MADDEN SECURITIES Corp Purchases 1,708 Shares of Enbridge Inc. (NYSE:ENB)

MADDEN SECURITIES Corp increased its holdings in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 1.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 159,409 shares of the pipeline company’s stock after purchasing an additional 1,708 shares during the period. Enbridge makes up 2.7% of MADDEN SECURITIES Corp’s investment portfolio, making the stock its 9th biggest holding. MADDEN SECURITIES Corp’s holdings in Enbridge were worth $7,063,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in ENB. Vanguard Group Inc. boosted its position in shares of Enbridge by 4.1% in the fourth quarter. Vanguard Group Inc. now owns 91,617,146 shares of the pipeline company’s stock valued at $3,888,507,000 after acquiring an additional 3,611,421 shares during the period. GQG Partners LLC raised its stake in Enbridge by 2.1% during the 4th quarter. GQG Partners LLC now owns 74,290,740 shares of the pipeline company’s stock valued at $3,151,500,000 after purchasing an additional 1,495,742 shares during the last quarter. TD Asset Management Inc. boosted its holdings in Enbridge by 2.8% in the 4th quarter. TD Asset Management Inc. now owns 38,752,759 shares of the pipeline company’s stock valued at $1,643,935,000 after purchasing an additional 1,040,799 shares during the period. Deutsche Bank AG grew its position in Enbridge by 13.9% in the 4th quarter. Deutsche Bank AG now owns 36,336,212 shares of the pipeline company’s stock worth $1,541,745,000 after purchasing an additional 4,426,684 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Enbridge during the 4th quarter worth about $909,415,000. Institutional investors own 54.60% of the company’s stock.

Analyst Upgrades and Downgrades

ENB has been the topic of a number of recent research reports. Raymond James raised Enbridge to a “moderate buy” rating in a research report on Wednesday, April 23rd. BMO Capital Markets reiterated a “market perform” rating on shares of Enbridge in a research report on Monday, May 12th. Wall Street Zen upgraded Enbridge from a “sell” rating to a “hold” rating in a research report on Thursday, May 22nd. Royal Bank of Canada restated an “outperform” rating and issued a $67.00 target price on shares of Enbridge in a research note on Monday, May 12th. Finally, Citigroup started coverage on shares of Enbridge in a research note on Friday, April 4th. They set a “buy” rating on the stock. Six equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, Enbridge has a consensus rating of “Hold” and a consensus price target of $67.00.

Enbridge Price Performance

Enbridge stock opened at $45.81 on Tuesday. The business has a 50 day simple moving average of $45.18 and a 200 day simple moving average of $43.90. Enbridge Inc. has a one year low of $34.60 and a one year high of $47.44. The company has a market capitalization of $99.86 billion, a PE ratio of 26.63, a price-to-earnings-growth ratio of 3.92 and a beta of 0.81. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.55 and a quick ratio of 0.54.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its earnings results on Friday, May 9th. The pipeline company reported $0.72 EPS for the quarter, topping the consensus estimate of $0.68 by $0.04. Enbridge had a return on equity of 10.16% and a net margin of 10.04%. The business had revenue of $7.27 billion for the quarter, compared to the consensus estimate of $10.20 billion. During the same period in the previous year, the business earned $0.92 EPS. On average, sell-side analysts forecast that Enbridge Inc. will post 2.14 EPS for the current fiscal year.

Enbridge Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Sunday, June 1st. Stockholders of record on Thursday, May 15th were paid a $0.679 dividend. The ex-dividend date was Thursday, May 15th. This is a positive change from Enbridge’s previous quarterly dividend of $0.67. This represents a $2.72 dividend on an annualized basis and a dividend yield of 5.93%. Enbridge’s dividend payout ratio (DPR) is 139.69%.

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.