Nuveen Asset Management LLC Boosts Stock Holdings in Enbridge Inc. (NYSE:ENB)

Nuveen Asset Management LLC raised its stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 3.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,951,100 shares of the pipeline company’s stock after acquiring an additional 174,927 shares during the period. Nuveen Asset Management LLC owned approximately 0.23% of Enbridge worth $210,058,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. Barclays PLC increased its stake in Enbridge by 8.3% in the 3rd quarter. Barclays PLC now owns 584,020 shares of the pipeline company’s stock worth $23,717,000 after acquiring an additional 44,675 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Enbridge by 1.1% in the third quarter. JPMorgan Chase & Co. now owns 16,142,638 shares of the pipeline company’s stock valued at $655,556,000 after purchasing an additional 176,733 shares in the last quarter. Brookstone Capital Management increased its position in Enbridge by 7.7% in the fourth quarter. Brookstone Capital Management now owns 52,550 shares of the pipeline company’s stock worth $2,230,000 after purchasing an additional 3,759 shares during the last quarter. Wedmont Private Capital raised its stake in Enbridge by 5.0% during the fourth quarter. Wedmont Private Capital now owns 6,082 shares of the pipeline company’s stock valued at $264,000 after purchasing an additional 292 shares in the last quarter. Finally, Accurate Wealth Management LLC raised its stake in Enbridge by 145.8% during the fourth quarter. Accurate Wealth Management LLC now owns 21,620 shares of the pipeline company’s stock valued at $940,000 after purchasing an additional 12,826 shares in the last quarter. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Enbridge Trading Up 0.1%

ENB opened at $44.90 on Friday. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.54 and a current ratio of 0.55. The stock’s 50 day moving average price is $44.44 and its 200-day moving average price is $43.40. Enbridge Inc. has a one year low of $34.60 and a one year high of $47.08. The stock has a market cap of $97.88 billion, a price-to-earnings ratio of 26.10, a P/E/G ratio of 3.92 and a beta of 0.84.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings data on Friday, May 9th. The pipeline company reported $0.72 EPS for the quarter, beating the consensus estimate of $0.68 by $0.04. Enbridge had a return on equity of 10.16% and a net margin of 10.04%. The company had revenue of $7.27 billion for the quarter, compared to the consensus estimate of $10.20 billion. During the same quarter in the prior year, the company posted $0.92 EPS. On average, equities analysts forecast that Enbridge Inc. will post 2.14 EPS for the current year.

Enbridge Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Sunday, June 1st. Investors of record on Thursday, May 15th will be paid a $0.679 dividend. This represents a $2.72 annualized dividend and a yield of 6.05%. The ex-dividend date is Thursday, May 15th. This is an increase from Enbridge’s previous quarterly dividend of $0.67. Enbridge’s dividend payout ratio (DPR) is currently 139.69%.

Analyst Ratings Changes

A number of research firms have recently weighed in on ENB. BMO Capital Markets restated a “market perform” rating on shares of Enbridge in a report on Monday. CIBC reissued an “outperform” rating on shares of Enbridge in a research note on Wednesday, March 5th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $67.00 price objective on shares of Enbridge in a research note on Monday. National Bankshares reissued a “sector perform” rating on shares of Enbridge in a research report on Monday. Finally, Raymond James upgraded Enbridge to a “moderate buy” rating in a research report on Wednesday, April 23rd. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $67.00.

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.