pipeline company’s stock after selling 23,400 shares during the period. Artisan Partners Limited Partnership’s holdings in Enbridge were worth $30,769,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Dagco Inc. bought a new stake in shares of Enbridge during the 1st quarter worth $25,000. Whipplewood Advisors LLC raised its stake in Enbridge by 112.4% during the second quarter. Whipplewood Advisors LLC now owns 582 shares of the pipeline company’s stock worth $26,000 after acquiring an additional 308 shares in the last quarter. Financial Gravity Companies Inc. bought a new position in shares of Enbridge in the second quarter worth about $29,000. Accent Capital Management LLC bought a new position in shares of Enbridge in the first quarter worth about $30,000. Finally, Addison Advisors LLC acquired a new stake in shares of Enbridge in the 2nd quarter valued at approximately $35,000. 54.60% of the stock is currently owned by institutional investors.

Enbridge Stock Down 0.7%

Shares of NYSE:ENB opened at $47.97 on Friday. 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 $50.54. The business’s 50 day simple moving average is $48.23 and its two-hundred day simple moving average is $46.88. The firm has a market cap of $104.64 billion, a P/E ratio of 23.63, a PEG ratio of 4.31 and a beta of 0.76.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings data on Friday, November 7th. The pipeline company reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.39 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 billion for the quarter, compared to the consensus estimate of $8.45 billion. During the same period in the prior year, the firm posted $0.55 earnings per share. As a group, research analysts forecast 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 will be paid on Monday, December 1st. Investors of record on Friday, November 14th will be issued a $0.9425 dividend. This is an increase from Enbridge’s previous quarterly dividend of $0.68. The ex-dividend date of this dividend is Friday, November 14th. This represents a $3.77 annualized dividend and a yield of 7.9%. Enbridge’s payout ratio is 147.80%.

Wall Street Analyst Weigh In

ENB has been the subject of several research reports. Argus increased their target price on Enbridge from $50.00 to $54.00 and gave the company a “buy” rating in a research report on Tuesday, August 12th. National Bankshares reiterated a “sector perform” rating on shares of Enbridge in a report on Monday, November 10th. Zacks Research downgraded shares of Enbridge from a “hold” rating to a “strong sell” rating in a research report on Tuesday, November 11th. Weiss Ratings restated a “buy (b-)” rating on shares of Enbridge in a research report on Monday. Finally, Wall Street Zen lowered shares of Enbridge from a “hold” rating to a “sell” rating in a report on Sunday, September 21st. Six equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $63.00.

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.