New Hampshire Trust Raises Stake in Enbridge Inc $ENB

New Hampshire Trust grew its holdings in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 6.2% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 14,738 shares of the pipeline company’s stock after buying an additional 862 shares during the quarter. New Hampshire Trust’s holdings in Enbridge were worth $668,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in ENB. Dagco Inc. purchased a new stake in shares of Enbridge during the first quarter worth approximately $25,000. Whipplewood Advisors LLC lifted its holdings in Enbridge by 112.4% in the 2nd quarter. Whipplewood Advisors LLC now owns 582 shares of the pipeline company’s stock valued at $26,000 after purchasing an additional 308 shares in the last quarter. Financial Gravity Asset Management Inc. purchased a new position in Enbridge in the 1st quarter valued at $28,000. Accent Capital Management LLC purchased a new position in Enbridge in the 1st quarter valued at $30,000. Finally, FNY Investment Advisers LLC purchased a new position in Enbridge in the 2nd quarter valued at $36,000. 54.60% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on ENB shares. Zacks Research lowered Enbridge from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 17th. Scotiabank restated a “sector perform” rating on shares of Enbridge in a report on Monday, October 20th. Jefferies Financial Group upgraded Enbridge from a “hold” rating to a “buy” rating in a report on Wednesday, July 23rd. Cibc World Mkts cut Enbridge from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 9th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Enbridge in a report on Wednesday, October 8th. Six analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat.com, Enbridge presently has a consensus rating of “Hold” and a consensus target price of $60.50.

Enbridge Stock Performance

Shares of Enbridge stock opened at $46.90 on Friday. Enbridge Inc has a 52 week low of $39.73 and a 52 week high of $50.54. The business’s fifty day simple moving average is $48.44 and its 200-day simple moving average is $46.53. The firm has a market cap of $102.27 billion, a PE ratio of 23.10, a price-to-earnings-growth ratio of 4.32 and a beta of 0.78. The company has a quick ratio of 0.65, a current ratio of 0.75 and a debt-to-equity ratio of 1.58.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings results on Friday, August 1st. The pipeline company reported $0.47 EPS for the quarter, beating 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 business had revenue of $7.14 billion for the quarter, compared to analyst estimates of $10.56 billion. During the same quarter in the prior year, the company posted $0.58 EPS. Equities analysts forecast that Enbridge Inc will post 2.14 earnings per share for the current year.

Enbridge Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 1st. Stockholders of record on Friday, August 15th were issued a $0.6839 dividend. This represents a $2.74 dividend on an annualized basis and a dividend yield of 5.8%. The ex-dividend date was Friday, August 15th. This is an increase from Enbridge’s previous quarterly dividend of $0.68. Enbridge’s dividend payout ratio (DPR) is currently 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.