Gateway Investment Advisers LLC Has $4.88 Million Position in Enbridge Inc. (NYSE:ENB)

Gateway Investment Advisers LLC raised its position in Enbridge Inc. (NYSE:ENBGet Rating) (TSE:ENB) by 100.8% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 115,384 shares of the pipeline company’s stock after buying an additional 57,928 shares during the quarter. Gateway Investment Advisers LLC’s holdings in Enbridge were worth $4,876,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. GQG Partners LLC raised its position in shares of Enbridge by 389.4% in the first quarter. GQG Partners LLC now owns 47,579,706 shares of the pipeline company’s stock valued at $2,191,962,000 after buying an additional 37,857,799 shares in the last quarter. Norges Bank acquired a new position in Enbridge in the 4th quarter valued at $676,148,000. Cook Street Consulting Inc. bought a new stake in shares of Enbridge during the 4th quarter valued at $348,749,000. The Manufacturers Life Insurance Company grew its holdings in shares of Enbridge by 40.9% during the 1st quarter. The Manufacturers Life Insurance Company now owns 19,961,512 shares of the pipeline company’s stock worth $920,387,000 after purchasing an additional 5,794,908 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its position in shares of Enbridge by 46.3% in the first quarter. JPMorgan Chase & Co. now owns 12,818,403 shares of the pipeline company’s stock worth $590,801,000 after purchasing an additional 4,054,557 shares during the period. Institutional investors own 49.26% of the company’s stock.

Enbridge Trading Down 0.2 %

Shares of ENB stock opened at $40.07 on Friday. Enbridge Inc. has a twelve month low of $36.21 and a twelve month high of $47.67. The stock’s fifty day simple moving average is $42.76 and its 200 day simple moving average is $43.84. The company has a quick ratio of 0.49, a current ratio of 0.58 and a debt-to-equity ratio of 1.21. The firm has a market capitalization of $81.13 billion, a P/E ratio of 21.09, a P/E/G ratio of 2.91 and a beta of 0.79.

Enbridge (NYSE:ENBGet Rating) (TSE:ENB) last released its quarterly earnings results on Friday, July 29th. The pipeline company reported $0.67 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.10. Enbridge had a return on equity of 10.46% and a net margin of 9.98%. During the same quarter in the previous year, the company earned $0.55 EPS. As a group, sell-side analysts predict that Enbridge Inc. will post 2.3 EPS for the current fiscal year.

Enbridge Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 1st. Stockholders of record on Monday, August 15th were paid a dividend of $0.668 per share. This represents a $2.67 annualized dividend and a dividend yield of 6.67%. The ex-dividend date of this dividend was Friday, August 12th. Enbridge’s payout ratio is currently 140.00%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Raymond James raised shares of Enbridge from a “market perform” rating to an “outperform” rating in a research report on Monday, September 12th. US Capital Advisors lowered shares of Enbridge from an “overweight” rating to a “hold” rating in a research report on Tuesday, July 26th. National Bank Financial boosted their price objective on shares of Enbridge from C$60.00 to C$61.00 in a research report on Tuesday, August 2nd. Finally, Industrial Alliance Securities raised Enbridge from a “hold” rating to a “buy” rating and set a C$60.00 target price on the stock in a report on Wednesday, August 3rd. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $59.75.

Enbridge Profile

(Get Rating)

Enbridge Inc 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.

Featured Articles

Institutional Ownership by Quarter for Enbridge (NYSE:ENB)

Receive News & Ratings for Enbridge Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Enbridge and related companies with MarketBeat.com's FREE daily email newsletter.