Freestone Capital Holdings LLC Increases Holdings in Enbridge Inc $ENB

Freestone Capital Holdings LLC lifted its position in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 9.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,031 shares of the pipeline company’s stock after buying an additional 998 shares during the period. Freestone Capital Holdings LLC’s holdings in Enbridge were worth $489,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Enbridge by 6.1% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 438,557 shares of the pipeline company’s stock valued at $19,431,000 after buying an additional 25,071 shares in the last quarter. Hartline Investment Corp raised its holdings in shares of Enbridge by 31.3% during the 1st quarter. Hartline Investment Corp now owns 36,098 shares of the pipeline company’s stock valued at $1,600,000 after buying an additional 8,610 shares in the last quarter. Wellington Management Group LLP raised its holdings in shares of Enbridge by 0.7% during the 4th quarter. Wellington Management Group LLP now owns 1,150,521 shares of the pipeline company’s stock valued at $48,806,000 after buying an additional 7,890 shares in the last quarter. JBR Co Financial Management Inc bought a new stake in shares of Enbridge in the 1st quarter valued at about $330,000. Finally, Good Steward Wealth Advisors LLC bought a new stake in shares of Enbridge in the 1st quarter valued at about $637,000. 54.60% of the stock is owned by hedge funds and other institutional investors.

Enbridge Trading Down 0.7%

ENB opened at $46.71 on Tuesday. The business has a 50 day simple moving average of $45.57 and a two-hundred day simple moving average of $44.76. The firm has a market capitalization of $101.85 billion, a price-to-earnings ratio of 23.01, a PEG ratio of 4.30 and a beta of 0.79. The company has a debt-to-equity ratio of 1.58, a current ratio of 0.75 and a quick ratio of 0.65. Enbridge Inc has a one year low of $38.70 and a one year high of $48.21.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings results on Friday, August 1st. The pipeline company reported $0.47 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.06. The business had revenue of $7.14 billion during the quarter, compared to analyst estimates 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 prior year, the company posted $0.58 EPS. Analysts predict that Enbridge Inc will post 2.14 EPS for the current year.

Enbridge Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 1st. Shareholders of record on Friday, August 15th will be issued a dividend of $0.6839 per share. This is a positive change from Enbridge’s previous quarterly dividend of $0.68. The ex-dividend date is Friday, August 15th. This represents a $2.74 dividend on an annualized basis and a dividend yield of 5.9%. Enbridge’s dividend payout ratio (DPR) is currently 134.98%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on ENB shares. Raymond James Financial raised Enbridge to a “moderate buy” rating in a research note on Wednesday, April 23rd. National Bankshares reissued a “sector perform” rating on shares of Enbridge in a research note on Tuesday, August 5th. Wall Street Zen raised Enbridge from a “sell” rating to a “hold” rating in a research note on Thursday, May 22nd. Royal Bank Of Canada reissued an “outperform” rating and issued a $67.00 target price on shares of Enbridge in a research note on Monday, May 12th. Finally, Argus boosted their target price on Enbridge from $50.00 to $54.00 and gave the company a “buy” rating in a research note on Tuesday, August 12th. Five research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $60.50.

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.