Northwestern Mutual Wealth Management Co. Purchases 11,392 Shares of Enbridge Inc $ENB

Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 6.5% in the second quarter, according to its most recent filing with the SEC. The firm owned 187,911 shares of the pipeline company’s stock after acquiring an additional 11,392 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in Enbridge were worth $10,187,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of the stock. Deutsche Bank AG bought a new stake in shares of Enbridge in the 2nd quarter worth about $1,850,502,000. Norges Bank acquired a new stake in shares of Enbridge in the fourth quarter valued at approximately $1,195,559,000. Geode Capital Management LLC increased its stake in shares of Enbridge by 7.1% in the 4th quarter. Geode Capital Management LLC now owns 21,421,826 shares of the pipeline company’s stock valued at $1,045,172,000 after buying an additional 1,415,995 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its position in Enbridge by 18.4% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 20,624,547 shares of the pipeline company’s stock worth $1,117,353,000 after purchasing an additional 3,205,322 shares during the period. Finally, Legal & General Group Plc grew its position in shares of Enbridge by 4.6% during the 4th quarter. Legal & General Group Plc now owns 19,677,864 shares of the pipeline company’s stock worth $942,806,000 after buying an additional 858,323 shares during the period. 54.60% of the stock is currently owned by institutional investors.

Enbridge Trading Down 0.7%

Shares of ENB opened at $50.35 on Thursday. The company has a debt-to-equity ratio of 1.69, a quick ratio of 0.66 and a current ratio of 0.72. The firm has a market cap of $109.97 billion, a price-to-earnings ratio of 26.92, a PEG ratio of 6.01 and a beta of 0.57. Enbridge Inc has a 52-week low of $45.03 and a 52-week high of $58.45. The business’s fifty day moving average is $53.36 and its 200-day moving average is $54.01.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings results on Friday, July 31st. The pipeline company reported $0.46 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.03. The company had revenue of $9.70 billion for the quarter, compared to the consensus estimate of $8.67 billion. Enbridge had a net margin of 7.20% and a return on equity of 11.17%. During the same period last year, the company posted $0.65 EPS. Equities analysts anticipate that Enbridge Inc will post 2.11 EPS for the current fiscal year.

Enbridge Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 1st. Stockholders of record on Friday, August 14th were given a dividend of $0.97 per share. The ex-dividend date of this dividend was Friday, August 14th. This represents a $3.88 annualized dividend and a dividend yield of 7.7%. Enbridge’s dividend payout ratio (DPR) is 147.06%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Royal Bank Of Canada upped their price objective on Enbridge from $79.00 to $84.00 and gave the company an “outperform” rating in a report on Monday, August 3rd. US Capital Advisors upgraded shares of Enbridge from a “hold” rating to a “moderate buy” rating in a report on Thursday, August 20th. Wolfe Research set a $50.00 target price on Enbridge in a research note on Tuesday, August 4th. BMO Capital Markets reiterated a “market perform” rating on shares of Enbridge in a report on Monday, August 3rd. Finally, Wall Street Zen upgraded Enbridge from a “sell” rating to a “hold” rating in a research note on Sunday, July 12th. Six research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, Enbridge has a consensus rating of “Moderate Buy” and a consensus target price of $67.00.

About Enbridge

Enbridge Inc is a Calgary, Alberta–based energy infrastructure company that develops, owns and operates a diversified portfolio of energy transportation, distribution and generation assets. Its core activities include the operation of crude oil and liquids pipelines, natural gas transmission and distribution systems, and energy storage facilities. In addition to midstream transportation and storage, Enbridge has expanded into renewable power generation and energy transition projects, including wind, solar and utility-scale generation assets.

The company serves customers primarily in Canada and the United States and has interests in other international energy projects.