Chickasaw Capital Management LLC Acquires 2,469 Shares of Enbridge Inc $ENB

Chickasaw Capital Management LLC grew its holdings in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 1.5% during the second quarter, Holdings Channel.com reports. The institutional investor owned 172,353 shares of the pipeline company’s stock after purchasing an additional 2,469 shares during the quarter. Enbridge accounts for approximately 0.3% of Chickasaw Capital Management LLC’s investment portfolio, making the stock its 24th biggest holding. Chickasaw Capital Management LLC’s holdings in Enbridge were worth $7,811,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Dagco Inc. bought a new position in shares of Enbridge during the 1st quarter worth approximately $25,000. Garde Capital Inc. bought a new position in shares of Enbridge in the 1st quarter worth $26,000. Financial Gravity Asset Management Inc. bought a new position in shares of Enbridge in the 1st quarter worth $28,000. Accent Capital Management LLC bought a new position in shares of Enbridge in the 1st quarter worth $30,000. Finally, Wolff Wiese Magana LLC lifted its holdings in shares of Enbridge by 91.3% in the 1st quarter. Wolff Wiese Magana LLC now owns 765 shares of the pipeline company’s stock worth $34,000 after purchasing an additional 365 shares in the last quarter. 54.60% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

ENB has been the topic of a number of recent research reports. National Bankshares reiterated a “sector perform” rating on shares of Enbridge in a report on Tuesday, August 5th. Jefferies Financial Group upgraded Enbridge from a “hold” rating to a “buy” rating in a report on Wednesday, July 23rd. Wall Street Zen upgraded Enbridge from a “sell” rating to a “hold” rating in a report on Saturday, September 13th. Argus increased their target price on Enbridge from $50.00 to $54.00 and gave the stock a “buy” rating in a report on Tuesday, August 12th. Finally, Zacks Research upgraded Enbridge from a “hold” rating to a “strong-buy” rating in a report on Friday, August 15th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $60.50.

Enbridge Trading Up 0.4%

Shares of Enbridge stock opened at $49.08 on Thursday. The stock has a fifty day moving average price of $46.94 and a 200-day moving average price of $45.50. Enbridge Inc has a 1 year low of $39.73 and a 1 year high of $49.36. The firm has a market cap of $107.03 billion, a PE ratio of 24.18, a P/E/G ratio of 4.47 and a beta of 0.80. 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 (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings data 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 return on equity of 10.77% and a net margin of 10.11%.The company had revenue of $7.14 billion during the quarter, compared to analyst estimates of $10.56 billion. During the same quarter last year, the firm posted $0.58 EPS. Equities research analysts anticipate that Enbridge Inc will post 2.14 EPS for the current year.

Enbridge Increases Dividend

The company also recently disclosed 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 an increase from Enbridge’s previous quarterly dividend of $0.68. The ex-dividend date of this dividend was Friday, August 15th. This represents a $2.74 annualized dividend and a yield of 5.6%. Enbridge’s payout ratio is 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.