Mirae Asset Global Investments Co. Ltd. Has $416,000 Stake in Enbridge Inc $ENB

Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 22.5% during the 2nd quarter, HoldingsChannel reports. The fund owned 9,189 shares of the pipeline company’s stock after purchasing an additional 1,689 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Enbridge were worth $416,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of ENB. Dagco Inc. acquired a new stake in shares of Enbridge during the 1st quarter valued at $25,000. Garde Capital Inc. acquired a new position in Enbridge during the 1st quarter worth about $26,000. Financial Gravity Asset Management Inc. acquired a new position in Enbridge during the 1st quarter worth about $28,000. Accent Capital Management LLC acquired a new position in Enbridge during the 1st quarter worth about $30,000. Finally, Wolff Wiese Magana LLC lifted its holdings in Enbridge by 91.3% during the 1st quarter. Wolff Wiese Magana LLC now owns 765 shares of the pipeline company’s stock worth $34,000 after buying an additional 365 shares during the period. Institutional investors and hedge funds own 54.60% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on ENB shares. Cibc World Mkts downgraded Enbridge from a “strong-buy” rating to a “hold” rating in a report on Thursday. CIBC downgraded Enbridge from an “outperform” rating to a “neutral” rating in a report on Thursday. National Bankshares reaffirmed a “sector perform” rating on shares of Enbridge in a report on Tuesday, August 5th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Enbridge in a report on Wednesday. Finally, Zacks Research downgraded Enbridge from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 17th. Six research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Enbridge presently has a consensus rating of “Hold” and a consensus price target of $60.50.

Enbridge Stock Performance

ENB stock opened at $47.67 on Friday. The stock has a 50-day moving average price of $48.41 and a 200-day moving average price of $46.25. Enbridge Inc has a 1-year low of $39.73 and a 1-year high of $50.54. The company has a current ratio of 0.75, a quick ratio of 0.65 and a debt-to-equity ratio of 1.58. The firm has a market cap of $103.96 billion, a PE ratio of 23.48, a price-to-earnings-growth ratio of 4.39 and a beta of 0.78.

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

Enbridge Increases Dividend

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

About Enbridge

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.