Ted Buchan & Co Sells 564 Shares of Enbridge Inc (NYSE:ENB)

Ted Buchan & Co lessened its position in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 1.1% during the 1st quarter, HoldingsChannel.com reports. The fund owned 52,398 shares of the pipeline company’s stock after selling 564 shares during the period. Enbridge accounts for about 1.1% of Ted Buchan & Co’s investment portfolio, making the stock its 26th largest holding. Ted Buchan & Co’s holdings in Enbridge were worth $2,319,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently bought and sold shares of ENB. Dagco Inc. bought a new position in shares of Enbridge during the 1st quarter worth about $25,000. Garde Capital Inc. bought a new position in shares of Enbridge during the 1st quarter worth about $26,000. Financial Gravity Asset Management Inc. bought a new position in shares of Enbridge during the 1st quarter worth about $28,000. Accent Capital Management LLC bought a new position in shares of Enbridge during the 1st quarter worth about $30,000. Finally, GeoWealth Management LLC increased its holdings in shares of Enbridge by 436.4% during the 4th 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.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on ENB. BMO Capital Markets restated a “market perform” rating on shares of Enbridge in a report on Monday, May 12th. Raymond James Financial upgraded shares of Enbridge to a “moderate buy” rating in a research report on Wednesday, April 23rd. Jefferies Financial Group upgraded shares of Enbridge from a “hold” rating to a “buy” rating in a research report on Wednesday, July 23rd. National Bankshares reiterated a “sector perform” rating on shares of Enbridge in a research report on Tuesday, August 5th. Finally, Wall Street Zen upgraded shares of Enbridge from a “sell” rating to a “hold” rating in a research report on Thursday, May 22nd. Five investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $60.50.

Enbridge Price Performance

NYSE:ENB opened at $47.70 on Thursday. The firm has a market cap of $104.01 billion, a PE ratio of 23.50, a price-to-earnings-growth ratio of 4.35 and a beta of 0.79. Enbridge Inc has a 12 month low of $38.44 and a 12 month high of $47.88. 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 company’s 50-day moving average price is $45.51 and its two-hundred day moving average price is $44.69.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings results on Friday, August 1st. The pipeline company reported $0.47 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.06. The firm had revenue of $7.14 billion for the quarter, compared to analyst estimates of $10.56 billion. Enbridge had a net margin of 10.11% and a return on equity of 10.77%. During the same period in the previous year, the business earned $0.58 earnings per share. On average, equities analysts anticipate 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 $0.6839 dividend. This represents a $2.74 dividend on an annualized basis and a yield of 5.7%. This is a boost from Enbridge’s previous quarterly dividend of $0.68. The ex-dividend date is Friday, August 15th. Enbridge’s dividend payout ratio (DPR) is presently 133.99%.

About Enbridge

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.