Shell Asset Management Co. Has $9.27 Million Holdings in Enbridge Inc $ENB

Shell Asset Management Co. grew its position in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 104.0% during the 2nd quarter, Holdings Channel.com reports. The firm owned 204,861 shares of the pipeline company’s stock after purchasing an additional 104,448 shares during the period. Shell Asset Management Co.’s holdings in Enbridge were worth $9,271,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the company. Dagco Inc. acquired a new position in Enbridge in the 1st quarter valued at $25,000. Garde Capital Inc. acquired a new position in shares of Enbridge in the first quarter valued at about $26,000. Financial Gravity Asset Management Inc. bought a new position in Enbridge during the first quarter worth about $28,000. Accent Capital Management LLC acquired a new stake in Enbridge in the 1st quarter worth about $30,000. Finally, Wolff Wiese Magana LLC boosted its holdings in Enbridge by 91.3% in the 1st quarter. Wolff Wiese Magana LLC now owns 765 shares of the pipeline company’s stock valued at $34,000 after purchasing an additional 365 shares during the period. 54.60% of the stock is owned by institutional investors and hedge funds.

Enbridge Price Performance

Enbridge stock opened at $49.78 on Tuesday. The stock has a 50-day moving average price of $48.16 and a two-hundred day moving average price of $46.16. Enbridge Inc has a 12 month low of $39.73 and a 12 month high of $50.54. The company has a market capitalization of $108.56 billion, a PE ratio of 24.52, a P/E/G ratio of 4.58 and a beta of 0.78. 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 released its quarterly earnings results on Friday, August 1st. The pipeline company reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.06. Enbridge had a return on equity of 10.77% and a net margin of 10.11%.The company had revenue of $7.14 billion for the quarter, compared to analysts’ expectations of $10.56 billion. During the same period in the previous year, the business posted $0.58 earnings per share. Analysts expect that Enbridge Inc will post 2.14 EPS for the current year.

Enbridge Increases Dividend

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

Analyst Upgrades and Downgrades

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

Enbridge Company 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.