Tectonic Advisors LLC Buys 18,590 Shares of Enbridge Inc $ENB

Tectonic Advisors LLC raised its stake in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 6.7% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 296,831 shares of the pipeline company’s stock after purchasing an additional 18,590 shares during the period. Enbridge accounts for approximately 0.8% of Tectonic Advisors LLC’s investment portfolio, making the stock its 22nd biggest position. Tectonic Advisors LLC’s holdings in Enbridge were worth $13,452,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. Capital Investment Counsel Inc lifted its position in shares of Enbridge by 3.1% during the 1st quarter. Capital Investment Counsel Inc now owns 7,527 shares of the pipeline company’s stock worth $333,000 after buying an additional 223 shares in the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors lifted its position in shares of Enbridge by 0.7% during 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 buying an additional 226 shares in the last quarter. Loudon Investment Management LLC lifted its position in shares of Enbridge by 1.1% during the 1st quarter. Loudon Investment Management LLC now owns 21,201 shares of the pipeline company’s stock worth $939,000 after buying an additional 240 shares in the last quarter. Key Client Fiduciary Advisors LLC lifted its position in shares of Enbridge by 1.7% during the 2nd quarter. Key Client Fiduciary Advisors LLC now owns 14,606 shares of the pipeline company’s stock worth $662,000 after buying an additional 242 shares in the last quarter. Finally, Sound View Wealth Advisors Group LLC lifted its position in shares of Enbridge by 4.8% during the 1st quarter. Sound View Wealth Advisors Group LLC now owns 5,304 shares of the pipeline company’s stock worth $235,000 after buying an additional 243 shares in the last quarter. 54.60% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have commented on ENB. Wall Street Zen cut shares of Enbridge from a “hold” rating to a “sell” rating in a research report on Sunday, September 21st. Weiss Ratings reissued a “buy (b)” rating on shares of Enbridge in a research report on Wednesday. Zacks Research cut shares of Enbridge from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 17th. Jefferies Financial Group raised shares of Enbridge from a “hold” rating to a “buy” rating in a research report on Wednesday, July 23rd. Finally, Argus lifted their price target on shares of Enbridge from $50.00 to $54.00 and gave the stock a “buy” rating in a report on Tuesday, August 12th. Seven analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $60.50.

Enbridge Trading Down 0.8%

NYSE:ENB opened at $49.05 on Thursday. The firm’s 50 day moving average is $48.33 and its 200 day moving average is $46.20. The company has a current ratio of 0.75, a quick ratio of 0.65 and a debt-to-equity ratio of 1.58. Enbridge Inc has a 12 month low of $39.73 and a 12 month high of $50.54. The stock has a market capitalization of $106.97 billion, a PE 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 earnings results on Friday, August 1st. The pipeline company reported $0.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.06. Enbridge had a net margin of 10.11% and a return on equity of 10.77%. The business had revenue of $7.14 billion for the quarter, compared to analysts’ expectations of $10.56 billion. During the same quarter in the previous year, the firm posted $0.58 EPS. Sell-side analysts expect that Enbridge Inc will post 2.14 earnings per share for the current year.

Enbridge Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 1st. Shareholders of record on Friday, August 15th were issued a dividend of $0.6839 per share. This represents a $2.74 dividend on an annualized basis and a yield of 5.6%. The ex-dividend date of this dividend was Friday, August 15th. This is a positive change from Enbridge’s previous quarterly dividend of $0.68. Enbridge’s payout ratio is presently 134.98%.

About Enbridge

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.