LGT Group Foundation Trims Stock Holdings in Enbridge Inc (NYSE:ENB)

LGT Group Foundation trimmed its position in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 1.0% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 258,035 shares of the pipeline company’s stock after selling 2,625 shares during the quarter. LGT Group Foundation’s holdings in Enbridge were worth $11,422,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the stock. Capital Investment Counsel Inc grew its position in shares of Enbridge by 3.1% in the 1st quarter. Capital Investment Counsel Inc now owns 7,527 shares of the pipeline company’s stock worth $333,000 after acquiring an additional 223 shares in the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors grew its position in shares of Enbridge by 0.7% in the 1st 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 acquiring an additional 226 shares in the last quarter. Loudon Investment Management LLC grew its position in shares of Enbridge by 1.1% in the 1st quarter. Loudon Investment Management LLC now owns 21,201 shares of the pipeline company’s stock worth $939,000 after acquiring an additional 240 shares in the last quarter. Sound View Wealth Advisors Group LLC grew its position in shares of Enbridge by 4.8% in the 1st quarter. Sound View Wealth Advisors Group LLC now owns 5,304 shares of the pipeline company’s stock worth $235,000 after acquiring an additional 243 shares in the last quarter. Finally, Hardin Capital Partners LLC grew its position in shares of Enbridge by 2.7% in the 1st quarter. Hardin Capital Partners LLC now owns 9,553 shares of the pipeline company’s stock worth $423,000 after acquiring an additional 252 shares in the last quarter. Institutional investors and hedge funds own 54.60% of the company’s stock.

Enbridge Stock Up 1.1%

Shares of Enbridge stock opened at $47.51 on Tuesday. The business’s fifty day moving average price is $45.49 and its two-hundred day moving average price is $44.65. 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 company has a market capitalization of $103.60 billion, a P/E ratio of 23.41, a PEG ratio of 4.32 and a beta of 0.79. Enbridge Inc has a 1-year low of $38.44 and a 1-year high of $47.62.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its earnings results on Friday, August 1st. The pipeline company reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.06. The firm had revenue of $7.14 billion for the quarter, compared to the consensus estimate 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 business earned $0.58 EPS. As a group, research analysts forecast that Enbridge Inc will post 2.14 EPS for the current year.

Enbridge Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 1st. Stockholders of record on Friday, August 15th will be paid a $0.6839 dividend. The ex-dividend date of this dividend is Friday, August 15th. This represents a $2.74 dividend on an annualized basis and a dividend yield of 5.8%. This is a boost from Enbridge’s previous quarterly dividend of $0.68. Enbridge’s dividend payout ratio (DPR) is presently 133.99%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on ENB. Jefferies Financial Group upgraded Enbridge from a “hold” rating to a “buy” rating in a research report on Wednesday, July 23rd. Wall Street Zen raised Enbridge from a “sell” rating to a “hold” rating in a report on Thursday, May 22nd. Raymond James Financial raised Enbridge to a “moderate buy” rating in a report on Wednesday, April 23rd. Royal Bank Of Canada reissued an “outperform” rating and issued a $67.00 price target on shares of Enbridge in a report on Monday, May 12th. Finally, National Bankshares reissued a “sector perform” rating on shares of Enbridge in a report on Tuesday, August 5th. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Enbridge presently has a consensus rating of “Moderate Buy” and a consensus target price of $67.00.

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.