Northwestern Mutual Wealth Management Co. Purchases 11,392 Shares of Enbridge Inc $ENB

Northwestern Mutual Wealth Management Co. grew its holdings in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 6.5% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 187,911 shares of the pipeline company’s stock after purchasing an additional 11,392 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in Enbridge were worth $10,187,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of ENB. Wedbush Securities Inc. lifted its position in shares of Enbridge by 2.4% during the 2nd quarter. Wedbush Securities Inc. now owns 36,923 shares of the pipeline company’s stock valued at $2,002,000 after buying an additional 856 shares during the last quarter. Thornburg Investment Management Inc. boosted its position in shares of Enbridge by 0.9% in the second quarter. Thornburg Investment Management Inc. now owns 3,674,988 shares of the pipeline company’s stock valued at $199,115,000 after acquiring an additional 33,954 shares during the period. Greenleaf Trust boosted its holdings in Enbridge by 6.0% in the 2nd quarter. Greenleaf Trust now owns 13,263 shares of the pipeline company’s stock valued at $719,000 after purchasing an additional 748 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Enbridge by 21.4% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 21,283 shares of the pipeline company’s stock valued at $1,154,000 after buying an additional 3,755 shares during the period. Finally, Van ECK Associates Corp grew its holdings in shares of Enbridge by 1.4% during the second quarter. Van ECK Associates Corp now owns 1,045,461 shares of the pipeline company’s stock worth $56,674,000 after purchasing an additional 14,315 shares in the last quarter. Institutional investors own 54.60% of the company’s stock.

Enbridge Trading Down 0.7%

Shares of Enbridge stock opened at $50.35 on Thursday. The company’s fifty day simple moving average is $53.36 and its 200-day simple moving average is $54.01. Enbridge Inc has a 1-year low of $45.03 and a 1-year high of $58.45. The company has a debt-to-equity ratio of 1.69, a current ratio of 0.72 and a quick ratio of 0.66. The stock has a market capitalization of $109.97 billion, a PE ratio of 26.92, a P/E/G ratio of 6.01 and a beta of 0.57.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings results on Friday, July 31st. The pipeline company reported $0.46 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.03. The business had revenue of $9.70 billion during the quarter, compared to analysts’ expectations of $8.67 billion. Enbridge had a return on equity of 11.17% and a net margin of 7.20%.During the same quarter in the prior year, the business posted $0.65 earnings per share. As a group, equities analysts anticipate that Enbridge Inc will post 2.11 earnings per share for the current year.

Enbridge Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Friday, August 14th were paid a $0.97 dividend. This represents a $3.88 dividend on an annualized basis and a yield of 7.7%. The ex-dividend date was Friday, August 14th. Enbridge’s dividend payout ratio is presently 147.06%.

Analyst Ratings Changes

ENB has been the topic of a number of research analyst reports. Wolfe Research set a $50.00 target price on Enbridge in a research note on Tuesday, August 4th. US Capital Advisors raised shares of Enbridge from a “hold” rating to a “moderate buy” rating in a research report on Thursday, August 20th. Wall Street Zen raised shares of Enbridge from a “sell” rating to a “hold” rating in a research report on Sunday, July 12th. Royal Bank Of Canada boosted their price objective on shares of Enbridge from $79.00 to $84.00 and gave the stock an “outperform” rating in a research note on Monday, August 3rd. Finally, Canadian Imperial Bank of Commerce upgraded shares of Enbridge from a “neutral” rating to a “sector outperform” rating in a report on Thursday, August 27th. Six analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $67.00.

Enbridge Company Profile

Enbridge Inc is a Calgary, Alberta–based energy infrastructure company that develops, owns and operates a diversified portfolio of energy transportation, distribution and generation assets. Its core activities include the operation of crude oil and liquids pipelines, natural gas transmission and distribution systems, and energy storage facilities. In addition to midstream transportation and storage, Enbridge has expanded into renewable power generation and energy transition projects, including wind, solar and utility-scale generation assets.

The company serves customers primarily in Canada and the United States and has interests in other international energy projects.