AR Asset Management Inc. Purchases New Shares in Enbridge Inc $ENB

AR Asset Management Inc. purchased a new stake in Enbridge Inc (NYSE:ENB) (TSE:ENB) in the fourth quarter, Holdings Channel.com reports. The firm purchased 20,000 shares of the pipeline company’s stock, valued at approximately $957,000.

A number of other institutional investors have also made changes to their positions in ENB. Brighton Jones LLC bought a new position in shares of Enbridge in the fourth quarter valued at about $261,000. AQR Capital Management LLC raised its holdings in shares of Enbridge by 68.5% in the first quarter. AQR Capital Management LLC now owns 28,533 shares of the pipeline company’s stock valued at $1,264,000 after buying an additional 11,599 shares during the last quarter. AXA S.A. raised its holdings in shares of Enbridge by 15.5% in the second quarter. AXA S.A. now owns 113,887 shares of the pipeline company’s stock valued at $5,161,000 after buying an additional 15,259 shares during the last quarter. Diversify Advisory Services LLC raised its holdings in Enbridge by 93.1% during the 2nd quarter. Diversify Advisory Services LLC now owns 22,016 shares of the pipeline company’s stock worth $1,042,000 after purchasing an additional 10,617 shares during the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its holdings in Enbridge by 80.1% during the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 78,507 shares of the pipeline company’s stock worth $3,553,000 after purchasing an additional 34,912 shares during the last quarter. 54.60% of the stock is owned by institutional investors.

Enbridge Stock Performance

Shares of ENB stock opened at $58.07 on Tuesday. The company has a debt-to-equity ratio of 1.69, a current ratio of 0.81 and a quick ratio of 0.73. The stock has a market cap of $126.80 billion, a PE ratio of 27.26 and a beta of 0.59. The stock has a 50-day moving average of $54.30 and a 200-day moving average of $50.88. Enbridge Inc has a one year low of $43.59 and a one year high of $58.45.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings results on Friday, May 8th. The pipeline company reported $0.71 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.02. The company had revenue of $9.37 billion during the quarter, compared to analysts’ expectations of $8.49 billion. Enbridge had a return on equity of 11.21% and a net margin of 9.83%.During the same period in the prior year, the business posted $1.03 EPS. As a group, sell-side analysts expect that Enbridge Inc will post 2.18 earnings per share for the current year.

Enbridge Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 1st. Stockholders of record on Friday, May 15th will be paid a $0.97 dividend. The ex-dividend date of this dividend is Friday, May 15th. This represents a $3.88 dividend on an annualized basis and a dividend yield of 6.7%. Enbridge’s dividend payout ratio is 133.80%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on ENB shares. Raymond James Financial raised Enbridge to a “moderate buy” rating in a report on Tuesday, February 17th. JPMorgan Chase & Co. cut Enbridge from an “overweight” rating to a “neutral” rating in a report on Tuesday, January 27th. Scotiabank reissued an “outperform” rating on shares of Enbridge in a report on Monday, May 11th. Weiss Ratings reissued a “buy (b)” rating on shares of Enbridge in a report on Friday. Finally, TD Securities cut Enbridge from a “buy” rating to a “hold” rating in a report on Tuesday, February 17th. Seven equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, Enbridge presently has a consensus rating of “Moderate Buy” and an average price target of $66.50.

Enbridge Profile

Enbridge Inc is a Calgary, Alberta–based energy infrastructure company that develops, owns and operates a diversified portfolio of energy transportation, distribution and generation assets. Its core activities include the operation of crude oil and liquids pipelines, natural gas transmission and distribution systems, and energy storage facilities. In addition to midstream transportation and storage, Enbridge has expanded into renewable power generation and energy transition projects, including wind, solar and utility-scale generation assets.

The company serves customers primarily in Canada and the United States and has interests in other international energy projects.