Enbridge Inc $ENB Shares Purchased by Intech Investment Management LLC

Intech Investment Management LLC raised its holdings in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 11.3% in the second quarter, Holdings Channel.com reports. The fund owned 67,347 shares of the pipeline company’s stock after acquiring an additional 6,833 shares during the period. Intech Investment Management LLC’s holdings in Enbridge were worth $3,048,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the business. Mutual Advisors LLC boosted its stake in shares of Enbridge by 25.3% during the 2nd quarter. Mutual Advisors LLC now owns 51,995 shares of the pipeline company’s stock worth $2,338,000 after acquiring an additional 10,488 shares in the last quarter. 111 Capital acquired a new position in shares of Enbridge in the 2nd quarter valued at $1,887,000. Loudon Investment Management LLC increased its stake in Enbridge by 40.6% in the 2nd quarter. Loudon Investment Management LLC now owns 29,801 shares of the pipeline company’s stock worth $1,351,000 after purchasing an additional 8,600 shares in the last quarter. Ritholtz Wealth Management raised its holdings in Enbridge by 37.7% during the 2nd quarter. Ritholtz Wealth Management now owns 71,834 shares of the pipeline company’s stock worth $3,256,000 after buying an additional 19,655 shares during the period. Finally, Envestnet Asset Management Inc. raised its holdings in Enbridge by 0.8% during the 2nd quarter. Envestnet Asset Management Inc. now owns 4,142,927 shares of the pipeline company’s stock worth $187,705,000 after buying an additional 32,268 shares during the period. Institutional investors own 54.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on ENB. Royal Bank Of Canada lifted their target price on shares of Enbridge from $67.00 to $72.00 and gave the stock an “outperform” rating in a research report on Monday, November 10th. Zacks Research downgraded shares of Enbridge from a “hold” rating to a “strong sell” rating in a research note on Tuesday, November 11th. CIBC lowered Enbridge from an “outperform” rating to a “neutral” rating in a report on Thursday, October 9th. BMO Capital Markets reiterated a “market perform” rating on shares of Enbridge in a report on Monday, November 10th. Finally, National Bankshares reissued a “sector perform” rating on shares of Enbridge in a research note on Monday, November 10th. Six research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $63.00.

Enbridge Stock Performance

ENB opened at $48.64 on Thursday. The business has a fifty day simple moving average of $48.26 and a 200 day simple moving average of $46.86. The company has a market capitalization 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 1 year low of $39.73 and a 1 year high of $50.54. The company has a debt-to-equity ratio of 1.58, a current ratio of 0.75 and a quick ratio of 0.65.

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

Enbridge Increases Dividend

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

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.