Parkside Financial Bank & Trust Boosts Stock Position in Enbridge Inc (NYSE:ENB)

Parkside Financial Bank & Trust boosted its holdings in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 110.8% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,712 shares of the pipeline company’s stock after purchasing an additional 900 shares during the quarter. Parkside Financial Bank & Trust’s holdings in Enbridge were worth $62,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Hanson McClain Inc. increased its holdings in shares of Enbridge by 41.9% in the 1st quarter. Hanson McClain Inc. now owns 1,005 shares of the pipeline company’s stock valued at $36,000 after acquiring an additional 297 shares during the last quarter. Mengis Capital Management Inc. increased its holdings in shares of Enbridge by 4.5% in the 1st quarter. Mengis Capital Management Inc. now owns 6,918 shares of the pipeline company’s stock valued at $250,000 after acquiring an additional 300 shares during the last quarter. Lcnb Corp increased its holdings in shares of Enbridge by 1.0% in the 2nd quarter. Lcnb Corp now owns 30,021 shares of the pipeline company’s stock valued at $1,083,000 after acquiring an additional 308 shares during the last quarter. CWM LLC increased its holdings in shares of Enbridge by 14.5% in the 1st quarter. CWM LLC now owns 2,512 shares of the pipeline company’s stock valued at $91,000 after acquiring an additional 318 shares during the last quarter. Finally, Global Retirement Partners LLC increased its holdings in shares of Enbridge by 2.8% in the 1st quarter. Global Retirement Partners LLC now owns 12,270 shares of the pipeline company’s stock valued at $445,000 after acquiring an additional 330 shares during the last quarter. Institutional investors own 55.68% of the company’s stock.

NYSE:ENB traded down $0.33 during midday trading on Friday, reaching $33.06. 295,582 shares of the company traded hands, compared to its average volume of 3,261,517. Enbridge Inc has a twelve month low of $28.82 and a twelve month high of $38.04. The firm has a market capitalization of $67.13 billion, a price-to-earnings ratio of 16.13, a price-to-earnings-growth ratio of 2.61 and a beta of 0.59. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.63 and a quick ratio of 0.53. The company has a fifty day moving average price of $34.65 and a 200 day moving average price of $36.04.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings data on Friday, August 2nd. The pipeline company reported $0.50 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.42 by $0.08. Enbridge had a return on equity of 8.16% and a net margin of 9.97%. The business had revenue of $9.92 billion during the quarter. On average, equities research analysts forecast that Enbridge Inc will post 1.9 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, September 1st. Investors of record on Thursday, August 15th will be given a dividend of $0.559 per share. The ex-dividend date is Wednesday, August 14th. This represents a $2.24 dividend on an annualized basis and a yield of 6.76%. This is a positive change from Enbridge’s previous quarterly dividend of $0.52. Enbridge’s payout ratio is currently 107.80%.

In related news, insider Albert Monaco acquired 7,848 shares of Enbridge stock in a transaction that occurred on Wednesday, June 5th. The stock was acquired at an average price of $49.81 per share, for a total transaction of $390,908.88. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.42% of the company’s stock.

A number of equities research analysts have recently weighed in on the company. Wolfe Research downgraded Enbridge from an “outperform” rating to a “peer perform” rating and set a $37.00 price target for the company. in a report on Thursday, June 13th. ValuEngine downgraded Enbridge from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. Goldman Sachs Group assumed coverage on Enbridge in a report on Thursday, July 18th. They issued a “neutral” rating for the company. Credit Suisse Group downgraded Enbridge from an “outperform” rating to a “neutral” rating in a report on Thursday, April 25th. Finally, Bank of America lowered Enbridge from a “buy” rating to a “neutral” rating and set a $49.00 price objective for the company. in a research report on Tuesday, July 2nd. One analyst has rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $43.75.

About Enbridge

Enbridge Inc operates as an energy infrastructure company in Canada and the United States. The company operates through five segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution, Green Power and Transmission, and Energy Services. The Liquids Pipelines segment operates common carrier and contract crude oil, natural gas liquids (NGL), and refined products pipelines and terminals.

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Institutional Ownership by Quarter for Enbridge (NYSE:ENB)

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