Stamos Capital Partners L.P. Raises Stock Holdings in Enbridge Inc $ENB

Stamos Capital Partners L.P. raised its stake in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 45.6% during the second quarter, HoldingsChannel reports. The institutional investor owned 80,279 shares of the pipeline company’s stock after purchasing an additional 25,126 shares during the quarter. Stamos Capital Partners L.P.’s holdings in Enbridge were worth $3,638,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Norges Bank purchased a new stake in shares of Enbridge in the 2nd quarter valued at approximately $1,113,368,000. Nuveen LLC acquired a new stake in Enbridge in the 1st quarter valued at approximately $208,490,000. Vanguard Group Inc. increased its holdings in Enbridge by 3.5% in the 2nd quarter. Vanguard Group Inc. now owns 96,404,986 shares of the pipeline company’s stock valued at $4,371,580,000 after purchasing an additional 3,217,961 shares during the last quarter. Geode Capital Management LLC raised its position in Enbridge by 20.2% in the second quarter. Geode Capital Management LLC now owns 17,785,430 shares of the pipeline company’s stock valued at $818,620,000 after purchasing an additional 2,989,992 shares during the period. Finally, Picton Mahoney Asset Management acquired a new position in Enbridge during the second quarter worth $132,105,000. 54.60% of the stock is currently owned by institutional investors and hedge funds.

Enbridge Trading Down 1.3%

Shares of Enbridge stock opened at $47.58 on Wednesday. The company has a current ratio of 0.80, a quick ratio of 0.68 and a debt-to-equity ratio of 1.64. The company has a fifty day simple moving average of $47.89 and a 200-day simple moving average of $47.12. The stock has a market cap of $103.77 billion, a price-to-earnings ratio of 26.14 and a beta of 0.68. Enbridge Inc has a 12-month low of $39.73 and a 12-month high of $50.54.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings results on Friday, November 7th. The pipeline company reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.06). The company had revenue of $7 billion during the quarter, compared to analysts’ expectations of $8.45 billion. Enbridge had a net margin of 9.20% and a return on equity of 10.51%. During the same period last year, the firm earned $0.55 earnings per share. On average, equities analysts forecast that Enbridge Inc will post 2.14 EPS for the current fiscal year.

Enbridge Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Sunday, March 1st. Investors of record on Tuesday, February 17th will be paid a dividend of $0.97 per share. The ex-dividend date is Tuesday, February 17th. This represents a $3.88 dividend on an annualized basis and a yield of 8.2%. This is a boost from Enbridge’s previous quarterly dividend of $0.94. Enbridge’s dividend payout ratio (DPR) is 147.80%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on ENB shares. Royal Bank Of Canada lifted their price objective on Enbridge from $67.00 to $72.00 and gave the company an “outperform” rating in a research note on Monday, November 10th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Enbridge in a research report on Monday. Cibc World Mkts cut shares of Enbridge from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 9th. Zacks Research lowered shares of Enbridge from a “hold” rating to a “strong sell” rating in a research note on Tuesday, November 11th. Finally, Scotiabank reiterated a “sector perform” rating on shares of Enbridge in a report on Monday, November 10th. Six investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Enbridge presently has an average rating of “Hold” and an average price target of $63.00.

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.