Enbridge Inc $ENB Stake Boosted by River Street Advisors LLC

River Street Advisors LLC increased its stake in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 3.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 22,616 shares of the pipeline company’s stock after purchasing an additional 767 shares during the period. River Street Advisors LLC’s holdings in Enbridge were worth $1,025,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Enbridge by 6.1% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 438,557 shares of the pipeline company’s stock valued at $19,431,000 after acquiring an additional 25,071 shares during the period. Hartline Investment Corp boosted its stake in 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 purchasing an additional 8,610 shares during the period. Loudon Investment Management LLC boosted its stake in Enbridge by 40.6% during the 2nd quarter. Loudon Investment Management LLC now owns 29,801 shares of the pipeline company’s stock valued at $1,351,000 after purchasing an additional 8,600 shares during the period. JBR Co Financial Management Inc bought a new position in Enbridge in the 1st quarter worth about $330,000. Finally, Raymond James Financial Inc. increased its stake in shares of Enbridge by 0.8% in the first quarter. Raymond James Financial Inc. now owns 4,299,977 shares of the pipeline company’s stock valued at $190,532,000 after purchasing an additional 35,515 shares during the period. Institutional investors and hedge funds own 54.60% of the company’s stock.

Enbridge Stock Performance

ENB opened at $49.69 on Friday. The business has a 50 day moving average price of $47.96 and a two-hundred day moving average price of $46.04. The company has a debt-to-equity ratio of 1.58, a current ratio of 0.75 and a quick ratio of 0.65. The company has a market capitalization of $108.35 billion, a price-to-earnings ratio of 24.48, a price-to-earnings-growth ratio of 4.54 and a beta of 0.78. Enbridge Inc has a 1-year low of $39.73 and a 1-year high of $50.54.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings data on Friday, August 1st. The pipeline company reported $0.47 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.06. The company had revenue of $7.14 billion for the quarter, compared to the consensus estimate 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 previous year, the business earned $0.58 EPS. Research analysts predict that Enbridge Inc will post 2.14 EPS for the current fiscal year.

Enbridge Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 1st. Shareholders of record on Friday, August 15th were given a $0.6839 dividend. This represents a $2.74 annualized dividend and a yield of 5.5%. This is a boost from Enbridge’s previous quarterly dividend of $0.68. The ex-dividend date was Friday, August 15th. Enbridge’s dividend payout ratio (DPR) is presently 134.98%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Zacks Research downgraded Enbridge from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 17th. Argus lifted 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. Wall Street Zen lowered Enbridge from a “hold” rating to a “sell” rating in a research report on Sunday, September 21st. National Bankshares reissued a “sector perform” rating on shares of Enbridge in a report on Tuesday, August 5th. Finally, Jefferies Financial Group upgraded shares of Enbridge from a “hold” rating to a “buy” rating in a research note on Wednesday, July 23rd. Six research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $60.50.

Enbridge Company 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.