West Family Investments Inc. Acquires 6,142 Shares of Enbridge Inc $ENB

West Family Investments Inc. boosted its holdings in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 119.0% in the second quarter, Holdings Channel reports. The institutional investor owned 11,302 shares of the pipeline company’s stock after acquiring an additional 6,142 shares during the quarter. West Family Investments Inc.’s holdings in Enbridge were worth $512,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. Dagco Inc. bought a new position in shares of Enbridge in the first quarter worth $25,000. Whipplewood Advisors LLC lifted its holdings in Enbridge by 112.4% during the 2nd quarter. Whipplewood Advisors LLC now owns 582 shares of the pipeline company’s stock worth $26,000 after purchasing an additional 308 shares in the last quarter. Financial Gravity Companies Inc. purchased a new stake in Enbridge during the 2nd quarter worth about $29,000. Accent Capital Management LLC bought a new position in Enbridge in the 1st quarter worth about $30,000. Finally, Addison Advisors LLC bought a new position in Enbridge in the 2nd quarter worth about $35,000. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Enbridge Trading Up 1.3%

Shares of ENB opened at $48.65 on Friday. Enbridge Inc has a 1-year low of $39.73 and a 1-year high of $50.54. The company has a market capitalization of $106.12 billion, a P/E ratio of 23.97, a P/E/G ratio of 4.31 and a beta of 0.76. 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’s 50 day simple moving average is $48.11 and its 200 day simple moving average is $46.97.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings results on Friday, November 7th. The pipeline company reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.06). Enbridge had a return on equity of 10.77% and a net margin of 10.11%.The company had revenue of $7 billion during the quarter, compared to the consensus estimate of $8.45 billion. During the same period in the previous year, the company earned $0.55 EPS. Sell-side analysts forecast that Enbridge Inc will post 2.14 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Friday, November 14th will be given a $0.9425 dividend. This represents a $3.77 dividend on an annualized basis and a yield of 7.7%. The ex-dividend date is Friday, November 14th. This is a positive change from Enbridge’s previous quarterly dividend of $0.68. Enbridge’s dividend payout ratio is presently 147.80%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Weiss Ratings reiterated a “buy (b-)” rating on shares of Enbridge in a research report on Monday, November 24th. Royal Bank Of Canada boosted their price objective on shares of Enbridge from $67.00 to $72.00 and gave the company an “outperform” rating in a research note on Monday, November 10th. BMO Capital Markets reiterated a “market perform” rating on shares of Enbridge in a research note on Monday, November 10th. Zacks Research downgraded shares of Enbridge from a “hold” rating to a “strong sell” rating in a report on Tuesday, November 11th. Finally, Scotiabank restated a “sector perform” rating on shares of Enbridge in a research report on Monday, November 10th. Six analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $63.00.

Enbridge Company 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.