American Century Companies Inc. lifted its stake in shares of Enbridge Inc. (NYSE:ENB – Free Report) (TSE:ENB) by 27.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 127,215 shares of the pipeline company’s stock after purchasing an additional 27,694 shares during the period. American Century Companies Inc.’s holdings in Enbridge were worth $4,398,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also made changes to their positions in ENB. Csenge Advisory Group lifted its holdings in Enbridge by 8.2% in the first quarter. Csenge Advisory Group now owns 8,561 shares of the pipeline company’s stock valued at $326,000 after acquiring an additional 652 shares during the last quarter. Avidian Wealth Solutions LLC lifted its stake in Enbridge by 48.2% during the first quarter. Avidian Wealth Solutions LLC now owns 11,056 shares of the pipeline company’s stock worth $422,000 after purchasing an additional 3,598 shares in the last quarter. Kovack Advisors Inc. lifted its stake in Enbridge by 7.0% during the first quarter. Kovack Advisors Inc. now owns 24,974 shares of the pipeline company’s stock worth $953,000 after purchasing an additional 1,634 shares in the last quarter. CWM LLC lifted its stake in Enbridge by 32.8% during the first quarter. CWM LLC now owns 41,067 shares of the pipeline company’s stock worth $1,567,000 after purchasing an additional 10,138 shares in the last quarter. Finally, Townsquare Capital LLC lifted its stake in Enbridge by 41.7% during the fourth quarter. Townsquare Capital LLC now owns 167,841 shares of the pipeline company’s stock worth $6,563,000 after purchasing an additional 49,364 shares in the last quarter. 48.29% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of research analysts have commented on the company. Wells Fargo & Company cut Enbridge from an “overweight” rating to an “equal weight” rating in a research note on Wednesday. Royal Bank of Canada cut their price objective on Enbridge from $65.00 to $60.00 and set an “outperform” rating on the stock in a research report on Monday, August 7th. StockNews.com began coverage on Enbridge in a research report on Thursday, August 17th. They set a “hold” rating on the stock. Finally, TD Securities cut their price objective on Enbridge from $62.00 to $58.00 and set a “buy” rating on the stock in a research report on Tuesday, August 8th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $57.67.
Enbridge Stock Performance
NYSE ENB opened at $33.21 on Thursday. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.64 and a quick ratio of 0.55. Enbridge Inc. has a 1 year low of $32.90 and a 1 year high of $43.03. The company has a market capitalization of $67.17 billion, a PE ratio of 23.72, a P/E/G ratio of 2.79 and a beta of 0.85. The company has a fifty day moving average of $36.03 and a two-hundred day moving average of $37.30.
Enbridge (NYSE:ENB – Get Free Report) (TSE:ENB) last released its quarterly earnings data on Friday, August 4th. The pipeline company reported $0.51 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.51. Enbridge had a net margin of 8.58% and a return on equity of 10.20%. The company had revenue of $7.77 billion during the quarter, compared to the consensus estimate of $7.49 billion. As a group, analysts expect that Enbridge Inc. will post 2.12 earnings per share for the current year.
Enbridge Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 1st. Shareholders of record on Tuesday, August 15th were paid a $0.67 dividend. This represents a $2.68 annualized dividend and a yield of 8.07%. The ex-dividend date of this dividend was Monday, August 14th. This is an increase from Enbridge’s previous quarterly dividend of $0.66. Enbridge’s dividend payout ratio is currently 187.86%.
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.
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