Patten & Patten Inc. TN Acquires 400 Shares of Enbridge Inc $ENB

Patten & Patten Inc. TN lifted its holdings in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 3.8% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 10,898 shares of the pipeline company’s stock after purchasing an additional 400 shares during the period. Patten & Patten Inc. TN’s holdings in Enbridge were worth $494,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Dagco Inc. bought a new stake in shares of Enbridge during the first quarter worth $25,000. Garde Capital Inc. bought a new stake in shares of Enbridge during the first quarter worth $26,000. Financial Gravity Asset Management Inc. bought a new stake in shares of Enbridge during the first quarter worth $28,000. Accent Capital Management LLC bought a new stake in shares of Enbridge during the first quarter worth $30,000. Finally, Wolff Wiese Magana LLC grew its holdings in shares of 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 purchasing an additional 365 shares during the last quarter. Institutional investors own 54.60% of the company’s stock.

Enbridge Price Performance

Shares of ENB 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 1 year low of $39.73 and a 1 year high of $50.54. The stock has a market cap of $103.02 billion, a P/E ratio of 23.27, a price-to-earnings-growth ratio of 4.37 and a beta of 0.78. The stock’s 50-day moving average price is $48.47 and its two-hundred day moving average price is $46.34.

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 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 firm had revenue of $7.14 billion for the quarter, compared to analysts’ expectations of $10.56 billion. During the same quarter last year, the business earned $0.58 earnings per share. On average, equities analysts predict that Enbridge Inc will post 2.14 earnings per share for the current year.

Enbridge Increases Dividend

The business 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 dividend on an annualized basis and a yield of 5.8%. This is an increase from Enbridge’s previous quarterly dividend of $0.68. The ex-dividend date was Friday, August 15th. Enbridge’s dividend payout ratio (DPR) is 134.98%.

Analyst Upgrades and Downgrades

ENB has been the topic of several research analyst reports. Weiss Ratings restated a “buy (b)” rating on shares of Enbridge in a report on Wednesday, October 8th. CIBC cut Enbridge from an “outperform” rating to a “neutral” rating in a report on Thursday, October 9th. Wall Street Zen cut Enbridge from a “hold” rating to a “sell” rating in a report on Sunday, September 21st. Cibc World Mkts cut Enbridge from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 9th. Finally, Zacks Research cut Enbridge from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 17th. Six investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat.com, Enbridge currently has an average rating of “Hold” and an average target price of $60.50.

Enbridge Company 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.