Choreo LLC Increases Stake in Enbridge Inc $ENB

Choreo LLC lifted its holdings in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 8.1% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 30,864 shares of the pipeline company’s stock after purchasing an additional 2,309 shares during the period. Choreo LLC’s holdings in Enbridge were worth $1,399,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in ENB. Vanguard Group Inc. grew its stake in shares of Enbridge by 3.5% during the second quarter. Vanguard Group Inc. now owns 96,404,986 shares of the pipeline company’s stock valued at $4,371,580,000 after buying an additional 3,217,961 shares during the last quarter. GQG Partners LLC boosted its holdings in Enbridge by 1.5% during the 1st quarter. GQG Partners LLC now owns 75,439,320 shares of the pipeline company’s stock valued at $3,338,405,000 after acquiring an additional 1,148,580 shares during the period. TD Asset Management Inc grew its position in Enbridge by 1.6% during the 2nd 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. increased its stake in Enbridge by 137.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 32,907,433 shares of the pipeline company’s stock worth $1,458,128,000 after purchasing an additional 19,074,827 shares during the period. Finally, Legal & General Group Plc increased its stake in Enbridge by 1.1% in the 2nd quarter. Legal & General Group Plc now owns 18,861,475 shares of the pipeline company’s stock worth $853,669,000 after purchasing an additional 207,243 shares during the period. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Enbridge Trading Up 1.3%

NYSE:ENB opened at $48.65 on Friday. The company has a 50-day moving average price of $48.11 and a 200-day moving average price of $46.97. The stock has a market cap of $106.12 billion, a price-to-earnings ratio of 23.97, a P/E/G ratio of 4.31 and a beta of 0.76. The company has a current ratio of 0.75, a quick ratio of 0.65 and a debt-to-equity ratio of 1.58. Enbridge Inc has a 12 month low of $39.73 and a 12 month high of $50.54.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly 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 company had revenue of $7 billion during the quarter, compared to the consensus estimate of $8.45 billion. During the same period in the previous year, the company earned $0.55 earnings per share. Equities analysts predict that Enbridge Inc will post 2.14 EPS for the current year.

Enbridge Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Friday, November 14th will be given a $0.9425 dividend. The ex-dividend date of this dividend is Friday, November 14th. This is a positive change from Enbridge’s previous quarterly dividend of $0.68. This represents a $3.77 annualized dividend and a yield of 7.7%. Enbridge’s payout ratio is 147.80%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. BMO Capital Markets reissued a “market perform” rating on shares of Enbridge in a research note on Monday, November 10th. Zacks Research cut shares of Enbridge from a “hold” rating to a “strong sell” rating in a research report on Tuesday, November 11th. Royal Bank Of Canada boosted their price objective on shares of Enbridge from $67.00 to $72.00 and gave the company an “outperform” rating in a research report on Monday, November 10th. Wall Street Zen downgraded shares of Enbridge from a “hold” rating to a “sell” rating in a research note on Sunday, September 21st. Finally, Argus raised 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. Six investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus 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.