Enbridge Inc $ENB Shares Acquired by Value Partners Investments Inc.

Value Partners Investments Inc. grew its stake in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 1.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 45,017 shares of the pipeline company’s stock after acquiring an additional 796 shares during the quarter. Value Partners Investments Inc.’s holdings in Enbridge were worth $2,038,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Goldman Sachs Group Inc. grew its position in Enbridge by 137.9% during 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 last quarter. Nuveen LLC purchased a new stake in shares of Enbridge during the first quarter valued at $208,490,000. Canada Pension Plan Investment Board grew its holdings in shares of Enbridge by 39.7% during the first quarter. Canada Pension Plan Investment Board now owns 9,525,987 shares of the pipeline company’s stock valued at $421,675,000 after buying an additional 2,707,068 shares during the last quarter. Maple Brown Abbott Ltd acquired a new position in shares of Enbridge in the 1st quarter valued at $77,976,000. Finally, JPMorgan Chase & Co. raised its stake in Enbridge by 10.5% in the 1st quarter. JPMorgan Chase & Co. now owns 17,643,681 shares of the pipeline company’s stock worth $781,792,000 after acquiring an additional 1,680,116 shares during the last quarter. 54.60% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ENB has been the topic of several research analyst reports. Argus boosted their price target on Enbridge from $50.00 to $54.00 and gave the company a “buy” rating in a research note on Tuesday, August 12th. Jefferies Financial Group upgraded Enbridge from a “hold” rating to a “buy” rating in a research report on Wednesday, July 23rd. Zacks Research raised shares of Enbridge from a “hold” rating to a “strong-buy” rating in a research report on Friday, August 15th. National Bankshares restated a “sector perform” rating on shares of Enbridge in a research note on Tuesday, August 5th. Finally, Wall Street Zen upgraded shares of Enbridge from a “sell” rating to a “hold” rating in a research note on Saturday. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $60.50.

Enbridge Trading Up 0.6%

Enbridge stock opened at $49.11 on Friday. The firm has a market cap of $107.10 billion, a PE ratio of 24.19, a P/E/G ratio of 4.46 and a beta of 0.80. Enbridge Inc has a 12 month low of $39.73 and a 12 month high of $49.11. The stock’s 50 day simple moving average is $46.65 and its two-hundred day simple moving average is $45.38. 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 (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings results on Friday, August 1st. The pipeline company reported $0.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.06. Enbridge had a net margin of 10.11% and a return on equity of 10.77%. The firm had revenue of $7.14 billion for the quarter, compared to the consensus estimate of $10.56 billion. During the same period in the prior year, the firm posted $0.58 earnings per share. Analysts anticipate that Enbridge Inc will post 2.14 earnings per share for the current year.

Enbridge Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 1st. Investors of record on Friday, August 15th were paid a $0.6839 dividend. The ex-dividend date was Friday, August 15th. This represents a $2.74 annualized dividend and a dividend yield of 5.6%. This is a boost from Enbridge’s previous quarterly dividend of $0.68. Enbridge’s dividend payout ratio (DPR) is presently 134.98%.

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.