InTrack Investment Management Inc Reduces Position in Enbridge Inc $ENB

InTrack Investment Management Inc lessened its position in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 27.6% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 9,658 shares of the pipeline company’s stock after selling 3,680 shares during the quarter. InTrack Investment Management Inc’s holdings in Enbridge were worth $438,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Capital Investment Counsel Inc raised its holdings in Enbridge by 3.1% during the first quarter. Capital Investment Counsel Inc now owns 7,527 shares of the pipeline company’s stock worth $333,000 after purchasing an additional 223 shares during the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors increased its position in Enbridge by 0.7% during the first quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 34,326 shares of the pipeline company’s stock worth $1,526,000 after buying an additional 226 shares in the last quarter. Loudon Investment Management LLC increased its position in Enbridge by 1.1% during the first quarter. Loudon Investment Management LLC now owns 21,201 shares of the pipeline company’s stock worth $939,000 after buying an additional 240 shares in the last quarter. Key Client Fiduciary Advisors LLC increased its position in Enbridge by 1.7% during the second quarter. Key Client Fiduciary Advisors LLC now owns 14,606 shares of the pipeline company’s stock worth $662,000 after buying an additional 242 shares in the last quarter. Finally, Sound View Wealth Advisors Group LLC increased its position in Enbridge by 4.8% during the first quarter. Sound View Wealth Advisors Group LLC now owns 5,304 shares of the pipeline company’s stock worth $235,000 after buying an additional 243 shares in the last quarter. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on ENB. Weiss Ratings reissued a “buy (b)” rating on shares of Enbridge in a research report on Wednesday. Wall Street Zen downgraded Enbridge from a “hold” rating to a “sell” rating in a research report on Sunday, September 21st. Argus raised their price target on Enbridge from $50.00 to $54.00 and gave the stock a “buy” rating in a research report on Tuesday, August 12th. Jefferies Financial Group raised Enbridge from a “hold” rating to a “buy” rating in a research report on Wednesday, July 23rd. Finally, Zacks Research downgraded Enbridge from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 17th. Seven investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, Enbridge presently has a consensus rating of “Moderate Buy” and a consensus price target of $60.50.

Enbridge Trading Down 0.8%

Shares of ENB opened at $49.05 on Thursday. The stock’s 50-day moving average is $48.33 and its two-hundred day moving average is $46.20. The stock has a market cap of $106.97 billion, a PE ratio of 24.16, a P/E/G ratio of 4.53 and a beta of 0.78. Enbridge Inc has a 12 month low of $39.73 and a 12 month high of $50.54. 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 (NYSE:ENB) (TSE:ENB) last issued 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 company had revenue of $7.14 billion for the quarter, compared to analysts’ expectations of $10.56 billion. Enbridge had a return on equity of 10.77% and a net margin of 10.11%.During the same quarter in the previous year, the firm posted $0.58 earnings per share. Equities analysts forecast 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 paid a dividend of $0.6839 per share. This is a boost from Enbridge’s previous quarterly dividend of $0.68. This represents a $2.74 dividend on an annualized basis and a dividend yield of 5.6%. The ex-dividend date was Friday, August 15th. Enbridge’s payout ratio is presently 134.98%.

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.