Smartleaf Asset Management LLC Has $1.27 Million Holdings in Enbridge Inc $ENB

Smartleaf Asset Management LLC raised its holdings in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 656.5% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 28,552 shares of the pipeline company’s stock after acquiring an additional 24,778 shares during the period. Smartleaf Asset Management LLC’s holdings in Enbridge were worth $1,269,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Dagco Inc. acquired a new stake in shares of Enbridge during the first quarter worth $25,000. Garde Capital Inc. acquired a new stake in shares of Enbridge during the first quarter worth $26,000. Financial Gravity Asset Management Inc. acquired a new stake in shares of Enbridge during the first quarter worth $28,000. Accent Capital Management LLC acquired a new stake in shares of Enbridge during the first quarter worth $30,000. Finally, GeoWealth Management LLC grew its stake in shares of Enbridge by 436.4% during the fourth quarter. GeoWealth Management LLC now owns 751 shares of the pipeline company’s stock worth $32,000 after purchasing an additional 611 shares during the period. Institutional investors own 54.60% of the company’s stock.

Enbridge Trading Up 0.0%

NYSE:ENB opened at $47.9450 on Friday. Enbridge Inc has a twelve month low of $39.25 and a twelve month high of $48.29. The company has a quick ratio of 0.65, a current ratio of 0.75 and a debt-to-equity ratio of 1.58. The business has a 50 day moving average price of $45.69 and a two-hundred day moving average price of $44.87. The company has a market cap of $104.54 billion, a P/E ratio of 23.62, a price-to-earnings-growth ratio of 4.39 and a beta of 0.79.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings results on Friday, August 1st. The pipeline company reported $0.47 earnings per share for the quarter, topping 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 firm had revenue of $7.14 billion during the quarter, compared to the consensus estimate of $10.56 billion. During the same quarter in the prior year, the firm posted $0.58 EPS. As a group, analysts expect that Enbridge Inc will post 2.14 EPS for the current fiscal year.

Enbridge Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 1st. Shareholders of record on Friday, August 15th will be 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 of this dividend is Friday, August 15th. This represents a $2.74 dividend on an annualized basis and a yield of 5.7%. Enbridge’s payout ratio is currently 134.98%.

Wall Street Analysts Forecast Growth

ENB has been the subject of a number of analyst reports. National Bankshares reaffirmed a “sector perform” rating on shares of Enbridge in a research note on Tuesday, August 5th. Zacks Research upgraded Enbridge from a “hold” rating to a “strong-buy” rating in a research report on Friday, August 15th. Wall Street Zen upgraded Enbridge from a “sell” rating to a “hold” rating in a research report on Thursday, May 22nd. Royal Bank Of Canada reiterated an “outperform” rating and issued a $67.00 price objective on shares of Enbridge in a research report on Monday, May 12th. Finally, BMO Capital Markets reiterated a “market perform” rating on shares of Enbridge in a research report on Monday, May 12th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average 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.