Advisors Asset Management Inc. Raises Position in Enbridge Inc $ENB

Advisors Asset Management Inc. lifted its holdings in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 9.6% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 192,011 shares of the pipeline company’s stock after purchasing an additional 16,881 shares during the quarter. Advisors Asset Management Inc.’s holdings in Enbridge were worth $8,702,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in Enbridge by 3.5% in the 2nd quarter. Vanguard Group Inc. now owns 96,404,986 shares of the pipeline company’s stock worth $4,371,580,000 after buying an additional 3,217,961 shares during the last quarter. GQG Partners LLC lifted its holdings in shares of Enbridge by 1.5% during the 1st quarter. GQG Partners LLC now owns 75,439,320 shares of the pipeline company’s stock worth $3,338,405,000 after acquiring an additional 1,148,580 shares during the period. TD Asset Management Inc boosted its position in shares of Enbridge by 1.6% in the second quarter. TD Asset Management Inc now owns 39,883,394 shares of the pipeline company’s stock worth $1,804,913,000 after acquiring an additional 617,577 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in shares of Enbridge by 137.9% in 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 acquiring an additional 19,074,827 shares during the last quarter. Finally, Legal & General Group Plc grew its holdings in Enbridge by 1.1% in the second quarter. Legal & General Group Plc now owns 18,861,475 shares of the pipeline company’s stock valued at $853,669,000 after purchasing an additional 207,243 shares during the period. 54.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have weighed in on ENB. Scotiabank reaffirmed a “sector perform” rating on shares of Enbridge in a research note on Monday, November 10th. Wall Street Zen cut shares of Enbridge from a “hold” rating to a “sell” rating in a research note on Sunday, September 21st. Cibc World Mkts lowered shares of Enbridge from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 9th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Enbridge in a research report on Monday. Finally, BMO Capital Markets reiterated a “market perform” rating on shares of Enbridge in a report on Monday, November 10th. Six investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Enbridge currently has a consensus rating of “Hold” and an average target price of $63.00.

Enbridge Stock Performance

NYSE:ENB opened at $47.54 on Wednesday. The firm has a 50-day moving average of $48.17 and a two-hundred day moving average of $46.91. The company has a debt-to-equity ratio of 1.58, a current ratio of 0.75 and a quick ratio of 0.65. The stock has a market cap of $103.70 billion, a P/E ratio of 23.42, a PEG ratio of 4.31 and a beta of 0.76. Enbridge Inc has a 1-year low of $39.73 and a 1-year high of $50.54.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its earnings results on Friday, November 7th. The pipeline company reported $0.33 earnings per share (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 business had revenue of $7 billion for the quarter, compared to analysts’ expectations of $8.45 billion. During the same period in the previous year, the firm posted $0.55 earnings per share. On average, research analysts expect that Enbridge Inc will post 2.14 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Friday, November 14th will be issued a dividend of $0.9425 per share. The ex-dividend date is Friday, November 14th. This represents a $3.77 annualized dividend and a yield of 7.9%. This is a boost from Enbridge’s previous quarterly dividend of $0.68. Enbridge’s dividend payout ratio (DPR) is presently 147.80%.

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.