Patten Group Inc. Has $1.23 Million Stock Position in Enbridge Inc $ENB

Patten Group Inc. lowered its stake in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 0.9% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 27,234 shares of the pipeline company’s stock after selling 248 shares during the quarter. Patten Group Inc.’s holdings in Enbridge were worth $1,234,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the stock. Brighton Jones LLC acquired a new stake in Enbridge during the 4th quarter worth $261,000. Cambridge Investment Research Advisors Inc. raised its stake in Enbridge by 3.0% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 371,982 shares of the pipeline company’s stock worth $16,475,000 after buying an additional 10,807 shares during the period. Bessemer Group Inc. raised its stake in Enbridge by 87.1% during the 1st quarter. Bessemer Group Inc. now owns 170,097 shares of the pipeline company’s stock worth $7,535,000 after buying an additional 79,181 shares during the period. Golden State Wealth Management LLC raised its stake in Enbridge by 527.0% during the 1st quarter. Golden State Wealth Management LLC now owns 15,274 shares of the pipeline company’s stock worth $677,000 after buying an additional 12,838 shares during the period. Finally, Alpine Bank Wealth Management acquired a new stake in Enbridge during the 1st quarter worth $109,000. Institutional investors and hedge funds own 54.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on ENB. Jefferies Financial Group raised Enbridge from a “hold” rating to a “buy” rating in a research note on Wednesday, July 23rd. Zacks Research downgraded Enbridge from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 17th. Weiss Ratings reiterated a “buy (b)” rating on shares of Enbridge in a report on Wednesday, October 8th. Wall Street Zen cut Enbridge from a “hold” rating to a “sell” rating in a report on Sunday, September 21st. Finally, National Bankshares reiterated a “sector perform” rating on shares of Enbridge in a report on Tuesday, August 5th. Six analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat, Enbridge has an average rating of “Hold” and an average target price of $60.50.

Enbridge Price Performance

Shares of NYSE ENB opened at $47.29 on Wednesday. The stock has a market capitalization of $103.12 billion, a price-to-earnings ratio of 23.29, a PEG ratio of 4.33 and a beta of 0.78. The business has a 50-day moving average of $48.46 and a 200-day moving average of $46.40. The company has a debt-to-equity ratio of 1.58, a current ratio of 0.75 and a quick ratio of 0.65. Enbridge Inc has a fifty-two week low of $39.73 and a fifty-two week high of $50.54.

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, beating 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 business had revenue of $7.14 billion during the quarter, compared to the consensus estimate of $10.56 billion. During the same period last year, the business posted $0.58 EPS. As a group, sell-side analysts predict that Enbridge Inc will post 2.14 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 1st. Shareholders of record on Friday, August 15th were given a dividend of $0.6839 per share. This represents a $2.74 annualized dividend and a yield of 5.8%. This is a boost 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%.

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.