Cwm LLC Has $2 Million Stock Position in Enbridge Inc $ENB

Cwm LLC grew its holdings in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 46.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 44,015 shares of the pipeline company’s stock after purchasing an additional 13,921 shares during the quarter. Cwm LLC’s holdings in Enbridge were worth $1,995,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Vanguard Group Inc. raised its holdings in shares of Enbridge by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 93,187,025 shares of the pipeline company’s stock valued at $4,124,271,000 after purchasing an additional 1,569,879 shares in the last quarter. GQG Partners LLC raised its holdings in shares of Enbridge by 1.5% during the 1st quarter. GQG Partners LLC now owns 75,439,320 shares of the pipeline company’s stock valued at $3,338,405,000 after purchasing an additional 1,148,580 shares in the last quarter. TD Asset Management Inc raised its holdings in shares of Enbridge by 1.3% during the 1st quarter. TD Asset Management Inc now owns 39,265,817 shares of the pipeline company’s stock valued at $1,737,602,000 after purchasing an additional 513,058 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Enbridge by 137.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 32,907,433 shares of the pipeline company’s stock valued at $1,458,128,000 after purchasing an additional 19,074,827 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in shares of Enbridge by 10.5% during the 1st quarter. JPMorgan Chase & Co. now owns 17,643,681 shares of the pipeline company’s stock valued at $781,792,000 after purchasing an additional 1,680,116 shares in the last quarter. Institutional investors own 54.60% of the company’s stock.

Enbridge Stock Performance

NYSE ENB opened at $47.07 on Monday. The company has a debt-to-equity ratio of 1.58, a current ratio of 0.75 and a quick ratio of 0.65. The firm has a market capitalization of $102.64 billion, a price-to-earnings ratio of 23.18, a P/E/G ratio of 4.32 and a beta of 0.78. The company’s fifty day moving average is $48.47 and its two-hundred day moving average is $46.37. Enbridge Inc has a 52-week low of $39.73 and a 52-week high of $50.54.

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

Enbridge Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 1st. Stockholders of record on Friday, August 15th were given a dividend of $0.6839 per share. This is an increase from Enbridge’s previous quarterly dividend of $0.68. The ex-dividend date was Friday, August 15th. This represents a $2.74 annualized dividend and a dividend yield of 5.8%. Enbridge’s dividend payout ratio (DPR) is presently 134.98%.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the stock. Wall Street Zen downgraded shares of Enbridge from a “hold” rating to a “sell” rating in a report on Sunday, September 21st. CIBC lowered shares of Enbridge from an “outperform” rating to a “neutral” rating in a research note on Thursday, October 9th. Weiss Ratings reiterated a “buy (b)” rating on shares of Enbridge in a research note on Wednesday, October 8th. Argus raised their target price on shares of Enbridge from $50.00 to $54.00 and gave the company a “buy” rating in a research note on Tuesday, August 12th. Finally, Jefferies Financial Group upgraded shares of Enbridge from a “hold” rating to a “buy” rating in a research note on Wednesday, July 23rd. Six equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $60.50.

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.