PDS Planning Inc Acquires 1,391 Shares of Enbridge Inc $ENB

PDS Planning Inc lifted its holdings in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 18.6% in the second quarter, according to its most recent filing with the SEC. The firm owned 8,866 shares of the pipeline company’s stock after acquiring an additional 1,391 shares during the period. PDS Planning Inc’s holdings in Enbridge were worth $402,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently added to or reduced their stakes in the company. IFP Advisors Inc lifted its holdings in Enbridge by 1.2% during the 2nd quarter. IFP Advisors Inc now owns 18,217 shares of the pipeline company’s stock valued at $826,000 after purchasing an additional 221 shares during the last quarter. Capital Investment Counsel Inc lifted its holdings in Enbridge by 3.1% during the 1st quarter. Capital Investment Counsel Inc now owns 7,527 shares of the pipeline company’s stock valued at $333,000 after purchasing an additional 223 shares during the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors lifted its holdings in Enbridge by 0.7% during the 1st quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 34,326 shares of the pipeline company’s stock valued at $1,526,000 after purchasing an additional 226 shares during the last quarter. Loudon Investment Management LLC lifted its holdings in Enbridge by 1.1% during the 1st quarter. Loudon Investment Management LLC now owns 21,201 shares of the pipeline company’s stock valued at $939,000 after purchasing an additional 240 shares during the last quarter. Finally, Key Client Fiduciary Advisors LLC lifted its holdings in Enbridge by 1.7% during the 2nd quarter. Key Client Fiduciary Advisors LLC now owns 14,606 shares of the pipeline company’s stock valued at $662,000 after purchasing an additional 242 shares during the last quarter. 54.60% of the stock is owned by institutional investors.

Enbridge Stock Down 0.7%

Shares of NYSE:ENB opened at $47.67 on Friday. Enbridge Inc has a one year low of $39.73 and a one year high of $50.54. The company has a 50 day moving average of $48.41 and a 200-day moving average of $46.26. The company has a debt-to-equity ratio of 1.58, a current ratio of 0.75 and a quick ratio of 0.65. The stock has a market cap of $103.96 billion, a price-to-earnings ratio of 23.48, a P/E/G ratio of 4.37 and a beta of 0.78.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings results on Friday, August 1st. The pipeline company reported $0.47 EPS for the quarter, topping 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 company had revenue of $7.14 billion during the quarter, compared to analysts’ expectations of $10.56 billion. During the same quarter in the previous year, the company earned $0.58 EPS. On average, sell-side analysts forecast that Enbridge Inc will post 2.14 earnings per share for the current year.

Enbridge Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 1st. Stockholders of record on Friday, August 15th were given a dividend of $0.6839 per share. The ex-dividend date was Friday, August 15th. This represents a $2.74 annualized dividend and a dividend yield of 5.7%. This is a positive change from Enbridge’s previous quarterly dividend of $0.68. Enbridge’s dividend payout ratio is presently 134.98%.

Analysts Set New Price Targets

ENB has been the subject of several analyst reports. Wall Street Zen downgraded shares of Enbridge from a “hold” rating to a “sell” rating in a report on Sunday, September 21st. CIBC cut shares of Enbridge from an “outperform” rating to a “neutral” rating in a research report on Thursday. Zacks Research cut shares of Enbridge from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 17th. Jefferies Financial Group upgraded shares of Enbridge from a “hold” rating to a “buy” rating in a research report on Wednesday, July 23rd. Finally, Cibc World Mkts cut shares of Enbridge from a “strong-buy” rating to a “hold” rating in a research report on Thursday. Six investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target 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.