NBH Bank Buys New Holdings in Enbridge Inc $ENB

NBH Bank purchased a new position in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 11,004 shares of the pipeline company’s stock, valued at approximately $597,000.

A number of other institutional investors have also recently bought and sold shares of ENB. Retirement Planning Group LLC boosted its stake in shares of Enbridge by 3.6% during the 1st quarter. Retirement Planning Group LLC now owns 5,357 shares of the pipeline company’s stock worth $290,000 after acquiring an additional 187 shares during the period. Bank & Trust Co increased its holdings in shares of Enbridge by 0.6% during the 2nd quarter. Bank & Trust Co now owns 33,276 shares of the pipeline company’s stock worth $1,804,000 after acquiring an additional 193 shares during the last quarter. Cornerstone Wealth Management LLC raised its stake in Enbridge by 0.6% in the 2nd quarter. Cornerstone Wealth Management LLC now owns 31,543 shares of the pipeline company’s stock valued at $1,710,000 after acquiring an additional 194 shares during the period. PFG Investments LLC raised its stake in Enbridge by 0.9% in the 1st quarter. PFG Investments LLC now owns 22,208 shares of the pipeline company’s stock valued at $1,202,000 after acquiring an additional 202 shares during the period. Finally, MIdWestOne Financial Group Inc. raised its stake in Enbridge by 4.3% in the 4th quarter. MIdWestOne Financial Group Inc. now owns 4,906 shares of the pipeline company’s stock valued at $235,000 after acquiring an additional 203 shares during the period. Institutional investors and hedge funds own 54.60% of the company’s stock.

Enbridge Stock Down 0.8%

ENB opened at $50.14 on Friday. The stock has a fifty day moving average of $53.12 and a 200-day moving average of $53.96. The company has a market capitalization of $109.51 billion, a P/E ratio of 26.81, a P/E/G ratio of 5.94 and a beta of 0.57. Enbridge Inc has a fifty-two week low of $45.03 and a fifty-two week high of $58.45. The company has a debt-to-equity ratio of 1.69, a quick ratio of 0.66 and a current ratio of 0.72.

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

Enbridge Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Friday, August 14th were given a dividend of $0.97 per share. This represents a $3.88 dividend on an annualized basis and a dividend yield of 7.7%. The ex-dividend date was Friday, August 14th. Enbridge’s dividend payout ratio is presently 147.06%.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Enbridge in a research report on Wednesday, August 19th. Scotiabank reissued an “outperform” rating on shares of Enbridge in a research report on Tuesday, July 21st. BMO Capital Markets reaffirmed a “market perform” rating on shares of Enbridge in a report on Monday, August 3rd. Wolfe Research set a $50.00 price target on shares of Enbridge in a research note on Tuesday, August 4th. Finally, Raymond James Financial cut shares of Enbridge from an “outperform” rating to a “market perform” rating in a report on Friday, July 31st. Six analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Enbridge currently has an average rating of “Moderate Buy” and a consensus target price of $67.00.

Enbridge Company Profile

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.