Columbus Macro LLC Boosts Position in Enbridge Inc $ENB

Columbus Macro LLC raised its position in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 8.3% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 281,269 shares of the pipeline company’s stock after acquiring an additional 21,643 shares during the period. Enbridge makes up about 1.6% of Columbus Macro LLC’s investment portfolio, making the stock its 7th largest position. Columbus Macro LLC’s holdings in Enbridge were worth $12,737,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Dagco Inc. bought a new position in Enbridge during the first quarter valued at $25,000. Garde Capital Inc. bought a new position in shares of Enbridge in the first quarter worth about $26,000. Financial Gravity Asset Management Inc. bought a new position in shares of Enbridge in the first quarter worth about $28,000. Accent Capital Management LLC bought a new position in shares of Enbridge in the first quarter worth about $30,000. Finally, Wolff Wiese Magana LLC grew its holdings in shares of Enbridge by 91.3% in the first 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.

Analysts Set New Price Targets

A number of research firms have recently commented on ENB. Weiss Ratings restated a “buy (b)” rating on shares of Enbridge in a report on Wednesday. Wall Street Zen cut shares of Enbridge from a “hold” rating to a “sell” rating in a report on Sunday, September 21st. Zacks Research cut shares of Enbridge from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 17th. National Bankshares reaffirmed a “sector perform” rating on shares of Enbridge in a research note on Tuesday, August 5th. Finally, Argus upped their price objective on shares of Enbridge from $50.00 to $54.00 and gave the stock a “buy” rating in a research note on Tuesday, August 12th. Seven equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, Enbridge currently has an average rating of “Moderate Buy” and a consensus target price of $60.50.

Enbridge Stock Performance

ENB opened at $49.05 on Thursday. Enbridge Inc has a 52-week low of $39.73 and a 52-week high of $50.54. The firm’s 50-day moving average price is $48.33 and its 200-day moving average price is $46.20. The company has a quick ratio of 0.65, a current ratio of 0.75 and a debt-to-equity ratio of 1.58. The company has a market cap of $106.97 billion, a P/E ratio of 24.16, a price-to-earnings-growth ratio of 4.53 and a beta of 0.78.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings results on Friday, August 1st. The pipeline company reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.06. Enbridge had a net margin of 10.11% and a return on equity of 10.77%. The company had revenue of $7.14 billion for the quarter, compared to the consensus estimate of $10.56 billion. During the same quarter in the prior year, the company earned $0.58 EPS. As a group, equities analysts anticipate that Enbridge Inc will post 2.14 EPS for the current fiscal year.

Enbridge Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 1st. Investors of record on Friday, August 15th were issued a $0.6839 dividend. This is a boost from Enbridge’s previous quarterly dividend of $0.68. The ex-dividend date was Friday, August 15th. This represents a $2.74 annualized dividend and a yield of 5.6%. Enbridge’s dividend payout ratio is currently 134.98%.

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.