Johnson Financial Group LLC Makes New $260,000 Investment in Enbridge Inc (NYSE:ENB)
Johnson Financial Group LLC has made a new investment of approximately $260,000 in Enbridge Inc (NYSE:ENB), acquiring 5,876 shares in the first quarter. Other institutional investors have also increased their stakes in Enbridge, with notable increases from Wealth Enhancement Advisory Services LLC and Canada Pension Plan Investment Board. Analysts have given mixed ratings on Enbridge, with a consensus rating of "Moderate Buy" and a target price of $67.00. Enbridge recently reported earnings of $0.47 per share and announced a quarterly dividend of $0.6839, reflecting a yield of 5.8%.
Johnson Financial Group LLC acquired a new position in shares of Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 5,876 shares of the pipeline company's stock, valued at approximately $260,000.
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Other hedge funds also recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Enbridge by 6.1% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 438,557 shares of the pipeline company's stock worth $19,431,000 after purchasing an additional 25,071 shares during the period. Canada Pension Plan Investment Board increased its stake in Enbridge by 20.0% in the fourth quarter. Canada Pension Plan Investment Board now owns 6,818,919 shares of the pipeline company's stock valued at $289,044,000 after acquiring an additional 1,135,000 shares during the last quarter. Hartline Investment Corp increased its stake in Enbridge by 31.3% in the first quarter. Hartline Investment Corp now owns 36,098 shares of the pipeline company's stock valued at $1,600,000 after acquiring an additional 8,610 shares during the last quarter. Wellington Management Group LLP increased its stake in Enbridge by 0.7% in the fourth quarter. Wellington Management Group LLP now owns 1,150,521 shares of the pipeline company's stock valued at $48,806,000 after acquiring an additional 7,890 shares during the last quarter. Finally, JBR Co Financial Management Inc bought a new position in Enbridge in the first quarter valued at approximately $330,000. 54.60% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of analysts have weighed in on ENB shares. BMO Capital Markets reaffirmed a "market perform" rating on shares of Enbridge in a research note on Monday, May 12th. Wall Street Zen raised shares of Enbridge from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd. National Bankshares reaffirmed a "sector perform" rating on shares of Enbridge in a research note on Tuesday. Jefferies Financial Group raised shares of Enbridge from a "hold" rating to a "buy" rating in a research note on Wednesday, July 23rd. Finally, Royal Bank Of Canada reaffirmed an "outperform" rating and set a $67.00 target price on shares of Enbridge in a research note on Monday, May 12th. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $67.00.
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Check Out Our Latest Stock Analysis on ENB
Enbridge Price Performance
Shares of NYSE:ENB opened at $47.03 on Friday. The firm has a market cap of $102.55 billion, a PE ratio of 23.17, a price-to-earnings-growth ratio of 4.33 and a beta of 0.79. The firm's fifty day moving average is $45.48 and its 200-day moving average is $44.63. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.66 and a current ratio of 0.75. Enbridge Inc has a 52 week low of $38.44 and a 52 week high of $47.44.
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Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last issued its quarterly earnings results on Friday, August 1st. The pipeline company reported $0.47 EPS for the quarter, topping analysts' consensus estimates of $0.41 by $0.06. The company had revenue of $7.14 billion for the quarter, compared to analyst estimates of $10.56 billion. Enbridge had a net margin of 10.11% and a return on equity of 10.77%. During the same quarter in the previous year, the business earned $0.58 earnings per share. Sell-side analysts predict that Enbridge Inc will post 2.14 earnings per share for the current year.
Enbridge Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, September 1st. Investors of record on Friday, August 15th will be issued a $0.6839 dividend. The ex-dividend date is Friday, August 15th. This is a positive change from Enbridge's previous quarterly dividend of $0.68. This represents a $2.74 annualized dividend and a yield of 5.8%. Enbridge's dividend payout ratio (DPR) is presently 133.99%.
Enbridge Company Profile
(Free Report)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.
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