O Keefe Stevens Advisory Inc. Purchases 4,860 Shares of Enbridge Inc $ENB

O Keefe Stevens Advisory Inc. increased its position in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 18.7% during the second quarter, HoldingsChannel.com reports. The firm owned 30,843 shares of the pipeline company’s stock after buying an additional 4,860 shares during the period. Enbridge accounts for about 0.4% of O Keefe Stevens Advisory Inc.’s investment portfolio, making the stock its 28th largest holding. O Keefe Stevens Advisory Inc.’s holdings in Enbridge were worth $1,398,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Dagco Inc. bought a new stake in Enbridge in the first quarter valued at $25,000. Garde Capital Inc. bought a new stake in Enbridge in the first quarter valued at $26,000. Financial Gravity Asset Management Inc. bought a new stake in Enbridge in the first quarter valued at $28,000. Accent Capital Management LLC bought a new stake in Enbridge in the first quarter valued at $30,000. Finally, Wolff Wiese Magana LLC grew its position in Enbridge by 91.3% in the first quarter. Wolff Wiese Magana LLC now owns 765 shares of the pipeline company’s stock valued at $34,000 after acquiring an additional 365 shares during the period. 54.60% of the stock is currently owned by institutional investors.

Enbridge Price Performance

Enbridge stock opened at $50.11 on Friday. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.65 and a current ratio of 0.75. The firm has a market cap of $109.27 billion, a P/E ratio of 24.68, a P/E/G ratio of 4.58 and a beta of 0.78. The business’s fifty day moving average is $48.06 and its two-hundred day moving average is $46.11. Enbridge Inc has a 52 week low of $39.73 and a 52 week high of $50.54.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings results on Friday, August 1st. The pipeline company reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.06. Enbridge had a return on equity of 10.77% and a net margin of 10.11%.The business had revenue of $7.14 billion for the quarter, compared to analyst estimates of $10.56 billion. During the same quarter in the prior year, the firm posted $0.58 earnings per share. Equities research analysts forecast that Enbridge Inc will post 2.14 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 1st. Stockholders of record on Friday, August 15th were paid a dividend of $0.6839 per share. This represents a $2.74 annualized dividend and a dividend yield of 5.5%. This is a boost from Enbridge’s previous quarterly dividend of $0.68. The ex-dividend date of this dividend was Friday, August 15th. Enbridge’s payout ratio is currently 134.98%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on ENB. Jefferies Financial Group upgraded Enbridge from a “hold” rating to a “buy” rating in a research report on Wednesday, July 23rd. Wall Street Zen cut Enbridge from a “hold” rating to a “sell” rating in a research report on Sunday, September 21st. Weiss Ratings reiterated a “buy (b)” rating on shares of Enbridge in a research report on Saturday, September 27th. Zacks Research lowered Enbridge from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 17th. Finally, Argus boosted their price objective on Enbridge from $50.00 to $54.00 and gave the stock a “buy” rating in a research note on Tuesday, August 12th. Seven equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, Enbridge presently has a consensus rating of “Moderate Buy” and a consensus price target of $60.50.

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.