OLD Second National Bank of Aurora Sells 38,189 Shares of Enbridge Inc $ENB

OLD Second National Bank of Aurora reduced its position in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 81.2% in the second quarter, HoldingsChannel.com reports. The firm owned 8,832 shares of the pipeline company’s stock after selling 38,189 shares during the period. OLD Second National Bank of Aurora’s holdings in Enbridge were worth $479,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of ENB. Vanguard Group Inc. lifted its holdings in Enbridge by 2.1% in the 4th quarter. Vanguard Group Inc. now owns 100,364,993 shares of the pipeline company’s stock worth $4,802,766,000 after buying an additional 2,067,516 shares during the period. RNC Capital Management LLC increased its stake in shares of Enbridge by 1.6% during the fourth quarter. RNC Capital Management LLC now owns 1,446,697 shares of the pipeline company’s stock valued at $69,196,000 after buying an additional 22,637 shares during the period. Thomasville National Bank increased its stake in shares of Enbridge by 3.0% during the fourth quarter. Thomasville National Bank now owns 868,003 shares of the pipeline company’s stock valued at $41,517,000 after buying an additional 24,993 shares during the period. Intact Investment Management Inc. raised its holdings in shares of Enbridge by 22.8% during the fourth quarter. Intact Investment Management Inc. now owns 987,976 shares of the pipeline company’s stock valued at $47,275,000 after acquiring an additional 183,163 shares in the last quarter. Finally, Western Wealth Management LLC raised its holdings in shares of Enbridge by 346.8% during the first quarter. Western Wealth Management LLC now owns 36,190 shares of the pipeline company’s stock valued at $1,959,000 after acquiring an additional 28,091 shares in the last quarter. 54.60% of the stock is owned by institutional investors.

Analyst Ratings Changes

ENB has been the subject of a number of research analyst reports. Wall Street Zen raised Enbridge from a “sell” rating to a “hold” rating in a research note on Sunday, July 12th. Wolfe Research set a $50.00 price objective on shares of Enbridge in a research report on Tuesday, August 4th. TD Securities restated a “hold” rating on shares of Enbridge in a report on Thursday, July 16th. Royal Bank Of Canada raised their target price on shares of Enbridge from $79.00 to $84.00 and gave the stock an “outperform” rating in a research report on Monday, August 3rd. Finally, Raymond James Financial lowered shares of Enbridge from an “outperform” rating to a “market perform” rating in a research note on Friday, July 31st. Four investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $67.00.

Enbridge Stock Down 0.3%

Shares of NYSE:ENB opened at $51.30 on Friday. The firm has a market capitalization of $112.03 billion, a P/E ratio of 27.43 and a beta of 0.58. The company has a debt-to-equity ratio of 1.69, a quick ratio of 0.66 and a current ratio of 0.72. The stock has a 50 day moving average price of $54.77 and a 200-day moving average price of $53.93. Enbridge Inc has a 52-week low of $45.03 and a 52-week high of $58.45.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings results on Friday, July 31st. The pipeline company reported $0.46 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.03. Enbridge had a return on equity of 11.17% and a net margin of 7.20%.The company had revenue of $9.70 billion for the quarter, compared to analyst estimates of $8.67 billion. During the same period in the previous year, the company posted $0.65 earnings per share. As a group, equities research analysts anticipate that Enbridge Inc will post 2.11 EPS for the current fiscal year.

Enbridge Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Friday, August 14th will be given a dividend of $0.97 per share. The ex-dividend date of this dividend is Friday, August 14th. This represents a $3.88 annualized dividend and a yield of 7.6%. Enbridge’s dividend payout ratio (DPR) is currently 152.41%.

About Enbridge

Enbridge Inc is a Calgary, Alberta–based energy infrastructure company that develops, owns and operates a diversified portfolio of energy transportation, distribution and generation assets. Its core activities include the operation of crude oil and liquids pipelines, natural gas transmission and distribution systems, and energy storage facilities. In addition to midstream transportation and storage, Enbridge has expanded into renewable power generation and energy transition projects, including wind, solar and utility-scale generation assets.

The company serves customers primarily in Canada and the United States and has interests in other international energy projects.