Russell Investments Group Ltd. Grows Position in Enbridge Inc $ENB

Russell Investments Group Ltd. grew its holdings in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 3.3% in the second quarter, HoldingsChannel.com reports. The fund owned 3,053,913 shares of the pipeline company’s stock after purchasing an additional 96,591 shares during the period. Russell Investments Group Ltd.’s holdings in Enbridge were worth $138,182,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of ENB. South Plains Financial Inc. lifted its position in Enbridge by 13.2% during the second quarter. South Plains Financial Inc. now owns 1,887 shares of the pipeline company’s stock valued at $85,000 after purchasing an additional 220 shares during the last quarter. IFP Advisors Inc increased its holdings in shares of 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 buying an additional 221 shares during the last quarter. New England Capital Financial Advisors LLC raised its position in shares of Enbridge by 21.0% during the 2nd 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 in the last quarter. Key Client Fiduciary Advisors LLC raised its position in shares of Enbridge by 1.7% during the 2nd 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. Finally, Sound View Wealth Advisors Group LLC lifted its holdings in shares of Enbridge by 4.8% during the 1st quarter. Sound View Wealth Advisors Group LLC now owns 5,304 shares of the pipeline company’s stock worth $235,000 after acquiring an additional 243 shares during the last quarter. 54.60% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently commented on ENB. Weiss Ratings reissued a “buy (b-)” rating on shares of Enbridge in a research note on Monday. Argus increased their price objective on Enbridge from $50.00 to $54.00 and gave the company a “buy” rating in a research report on Tuesday, August 12th. CIBC cut Enbridge from an “outperform” rating to a “neutral” rating in a report on Thursday, October 9th. Royal Bank Of Canada boosted their target price on Enbridge from $67.00 to $72.00 and gave the stock an “outperform” rating in a research report on Monday, November 10th. Finally, Scotiabank reiterated a “sector perform” rating on shares of Enbridge in a research report on Monday, November 10th. Six research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Enbridge presently has a consensus rating of “Hold” and a consensus target price of $63.00.

Enbridge Trading Up 0.5%

NYSE ENB opened at $47.54 on Wednesday. The firm has a market cap of $103.70 billion, a PE ratio of 23.42, a price-to-earnings-growth ratio of 4.31 and a beta of 0.76. Enbridge Inc has a 1-year low of $39.73 and a 1-year high of $50.54. The stock has a 50-day moving average of $48.17 and a 200-day moving average of $46.91. 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 posted its quarterly earnings results on Friday, November 7th. The pipeline company reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.06). Enbridge had a return on equity of 10.77% and a net margin of 10.11%.The company had revenue of $7 billion for the quarter, compared to the consensus estimate of $8.45 billion. During the same quarter in the previous year, the business earned $0.55 earnings per share. As a group, sell-side analysts forecast that Enbridge Inc will post 2.14 EPS for the current year.

Enbridge Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Investors 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 is a positive change from Enbridge’s previous quarterly dividend of $0.68. This represents a $3.77 annualized dividend and a dividend yield of 7.9%. Enbridge’s payout ratio is presently 147.80%.

About Enbridge

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.