Comprehensive Money Management Services LLC Boosts Stock Position in Enbridge Inc $ENB

Comprehensive Money Management Services LLC lifted its holdings in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 4.5% in the second quarter, HoldingsChannel reports. The firm owned 9,975 shares of the pipeline company’s stock after purchasing an additional 433 shares during the quarter. Comprehensive Money Management Services LLC’s holdings in Enbridge were worth $452,000 at the end of the most recent reporting period.

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

Enbridge Stock Down 0.7%

Shares of ENB opened at $47.67 on Friday. Enbridge Inc has a 12-month low of $39.73 and a 12-month high of $50.54. The firm has a fifty day moving average price of $48.41 and a 200-day moving average price of $46.25. The firm has a market capitalization of $103.96 billion, a P/E ratio of 23.48, a P/E/G ratio of 4.39 and a beta of 0.78. The company has a current ratio of 0.75, a quick ratio of 0.65 and a debt-to-equity ratio of 1.58.

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

Enbridge Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 1st. Shareholders of record on Friday, August 15th were issued a dividend of $0.6839 per share. This represents a $2.74 annualized dividend and a yield of 5.7%. The ex-dividend date was Friday, August 15th. This is a positive change from Enbridge’s previous quarterly dividend of $0.68. Enbridge’s dividend payout ratio (DPR) is currently 134.98%.

Wall Street Analyst Weigh In

Several research analysts have commented on ENB shares. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Enbridge in a research note on Wednesday. Argus lifted their price objective on shares of Enbridge from $50.00 to $54.00 and gave the stock a “buy” rating in a research note on Tuesday, August 12th. Wall Street Zen lowered shares of Enbridge from a “hold” rating to a “sell” rating in a research note on Sunday, September 21st. Jefferies Financial Group raised shares of Enbridge from a “hold” rating to a “buy” rating in a research note on Wednesday, July 23rd. Finally, Zacks Research lowered shares of Enbridge from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 17th. Six analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat.com, Enbridge currently has an average rating of “Hold” and an average price target of $60.50.

Enbridge Profile

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.