Clearbridge Investments LLC increased its position in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 100,060.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,813,542 shares of the pipeline company’s stock after buying an additional 7,805,741 shares during the period. Clearbridge Investments LLC owned approximately 0.48% of Enbridge worth $326,919,000 at the end of the most recent quarter.
A number of other hedge funds have also recently made changes to their positions in ENB. Bank of America Corp DE increased its position in Enbridge by 1,072.3% in the first quarter. Bank of America Corp DE now owns 30,748,683 shares of the pipeline company’s stock worth $1,286,524,000 after buying an additional 28,125,698 shares during the period. Vanguard Group Inc. increased its position in Enbridge by 82.9% in the first quarter. Vanguard Group Inc. now owns 38,983,086 shares of the pipeline company’s stock worth $1,631,051,000 after buying an additional 17,671,076 shares during the period. Bank of Montreal Can increased its position in Enbridge by 72.4% in the first quarter. Bank of Montreal Can now owns 38,965,561 shares of the pipeline company’s stock worth $1,630,318,000 after buying an additional 16,369,985 shares during the period. State Street Corp bought a new position in Enbridge during the first quarter worth $478,509,000. Finally, TD Asset Management Inc. boosted its stake in shares of Enbridge by 28.2% in the first quarter. TD Asset Management Inc. now owns 41,491,668 shares of the pipeline company’s stock worth $1,733,219,000 after buying an additional 9,123,400 shares in the last quarter. 63.83% of the stock is currently owned by institutional investors.
Enbridge Inc (NYSE ENB) traded up 0.42% on Friday, reaching $39.58. 1,815,519 shares of the company traded hands. The stock has a 50-day moving average price of $40.65 and a 200-day moving average price of $41.00. The firm has a market cap of $65.14 billion, a P/E ratio of 32.05 and a beta of 0.62. Enbridge Inc has a 52-week low of $37.37 and a 52-week high of $45.77.
Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings data on Thursday, August 3rd. The pipeline company reported $0.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by $0.05. Enbridge had a return on equity of 6.04% and a net margin of 5.28%. The company had revenue of $8.26 billion for the quarter, compared to analysts’ expectations of $8.81 billion. During the same quarter last year, the business posted $0.50 EPS. Analysts anticipate that Enbridge Inc will post $1.57 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Tuesday, August 15th will be issued a dividend of $0.489 per share. This represents a $1.96 dividend on an annualized basis and a yield of 4.90%. The ex-dividend date of this dividend is Friday, August 11th. This is an increase from Enbridge’s previous quarterly dividend of $0.33. Enbridge’s dividend payout ratio (DPR) is 173.79%.
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A number of equities research analysts recently issued reports on ENB shares. Zacks Investment Research cut shares of Enbridge from a “hold” rating to a “strong sell” rating in a report on Monday, April 24th. Morgan Stanley started coverage on shares of Enbridge in a report on Tuesday, May 2nd. They issued an “equal weight” rating and a $45.00 price objective for the company. Wolfe Research started coverage on shares of Enbridge in a report on Friday, May 12th. They set a “market perform” rating and a $43.00 price target for the company. J P Morgan Chase & Co restated a “neutral” rating on shares of Enbridge in a report on Friday, June 23rd. Finally, BidaskClub upgraded shares of Enbridge from a “strong sell” rating to a “sell” rating in a report on Saturday, June 24th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $54.00.
Enbridge Company Profile
Enbridge Inc is a Canada-based energy transportation and distribution company. The Company is engaged in delivering energy. It operates through five segments: Liquids Pipelines, Gas Distribution, Gas Pipelines and Processing, Green Power and Transmission, and Energy Services. Liquids Pipelines consists of common carrier and contract crude oil, natural gas liquids (NGL), and refined products pipelines and terminals, including Canadian Mainline, Lakehead Pipeline System, Mid-Continent and Gulf Coast and Regional Oil Sands System.
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