Citizens Financial Group Inc. RI Buys Shares of 5,789 Enbridge Inc $ENB

Citizens Financial Group Inc. RI purchased a new position in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 5,789 shares of the pipeline company’s stock, valued at approximately $262,000.

A number of other large investors have also added to or reduced their stakes in ENB. Mutual Advisors LLC raised its position in Enbridge by 25.3% during the 2nd quarter. Mutual Advisors LLC now owns 51,995 shares of the pipeline company’s stock worth $2,338,000 after purchasing an additional 10,488 shares during the last quarter. 111 Capital acquired a new stake in shares of Enbridge in the second quarter valued at about $1,887,000. Loudon Investment Management LLC raised its position in shares of Enbridge by 40.6% during the second 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. Ritholtz Wealth Management lifted its stake in shares of Enbridge by 37.7% in the second quarter. Ritholtz Wealth Management now owns 71,834 shares of the pipeline company’s stock worth $3,256,000 after acquiring an additional 19,655 shares during the period. Finally, Envestnet Asset Management Inc. boosted its holdings in Enbridge by 0.8% in the second quarter. Envestnet Asset Management Inc. now owns 4,142,927 shares of the pipeline company’s stock valued at $187,705,000 after acquiring an additional 32,268 shares during the last quarter. Institutional investors own 54.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on ENB. National Bankshares reaffirmed a “sector perform” rating on shares of Enbridge in a research note on Monday, November 10th. Cibc World Mkts lowered shares of Enbridge from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 9th. Zacks Research downgraded Enbridge from a “hold” rating to a “strong sell” rating in a report on Tuesday, November 11th. Argus boosted their price objective on Enbridge from $50.00 to $54.00 and gave the company a “buy” rating in a research note on Tuesday, August 12th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Enbridge in a research report on Monday. Six equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Enbridge currently has an average rating of “Hold” and an average price target of $63.00.

Enbridge Trading Up 0.8%

ENB opened at $48.64 on Thursday. The company has a fifty day moving average price of $48.26 and a two-hundred day moving average price of $46.86. Enbridge Inc has a 1-year low of $39.73 and a 1-year high of $50.54. The company has a market cap of $106.10 billion, a P/E ratio of 23.96, a price-to-earnings-growth ratio of 4.31 and a beta of 0.76. 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 (NYSE:ENB) (TSE:ENB) last released its quarterly earnings data on Friday, November 7th. The pipeline company reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.06). The company had revenue of $7 billion for the quarter, compared to the consensus estimate of $8.45 billion. Enbridge had a return on equity of 10.77% and a net margin of 10.11%.During the same period last year, the company earned $0.55 EPS. Analysts predict that Enbridge Inc will post 2.14 EPS for the current fiscal year.

Enbridge Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Friday, November 14th will be paid a $0.9425 dividend. This represents a $3.77 dividend on an annualized basis and a yield of 7.8%. This is a boost from Enbridge’s previous quarterly dividend of $0.68. The ex-dividend date of this dividend is Friday, November 14th. Enbridge’s payout ratio is 147.80%.

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.