OLD Second National Bank of Aurora Sells 936 Shares of Enbridge Inc $ENB

OLD Second National Bank of Aurora reduced its stake in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 1.9% during the second quarter, Holdings Channel reports. The institutional investor owned 47,276 shares of the pipeline company’s stock after selling 936 shares during the quarter. OLD Second National Bank of Aurora’s holdings in Enbridge were worth $2,143,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Capital Investment Counsel Inc lifted its position in Enbridge by 3.1% in the first quarter. Capital Investment Counsel Inc now owns 7,527 shares of the pipeline company’s stock valued at $333,000 after purchasing an additional 223 shares during the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors increased its stake in shares of Enbridge by 0.7% in the first quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 34,326 shares of the pipeline company’s stock worth $1,526,000 after buying an additional 226 shares during the period. Loudon Investment Management LLC raised its holdings in Enbridge by 1.1% during the 1st quarter. Loudon Investment Management LLC now owns 21,201 shares of the pipeline company’s stock valued at $939,000 after buying an additional 240 shares during the last quarter. Key Client Fiduciary Advisors LLC boosted its position in Enbridge by 1.7% during the 2nd quarter. Key Client Fiduciary Advisors LLC now owns 14,606 shares of the pipeline company’s stock valued at $662,000 after buying an additional 242 shares during the period. Finally, Sound View Wealth Advisors Group LLC boosted its position in Enbridge by 4.8% during the 1st quarter. Sound View Wealth Advisors Group LLC now owns 5,304 shares of the pipeline company’s stock valued at $235,000 after buying an additional 243 shares during the period. Institutional investors own 54.60% of the company’s stock.

Enbridge Stock Performance

Shares of Enbridge stock opened at $49.69 on Friday. Enbridge Inc has a 12 month low of $39.73 and a 12 month high of $50.54. The firm has a market capitalization of $108.35 billion, a P/E ratio of 24.48, a P/E/G ratio of 4.54 and a beta of 0.78. The company has a current ratio of 0.75, a quick ratio of 0.65 and a debt-to-equity ratio of 1.58. The business has a fifty day simple moving average of $47.96 and a two-hundred day simple moving average of $46.04.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings results on Friday, August 1st. The pipeline company reported $0.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.06. Enbridge had a net margin of 10.11% and a return on equity of 10.77%. The company had revenue of $7.14 billion during the quarter, compared to analyst estimates of $10.56 billion. During the same period last year, the business earned $0.58 EPS. On average, equities analysts forecast that Enbridge Inc will post 2.14 earnings per share for the current fiscal year.

Enbridge Increases Dividend

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

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. National Bankshares reaffirmed a “sector perform” rating on shares of Enbridge in a research note on Tuesday, August 5th. Argus increased their price objective on Enbridge from $50.00 to $54.00 and gave the stock a “buy” rating in a report on Tuesday, August 12th. Wall Street Zen cut Enbridge from a “hold” rating to a “sell” rating in a research note on Sunday, September 21st. Jefferies Financial Group raised Enbridge from a “hold” rating to a “buy” rating in a research note on Wednesday, July 23rd. Finally, Zacks Research cut shares of Enbridge from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 17th. Six investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently 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.