Enbridge Inc $ENB Shares Sold by Louisbourg Investments Inc.

Louisbourg Investments Inc. cut its position in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 3.5% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 15,208 shares of the pipeline company’s stock after selling 553 shares during the quarter. Louisbourg Investments Inc.’s holdings in Enbridge were worth $688,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the company. IFP Advisors Inc increased its position in shares of Enbridge by 1.2% during the 2nd quarter. IFP Advisors Inc now owns 18,217 shares of the pipeline company’s stock valued at $826,000 after purchasing an additional 221 shares during the period. Capital Investment Counsel Inc increased its position in shares of Enbridge by 3.1% during the 1st quarter. Capital Investment Counsel Inc now owns 7,527 shares of the pipeline company’s stock valued at $333,000 after purchasing an additional 223 shares during the period. Bay Colony Advisory Group Inc d b a Bay Colony Advisors increased its position in shares of Enbridge by 0.7% during the 1st quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 34,326 shares of the pipeline company’s stock valued at $1,526,000 after purchasing an additional 226 shares during the period. Loudon Investment Management LLC increased its position in shares of Enbridge by 1.1% during the 1st quarter. Loudon Investment Management LLC now owns 21,201 shares of the pipeline company’s stock valued at $939,000 after purchasing an additional 240 shares during the period. Finally, Key Client Fiduciary Advisors LLC increased its position in shares of Enbridge by 1.7% during the 2nd quarter. Key Client Fiduciary Advisors LLC now owns 14,606 shares of the pipeline company’s stock valued at $662,000 after purchasing an additional 242 shares during the period. 54.60% of the stock is currently owned by institutional investors and hedge funds.

Enbridge Stock Performance

Shares of ENB stock opened at $47.67 on Friday. Enbridge Inc has a 1-year low of $39.73 and a 1-year high of $50.54. The company has a current ratio of 0.75, a quick ratio of 0.65 and a debt-to-equity ratio of 1.58. The company has a market capitalization of $103.96 billion, a price-to-earnings ratio of 23.48, a P/E/G ratio of 4.39 and a beta of 0.78. The stock’s fifty day simple moving average is $48.41 and its 200-day simple moving average is $46.25.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings results on Friday, August 1st. The pipeline company reported $0.47 earnings per share for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $10.56 billion. During the same quarter in the previous year, the company posted $0.58 earnings per share. On average, sell-side analysts predict that Enbridge Inc will post 2.14 earnings per share for the current fiscal year.

Enbridge Increases Dividend

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

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Argus lifted their price target on Enbridge from $50.00 to $54.00 and gave the company a “buy” rating in a research report on Tuesday, August 12th. CIBC cut Enbridge from an “outperform” rating to a “neutral” rating in a report on Thursday. Cibc World Mkts cut Enbridge from a “strong-buy” rating to a “hold” rating in a report on Thursday. Jefferies Financial Group upgraded Enbridge from a “hold” rating to a “buy” rating in a report on Wednesday, July 23rd. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Enbridge in a report on Wednesday. Six analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from 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.