Qtron Investments LLC Boosts Holdings in Enbridge Inc $ENB

Qtron Investments LLC lifted its position in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 29.9% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 25,594 shares of the pipeline company’s stock after purchasing an additional 5,894 shares during the quarter. Qtron Investments LLC’s holdings in Enbridge were worth $1,133,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the company. Capital Investment Counsel Inc grew its holdings in shares of Enbridge by 3.1% during the 1st quarter. Capital Investment Counsel Inc now owns 7,527 shares of the pipeline company’s stock worth $333,000 after purchasing an additional 223 shares during the period. Bay Colony Advisory Group Inc d b a Bay Colony Advisors boosted its holdings in Enbridge by 0.7% in the 1st quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 34,326 shares of the pipeline company’s stock worth $1,526,000 after acquiring an additional 226 shares during the period. Loudon Investment Management LLC boosted its holdings in Enbridge by 1.1% in the 1st quarter. Loudon Investment Management LLC now owns 21,201 shares of the pipeline company’s stock worth $939,000 after acquiring an additional 240 shares during the period. Sound View Wealth Advisors Group LLC boosted its holdings in Enbridge by 4.8% in the 1st quarter. Sound View Wealth Advisors Group LLC now owns 5,304 shares of the pipeline company’s stock worth $235,000 after acquiring an additional 243 shares during the period. Finally, Hardin Capital Partners LLC boosted its holdings in Enbridge by 2.7% in the 1st quarter. Hardin Capital Partners LLC now owns 9,553 shares of the pipeline company’s stock worth $423,000 after acquiring an additional 252 shares during the period. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Analyst Upgrades and Downgrades

ENB has been the subject of several research analyst reports. Wall Street Zen upgraded Enbridge from a “sell” rating to a “hold” rating in a research note on Thursday, May 22nd. Jefferies Financial Group upgraded Enbridge from a “hold” rating to a “buy” rating in a research note on Wednesday, July 23rd. Royal Bank Of Canada reiterated an “outperform” rating and set a $67.00 target price on shares of Enbridge in a research note on Monday, May 12th. Raymond James Financial upgraded Enbridge to a “moderate buy” rating in a research note on Wednesday, April 23rd. Finally, National Bankshares restated a “sector perform” rating on shares of Enbridge in a research note on Tuesday, August 5th. Five investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $60.50.

Enbridge Stock Performance

ENB stock opened at $47.02 on Monday. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.65 and a current ratio of 0.75. The stock has a market capitalization of $102.53 billion, a price-to-earnings ratio of 23.16, a PEG ratio of 4.30 and a beta of 0.79. Enbridge Inc has a 1 year low of $38.49 and a 1 year high of $48.21. The stock’s fifty day moving average is $45.55 and its two-hundred day moving average is $44.73.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its earnings results on Friday, August 1st. The pipeline company reported $0.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.06. The company had revenue of $7.14 billion for the quarter, compared to analysts’ expectations of $10.56 billion. Enbridge had a return on equity of 10.77% and a net margin of 10.11%. During the same period last year, the business posted $0.58 earnings per share. On average, research analysts predict that Enbridge Inc will post 2.14 EPS for the current year.

Enbridge Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 1st. Shareholders of record on Friday, August 15th will be paid 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 dividend on an annualized basis and a yield of 5.8%. Enbridge’s dividend payout ratio (DPR) is 134.98%.

About Enbridge

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.