Intech Investment Management LLC Grows Stock Position in Enbridge Inc $ENB

Intech Investment Management LLC grew its stake in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 11.3% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 67,347 shares of the pipeline company’s stock after buying an additional 6,833 shares during the quarter. Intech Investment Management LLC’s holdings in Enbridge were worth $3,048,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of ENB. IFP Advisors Inc boosted its position in Enbridge by 1.2% in the 2nd quarter. IFP Advisors Inc now owns 18,217 shares of the pipeline company’s stock worth $826,000 after purchasing an additional 221 shares in the last quarter. New England Capital Financial Advisors LLC grew its position in Enbridge by 21.0% during the second quarter. New England Capital Financial Advisors LLC now owns 1,285 shares of the pipeline company’s stock valued at $58,000 after buying an additional 223 shares during the period. Key Client Fiduciary Advisors LLC increased its holdings in Enbridge by 1.7% in the second quarter. Key Client Fiduciary Advisors LLC now owns 14,606 shares of the pipeline company’s stock valued at $662,000 after buying an additional 242 shares in the last quarter. Sound View Wealth Advisors Group LLC increased its holdings in Enbridge by 4.8% in the first quarter. Sound View Wealth Advisors Group LLC now owns 5,304 shares of the pipeline company’s stock valued at $235,000 after buying an additional 243 shares in the last quarter. Finally, CENTRAL TRUST Co raised its position in shares of Enbridge by 0.6% in the second quarter. CENTRAL TRUST Co now owns 44,999 shares of the pipeline company’s stock worth $2,039,000 after acquiring an additional 248 shares during the period. 54.60% of the stock is currently owned by hedge funds and other institutional investors.

Enbridge Stock Up 0.8%

ENB stock opened at $48.64 on Thursday. The company has a quick ratio of 0.65, a current ratio of 0.75 and a debt-to-equity ratio of 1.58. The firm’s 50-day simple moving average is $48.26 and its 200 day simple moving average is $46.86. The stock has a market cap of $106.10 billion, a PE ratio of 23.96, a price-to-earnings-growth ratio of 4.31 and a beta of 0.76. Enbridge Inc has a fifty-two week low of $39.73 and a fifty-two week high of $50.54.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings results on Friday, November 7th. The pipeline company reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.06). The business had revenue of $7 billion for the quarter, compared to analyst estimates of $8.45 billion. Enbridge had a net margin of 10.11% and a return on equity of 10.77%. During the same period last year, the business posted $0.55 earnings per share. As a group, sell-side analysts predict that Enbridge Inc will post 2.14 EPS for the current year.

Enbridge Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Friday, November 14th will be paid a $0.9425 dividend. The ex-dividend date of this dividend is Friday, November 14th. This represents a $3.77 dividend on an annualized basis and a dividend yield of 7.8%. This is an increase from Enbridge’s previous quarterly dividend of $0.68. Enbridge’s dividend payout ratio (DPR) is currently 147.80%.

Analysts Set New Price Targets

ENB has been the topic of a number of analyst reports. Zacks Research cut Enbridge from a “hold” rating to a “strong sell” rating in a research report on Tuesday, November 11th. CIBC cut Enbridge from an “outperform” rating to a “neutral” rating in a research report on Thursday, October 9th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Enbridge in a research note on Monday. Royal Bank Of Canada lifted their price target on shares of Enbridge from $67.00 to $72.00 and gave the company an “outperform” rating in a research note on Monday, November 10th. Finally, Scotiabank restated a “sector perform” rating on shares of Enbridge in a research report on Monday, November 10th. Six investment 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’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target 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.