Enbridge Inc $ENB Position Lessened by Harbour Trust & Investment Management Co

Harbour Trust & Investment Management Co decreased its stake in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 1.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 140,278 shares of the pipeline company’s stock after selling 2,528 shares during the period. Harbour Trust & Investment Management Co’s holdings in Enbridge were worth $6,357,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in ENB. Dagco Inc. bought a new stake in shares of Enbridge in the 1st quarter worth approximately $25,000. Garde Capital Inc. bought a new stake in shares of Enbridge in the 1st quarter worth approximately $26,000. Financial Gravity Asset Management Inc. bought a new stake in shares of Enbridge in the 1st quarter worth approximately $28,000. Accent Capital Management LLC bought a new stake in shares of Enbridge in the 1st quarter worth approximately $30,000. Finally, Wolff Wiese Magana LLC lifted its holdings in shares of Enbridge by 91.3% in 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. Institutional investors own 54.60% of the company’s stock.

Enbridge Price Performance

NYSE ENB opened at $47.74 on Tuesday. 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. The firm has a market capitalization of $104.10 billion, a PE ratio of 23.51, a P/E/G ratio of 4.38 and a beta of 0.78. The company’s 50 day simple moving average is $48.44 and its 200 day simple moving average is $46.30.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings data on Friday, August 1st. The pipeline company reported $0.47 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $10.56 billion. During the same quarter last year, the business earned $0.58 earnings per share. As a group, equities research analysts forecast that Enbridge Inc will post 2.14 EPS for the current fiscal 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 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 5.7%. The ex-dividend date was Friday, August 15th. Enbridge’s dividend payout ratio (DPR) is 134.98%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on ENB shares. National Bankshares reaffirmed a “sector perform” rating on shares of Enbridge in a report on Tuesday, August 5th. Zacks Research downgraded Enbridge from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 17th. Cibc World Mkts downgraded Enbridge from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 9th. Argus boosted their price objective on Enbridge from $50.00 to $54.00 and gave the stock a “buy” rating in a research report on Tuesday, August 12th. Finally, Jefferies Financial Group upgraded Enbridge from a “hold” rating to a “buy” rating in a research report on Wednesday, July 23rd. Six analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $60.50.

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.