Enbridge Inc $ENB Shares Purchased by RFG Advisory LLC

RFG Advisory LLC increased its stake in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 33.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,005 shares of the pipeline company’s stock after acquiring an additional 4,740 shares during the quarter. RFG Advisory LLC’s holdings in Enbridge were worth $861,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Dagco Inc. purchased a new position in Enbridge during the 1st quarter worth $25,000. Garde Capital Inc. purchased a new position in Enbridge during the 1st quarter worth $26,000. Financial Gravity Asset Management Inc. purchased a new position in Enbridge during the 1st quarter worth $28,000. Accent Capital Management LLC purchased a new position in Enbridge during the 1st quarter worth $30,000. Finally, Wolff Wiese Magana LLC grew its position in Enbridge by 91.3% during the 1st 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. 54.60% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have issued reports on ENB. Wall Street Zen downgraded shares of Enbridge from a “hold” rating to a “sell” rating in a research report on Sunday, September 21st. Zacks Research downgraded shares of Enbridge from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 17th. National Bankshares reiterated a “sector perform” rating on shares of Enbridge in a research note on Tuesday, August 5th. Weiss Ratings reiterated a “buy (b)” rating on shares of Enbridge in a research note on Wednesday, October 8th. Finally, CIBC lowered 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 issued a Hold rating to the stock. Based on data from MarketBeat.com, Enbridge has a consensus rating of “Hold” and an average price target of $60.50.

Enbridge Trading Down 0.8%

Shares of Enbridge stock opened at $47.24 on Friday. Enbridge Inc has a 52-week low of $39.73 and a 52-week high of $50.54. The company has a quick ratio of 0.65, a current ratio of 0.75 and a debt-to-equity ratio of 1.58. The company’s 50-day simple moving average is $48.47 and its 200-day simple moving average is $46.34. The firm has a market cap of $103.02 billion, a price-to-earnings ratio of 23.27, a price-to-earnings-growth ratio of 4.37 and a beta of 0.78.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings data on Friday, August 1st. The pipeline company reported $0.47 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.06. The firm had revenue of $7.14 billion for the quarter, compared to the consensus estimate of $10.56 billion. Enbridge had a net margin of 10.11% and a return on equity of 10.77%. During the same quarter in the previous year, the firm earned $0.58 earnings per share. As a group, equities research analysts anticipate that Enbridge Inc will post 2.14 earnings per share for the current year.

Enbridge Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 1st. Investors of record on Friday, August 15th were issued a dividend of $0.6839 per share. This is an increase 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 presently 134.98%.

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.