117,292 Shares in Enbridge Inc $ENB Bought by MidFirst Bank

MidFirst Bank bought a new stake in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 117,292 shares of the pipeline company’s stock, valued at approximately $6,358,000.

Other hedge funds also recently added to or reduced their stakes in the company. Triumph Capital Management acquired a new stake in Enbridge during the 3rd quarter worth about $26,000. Arlington Trust Co LLC lifted its holdings in shares of Enbridge by 114.6% in the 2nd quarter. Arlington Trust Co LLC now owns 500 shares of the pipeline company’s stock valued at $27,000 after buying an additional 267 shares during the period. Turning Point Benefit Group Inc. purchased a new stake in shares of Enbridge in the third quarter worth about $28,000. Inspire Investing LLC purchased a new stake in shares of Enbridge in the fourth quarter worth about $29,000. Finally, Garner Asset Management Corp acquired a new stake in Enbridge during the fourth quarter worth about $30,000. 54.60% of the stock is owned by hedge funds and other institutional investors.

Enbridge Stock Down 0.5%

Shares of ENB opened at $50.63 on Tuesday. The company has a current ratio of 0.72, a quick ratio of 0.66 and a debt-to-equity ratio of 1.69. Enbridge Inc has a 12 month low of $45.03 and a 12 month high of $58.45. The stock’s 50 day moving average is $54.57 and its two-hundred day moving average is $53.97. The firm has a market cap of $110.58 billion, a P/E ratio of 27.07 and a beta of 0.58.

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

Enbridge Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Friday, August 14th will be issued a $0.97 dividend. This represents a $3.88 annualized dividend and a yield of 7.7%. The ex-dividend date of this dividend is Friday, August 14th. Enbridge’s payout ratio is presently 147.06%.

Analyst Ratings Changes

Several research analysts recently weighed in on ENB shares. Royal Bank Of Canada lifted their price target on Enbridge from $79.00 to $84.00 and gave the company an “outperform” rating in a research report on Monday, August 3rd. BMO Capital Markets restated a “market perform” rating on shares of Enbridge in a research report on Monday, August 3rd. Raymond James Financial cut shares of Enbridge from an “outperform” rating to a “market perform” rating in a research note on Friday, July 31st. Canadian Imperial Bank of Commerce reaffirmed a “neutral” rating on shares of Enbridge in a report on Monday, May 11th. Finally, Scotiabank reiterated an “outperform” rating on shares of Enbridge in a research note on Tuesday, July 21st. Four analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, Enbridge presently has a consensus rating of “Hold” and an average price target of $67.00.

About Enbridge

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.