Enbridge Inc $ENB Stock Position Boosted by Mutual Advisors LLC

Mutual Advisors LLC boosted its stake in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 25.3% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 51,995 shares of the pipeline company’s stock after buying an additional 10,488 shares during the period. Mutual Advisors LLC’s holdings in Enbridge were worth $2,338,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC grew its position in Enbridge by 6.1% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 438,557 shares of the pipeline company’s stock valued at $19,431,000 after buying an additional 25,071 shares in the last quarter. 111 Capital bought a new position in Enbridge in the 2nd quarter valued at about $1,887,000. Loudon Investment Management LLC grew its position in Enbridge by 40.6% in the 2nd quarter. Loudon Investment Management LLC now owns 29,801 shares of the pipeline company’s stock valued at $1,351,000 after buying an additional 8,600 shares in the last quarter. Hartline Investment Corp grew its position in Enbridge by 31.3% in the 1st quarter. Hartline Investment Corp now owns 36,098 shares of the pipeline company’s stock valued at $1,600,000 after buying an additional 8,610 shares in the last quarter. Finally, Raymond James Financial Inc. grew its position in Enbridge by 0.8% in the 1st quarter. Raymond James Financial Inc. now owns 4,299,977 shares of the pipeline company’s stock valued at $190,532,000 after buying an additional 35,515 shares in the last quarter. Institutional investors own 54.60% of the company’s stock.

Enbridge Price Performance

ENB stock opened at $47.24 on Friday. 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 Inc has a one year low of $39.73 and a one year high of $50.54. The firm has a market capitalization of $103.02 billion, a PE ratio of 23.27, a P/E/G ratio of 4.37 and a beta of 0.78. The firm has a 50-day moving average of $48.47 and a two-hundred day moving average of $46.34.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings data on Friday, August 1st. The pipeline company reported $0.47 EPS for the quarter, beating 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 company had revenue of $7.14 billion during the quarter, compared to analyst estimates of $10.56 billion. During the same period in the prior year, the firm earned $0.58 earnings per share. On average, analysts forecast that Enbridge Inc will post 2.14 earnings per share for the current year.

Enbridge Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 1st. Shareholders of record on Friday, August 15th were paid a dividend of $0.6839 per share. This is a boost from Enbridge’s previous quarterly dividend of $0.68. This represents a $2.74 dividend on an annualized basis and a yield of 5.8%. The ex-dividend date of this dividend was Friday, August 15th. Enbridge’s payout ratio is currently 134.98%.

Analyst Upgrades and Downgrades

ENB has been the subject of a number of recent analyst reports. Cibc World Mkts lowered shares of Enbridge from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 9th. 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 cut 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, CIBC cut shares of Enbridge from an “outperform” rating to a “neutral” rating in a research note on Thursday, October 9th. Six equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Enbridge 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.