Vontobel Holding Ltd. Raises Holdings in Enbridge Inc $ENB

Vontobel Holding Ltd. grew its holdings in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 28.8% in the second quarter, Holdings Channel.com reports. The institutional investor owned 14,785 shares of the pipeline company’s stock after buying an additional 3,304 shares during the quarter. Vontobel Holding Ltd.’s holdings in Enbridge were worth $671,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of ENB. Wealth Enhancement Advisory Services LLC grew its position in Enbridge by 6.1% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 438,557 shares of the pipeline company’s stock worth $19,431,000 after acquiring an additional 25,071 shares during the period. 111 Capital purchased a new stake in shares of Enbridge in the 2nd quarter valued at approximately $1,887,000. Loudon Investment Management LLC lifted its holdings in shares of Enbridge by 40.6% in the 2nd quarter. Loudon Investment Management LLC now owns 29,801 shares of the pipeline company’s stock worth $1,351,000 after acquiring an additional 8,600 shares during the last quarter. Hartline Investment Corp boosted its position in shares of Enbridge by 31.3% during the first quarter. Hartline Investment Corp now owns 36,098 shares of the pipeline company’s stock worth $1,600,000 after buying an additional 8,610 shares during the period. Finally, JBR Co Financial Management Inc acquired a new position in Enbridge in the 1st quarter valued at about $330,000. 54.60% of the stock is owned by hedge funds and other institutional investors.

Enbridge Price Performance

Shares of NYSE ENB opened at $47.74 on Tuesday. The company’s fifty day moving average is $48.44 and its two-hundred day moving average is $46.30. 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 capitalization of $104.10 billion, a P/E ratio of 23.51, a PEG ratio of 4.38 and a beta of 0.78. Enbridge Inc has a one year low of $39.73 and a one year high of $50.54.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings data on Friday, August 1st. The pipeline company reported $0.47 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.06. Enbridge had a net margin of 10.11% and a return on equity of 10.77%. The firm 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 firm earned $0.58 earnings per share. Analysts forecast that Enbridge Inc will post 2.14 EPS for the current fiscal year.

Enbridge Increases Dividend

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

Analyst Upgrades and Downgrades

ENB has been the subject of several recent research reports. Weiss Ratings reissued a “buy (b)” rating on shares of Enbridge in a research report on Wednesday, October 8th. Wall Street Zen downgraded Enbridge from a “hold” rating to a “sell” rating in a report on Sunday, September 21st. Jefferies Financial Group raised shares of Enbridge from a “hold” rating to a “buy” rating in a research report on Wednesday, July 23rd. Argus upped their target price on Enbridge from $50.00 to $54.00 and gave the company a “buy” rating in a research report on Tuesday, August 12th. Finally, Cibc World Mkts downgraded Enbridge from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 9th. Six analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat, Enbridge presently has a consensus rating of “Hold” and an average target price 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.