Enbridge Inc $ENB Shares Bought by American Century Companies Inc.

American Century Companies Inc. raised its stake in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 5.9% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 245,364 shares of the pipeline company’s stock after buying an additional 13,678 shares during the period. American Century Companies Inc.’s holdings in Enbridge were worth $11,126,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of ENB. Dagco Inc. acquired a new position in Enbridge in the first quarter valued at approximately $25,000. Whipplewood Advisors LLC increased its holdings in shares of Enbridge by 112.4% during the 2nd quarter. Whipplewood Advisors LLC now owns 582 shares of the pipeline company’s stock valued at $26,000 after purchasing an additional 308 shares in the last quarter. Financial Gravity Companies Inc. purchased a new position in shares of Enbridge during the 2nd quarter valued at approximately $29,000. Addison Advisors LLC acquired a new stake in Enbridge during the second quarter valued at $35,000. Finally, FNY Investment Advisers LLC purchased a new position in Enbridge in the second quarter valued at $36,000. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Enbridge Trading Up 0.9%

Shares of Enbridge stock opened at $48.18 on Friday. The company has a debt-to-equity ratio of 1.64, a current ratio of 0.80 and a quick ratio of 0.68. The stock’s 50 day simple moving average is $48.00 and its 200-day simple moving average is $47.05. The stock has a market cap of $105.09 billion, a P/E ratio of 26.47 and a beta of 0.68. Enbridge Inc has a 1-year low of $39.73 and a 1-year high of $50.54.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its earnings results on Friday, November 7th. The pipeline company reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.06). Enbridge had a net margin of 9.20% and a return on equity of 10.51%. The company had revenue of $7 billion during the quarter, compared to analysts’ expectations of $8.45 billion. During the same quarter in the previous year, the company earned $0.55 earnings per share. Analysts predict that Enbridge Inc will post 2.14 EPS for the current fiscal year.

Enbridge Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Sunday, March 1st. Shareholders of record on Tuesday, February 17th will be paid a dividend of $0.97 per share. This represents a $3.88 dividend on an annualized basis and a yield of 8.1%. This is a boost from Enbridge’s previous quarterly dividend of $0.94. The ex-dividend date of this dividend is Tuesday, February 17th. Enbridge’s payout ratio is presently 147.80%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. CIBC lowered shares of Enbridge from an “outperform” rating to a “neutral” rating in a research note on Thursday, October 9th. Royal Bank Of Canada increased their price target on Enbridge from $67.00 to $72.00 and gave the stock an “outperform” rating in a research report on Monday, November 10th. Cibc World Mkts cut Enbridge from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 9th. Wall Street Zen downgraded Enbridge from a “hold” rating to a “sell” rating in a research note on Sunday, September 21st. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Enbridge in a research note on Monday. Six 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 company. According to MarketBeat.com, Enbridge currently has a consensus rating of “Hold” and an average target price of $63.00.

Enbridge 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.