Enbridge Inc $ENB Shares Purchased by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. raised its stake in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 76.8% during the first quarter, HoldingsChannel reports. The institutional investor owned 177,329 shares of the pipeline company’s stock after purchasing an additional 77,038 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Enbridge were worth $9,590,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the stock. Triumph Capital Management acquired a new position in Enbridge during the third quarter worth $26,000. Turning Point Benefit Group Inc. purchased a new position in shares of Enbridge during the third quarter worth $28,000. Inspire Investing LLC acquired a new stake in shares of Enbridge in the fourth quarter valued at $29,000. Garner Asset Management Corp acquired a new stake in shares of Enbridge in the fourth quarter valued at $30,000. Finally, Imprint Wealth LLC purchased a new stake in shares of Enbridge in the 3rd quarter valued at $31,000. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Enbridge Stock Up 0.0%

Shares of NYSE ENB opened at $56.24 on Monday. The stock has a market cap of $122.84 billion, a P/E ratio of 26.41 and a beta of 0.58. The company has a current ratio of 0.81, a quick ratio of 0.73 and a debt-to-equity ratio of 1.69. Enbridge Inc has a 12-month low of $43.59 and a 12-month high of $58.45. The business’s fifty day simple moving average is $55.12 and its 200-day simple moving average is $52.18.

Enbridge (NYSE:ENB) (TSE:ENB) last released its earnings results on Friday, May 8th. The pipeline company reported $0.71 EPS for the quarter, topping the consensus estimate of $0.69 by $0.02. Enbridge had a return on equity of 11.21% and a net margin of 9.83%.The firm had revenue of $9.37 billion during the quarter, compared to analysts’ expectations of $8.49 billion. During the same period in the previous year, the firm posted $1.03 EPS. As a group, equities analysts predict that Enbridge Inc will post 2.18 EPS for the current fiscal year.

Enbridge Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Friday, May 15th were paid a $0.97 dividend. This represents a $3.88 annualized dividend and a dividend yield of 6.9%. The ex-dividend date was Friday, May 15th. Enbridge’s dividend payout ratio (DPR) is presently 133.80%.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Weiss Ratings reissued a “buy (b)” rating on shares of Enbridge in a research note on Friday, May 22nd. Royal Bank Of Canada lifted their target price on Enbridge from $76.00 to $79.00 and gave the company an “outperform” rating in a research report on Monday, May 11th. Canadian Imperial Bank of Commerce reiterated a “neutral” rating on shares of Enbridge in a research note on Monday, May 11th. Wall Street Zen cut shares of Enbridge from a “hold” rating to a “sell” rating in a research report on Saturday. Finally, Scotiabank reissued an “outperform” rating on shares of Enbridge in a research note on Monday, May 11th. Seven investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $66.50.

About Enbridge

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.