Enbridge Inc $ENB Position Increased by State of Wyoming

State of Wyoming raised its holdings in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 14.2% in the 1st quarter, Holdings Channel reports. The firm owned 7,860 shares of the pipeline company’s stock after purchasing an additional 980 shares during the quarter. State of Wyoming’s holdings in Enbridge were worth $348,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently added to or reduced their stakes in the company. Dagco Inc. bought a new stake in Enbridge during the first quarter valued at $25,000. Garde Capital Inc. bought a new stake in Enbridge during the first quarter valued at $26,000. Financial Gravity Asset Management Inc. bought a new stake in Enbridge during the first quarter valued at $28,000. Accent Capital Management LLC bought a new stake in Enbridge during the first quarter valued at $30,000. Finally, Wolff Wiese Magana LLC increased its stake in Enbridge by 91.3% during the first 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 last quarter. Institutional investors own 54.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on ENB shares. Wall Street Zen lowered shares of Enbridge from a “hold” rating to a “sell” rating in a research note on Saturday. Argus upped their price target on shares of Enbridge from $50.00 to $54.00 and gave the stock a “buy” rating in a research report on Tuesday, August 12th. BMO Capital Markets restated a “market perform” rating on shares of Enbridge in a research report on Monday, May 12th. Zacks Research upgraded shares of Enbridge from a “hold” rating to a “strong-buy” rating in a research report on Friday, August 15th. Finally, Jefferies Financial Group upgraded shares of Enbridge from a “hold” rating to a “buy” rating in a research report on Wednesday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $60.50.

Enbridge Stock Up 1.2%

Enbridge stock opened at $48.39 on Tuesday. The firm has a market capitalization of $105.51 billion, a P/E ratio of 23.84, a P/E/G ratio of 4.42 and a beta of 0.80. The company has a 50-day simple moving average of $46.00 and a 200-day simple moving average of $45.00. Enbridge Inc has a one year low of $39.30 and a one year high of $48.59. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.65 and a current ratio of 0.75.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings data 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. The business had revenue of $7.14 billion during the quarter, compared to the consensus estimate 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 prior year, the company posted $0.58 earnings per share. As a group, equities analysts expect that Enbridge Inc will post 2.14 earnings per share for the current year.

Enbridge Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 1st. Investors of record on Friday, August 15th were issued a $0.6839 dividend. The ex-dividend date of this dividend was Friday, August 15th. This is an increase from Enbridge’s previous quarterly dividend of $0.68. This represents a $2.74 annualized dividend and a yield of 5.7%. Enbridge’s dividend payout ratio is currently 134.98%.

Enbridge 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.