Enbridge Inc $ENB Shares Bought by Ameriflex Group Inc.

Ameriflex Group Inc. raised its holdings in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 53.4% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,187 shares of the pipeline company’s stock after acquiring an additional 2,501 shares during the quarter. Ameriflex Group Inc.’s holdings in Enbridge were worth $324,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in Enbridge by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 93,187,025 shares of the pipeline company’s stock valued at $4,124,271,000 after acquiring an additional 1,569,879 shares during the last quarter. GQG Partners LLC lifted its stake in Enbridge by 1.5% during the first quarter. GQG Partners LLC now owns 75,439,320 shares of the pipeline company’s stock valued at $3,338,405,000 after buying an additional 1,148,580 shares in the last quarter. TD Asset Management Inc boosted its holdings in shares of Enbridge by 1.3% in the first quarter. TD Asset Management Inc now owns 39,265,817 shares of the pipeline company’s stock worth $1,737,602,000 after buying an additional 513,058 shares during the period. Goldman Sachs Group Inc. increased 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 in the last quarter. Finally, JPMorgan Chase & Co. increased its position in shares of Enbridge by 10.5% in the first 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 in the last quarter. 54.60% of the stock is owned by institutional investors and hedge funds.

Enbridge Stock Performance

ENB stock opened at $50.11 on Friday. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.65 and a current ratio of 0.75. The stock has a market cap of $109.27 billion, a P/E ratio of 24.68, a P/E/G ratio of 4.55 and a beta of 0.78. The firm has a 50 day simple moving average of $48.06 and a 200 day simple moving average of $46.09. Enbridge Inc has a 52 week low of $39.73 and a 52 week high of $50.54.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings results on Friday, August 1st. The pipeline company reported $0.47 EPS for the quarter, topping the consensus estimate of $0.41 by $0.06. The business had revenue of $7.14 billion during the quarter, compared to analysts’ expectations of $10.56 billion. Enbridge had a net margin of 10.11% and a return on equity of 10.77%. During the same period last year, the company posted $0.58 earnings per share. Research analysts anticipate that Enbridge Inc will post 2.14 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 1st. Shareholders of record on Friday, August 15th were paid a $0.6839 dividend. This represents a $2.74 dividend on an annualized basis and a yield of 5.5%. This is a boost from Enbridge’s previous quarterly dividend of $0.68. The ex-dividend date was Friday, August 15th. Enbridge’s dividend payout ratio is presently 134.98%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on ENB shares. Zacks Research downgraded shares of Enbridge from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 17th. Jefferies Financial Group raised shares of Enbridge from a “hold” rating to a “buy” rating in a research report on Wednesday, July 23rd. Weiss Ratings reissued a “buy (b)” rating on shares of Enbridge in a research report on Saturday, September 27th. Argus lifted their target price on shares of Enbridge from $50.00 to $54.00 and gave the stock a “buy” rating in a research report on Tuesday, August 12th. Finally, Wall Street Zen downgraded shares of Enbridge from a “hold” rating to a “sell” rating in a research report on Sunday, September 21st. Seven investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, Enbridge presently has a consensus rating of “Moderate Buy” and a consensus price target of $60.50.

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.