Assenagon Asset Management S.A. Boosts Stock Holdings in Enbridge Inc. (NYSE:ENB)

Assenagon Asset Management S.A. increased its position in shares of Enbridge Inc. (NYSE:ENBFree Report) (TSE:ENB) by 1.3% during the 3rd quarter, Holdings Channel reports. The firm owned 59,654 shares of the pipeline company’s stock after acquiring an additional 764 shares during the period. Assenagon Asset Management S.A.’s holdings in Enbridge were worth $1,988,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. SVB Wealth LLC raised its position in shares of Enbridge by 3.1% during the 1st quarter. SVB Wealth LLC now owns 9,781 shares of the pipeline company’s stock valued at $373,000 after purchasing an additional 297 shares during the period. Key Financial Inc raised its position in shares of Enbridge by 18.7% during the 2nd quarter. Key Financial Inc now owns 1,973 shares of the pipeline company’s stock valued at $73,000 after purchasing an additional 311 shares during the period. Independence Bank of Kentucky raised its position in shares of Enbridge by 25.3% during the 3rd quarter. Independence Bank of Kentucky now owns 1,681 shares of the pipeline company’s stock valued at $56,000 after purchasing an additional 339 shares during the period. First Citizens Bank & Trust Co. raised its position in shares of Enbridge by 5.1% during the 3rd quarter. First Citizens Bank & Trust Co. now owns 7,057 shares of the pipeline company’s stock valued at $234,000 after purchasing an additional 341 shares during the period. Finally, Folger Nolan Fleming Douglas Capital Management Inc. raised its position in shares of Enbridge by 1.4% during the 2nd quarter. Folger Nolan Fleming Douglas Capital Management Inc. now owns 24,324 shares of the pipeline company’s stock valued at $904,000 after purchasing an additional 342 shares during the period. 48.29% of the stock is currently owned by institutional investors.

Enbridge Stock Performance

Shares of NYSE:ENB opened at $35.30 on Friday. Enbridge Inc. has a 52 week low of $31.03 and a 52 week high of $40.98. The stock has a market capitalization of $75.03 billion, a P/E ratio of 31.80, a PEG ratio of 3.34 and a beta of 0.85. The firm has a fifty day simple moving average of $35.76 and a two-hundred day simple moving average of $34.74. The company has a quick ratio of 0.57, a current ratio of 0.67 and a debt-to-equity ratio of 1.12.

Enbridge (NYSE:ENBGet Free Report) (TSE:ENB) last issued its quarterly earnings data on Friday, November 3rd. The pipeline company reported $0.46 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.03. Enbridge had a net margin of 7.26% and a return on equity of 10.02%. The business had revenue of $7.34 billion during the quarter, compared to analysts’ expectations of $7.88 billion. On average, analysts expect that Enbridge Inc. will post 2.1 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 1st. Shareholders of record on Thursday, February 15th will be paid a $0.659 dividend. This is a boost from Enbridge’s previous quarterly dividend of $0.64. This represents a $2.64 dividend on an annualized basis and a dividend yield of 7.47%. The ex-dividend date is Wednesday, February 14th. Enbridge’s dividend payout ratio (DPR) is presently 234.23%.

Analysts Set New Price Targets

Several research firms recently weighed in on ENB. Wolfe Research cut shares of Enbridge from a “peer perform” rating to an “underperform” rating in a research note on Tuesday, October 17th. Royal Bank of Canada cut their target price on shares of Enbridge from $60.00 to $55.00 and set an “outperform” rating for the company in a research note on Monday, November 6th. Stifel Nicolaus began coverage on shares of Enbridge in a research note on Thursday, January 18th. They set a “hold” rating for the company. Barclays cut their target price on shares of Enbridge from $54.00 to $48.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 18th. Finally, Wells Fargo & Company cut shares of Enbridge from an “equal weight” rating to an “underweight” rating in a research note on Wednesday, October 25th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat, Enbridge presently has a consensus rating of “Hold” and an average price target of $55.20.

Check Out Our Latest Report on ENB

About Enbridge

(Free Report)

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.

See Also

Want to see what other hedge funds are holding ENB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Enbridge Inc. (NYSE:ENBFree Report) (TSE:ENB).

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.