OLD Second National Bank of Aurora Sells 38,189 Shares of Enbridge Inc $ENB

OLD Second National Bank of Aurora reduced its stake in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 81.2% in the second quarter, according to its most recent filing with the SEC. The fund owned 8,832 shares of the pipeline company’s stock after selling 38,189 shares during the period. OLD Second National Bank of Aurora’s holdings in Enbridge were worth $479,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in Enbridge by 2.1% in the fourth quarter. Vanguard Group Inc. now owns 100,364,993 shares of the pipeline company’s stock valued at $4,802,766,000 after acquiring an additional 2,067,516 shares during the last quarter. Norges Bank purchased a new stake in Enbridge during the fourth quarter valued at about $1,195,559,000. Geode Capital Management LLC lifted its stake in Enbridge by 7.1% during the fourth quarter. Geode Capital Management LLC now owns 21,421,826 shares of the pipeline company’s stock worth $1,045,172,000 after purchasing an additional 1,415,995 shares during the last quarter. Legal & General Group Plc lifted its stake in Enbridge by 4.6% during the fourth quarter. Legal & General Group Plc now owns 19,677,864 shares of the pipeline company’s stock worth $942,806,000 after purchasing an additional 858,323 shares during the last quarter. Finally, Mackenzie Financial Corp boosted its holdings in shares of Enbridge by 4.9% in the 4th quarter. Mackenzie Financial Corp now owns 18,163,267 shares of the pipeline company’s stock worth $870,577,000 after purchasing an additional 844,594 shares in the last quarter. 54.60% of the stock is owned by institutional investors.

Analysts Set New Price Targets

ENB has been the topic of several recent research reports. Weiss Ratings reiterated a “buy (b)” rating on shares of Enbridge in a research report on Friday, May 22nd. TD Securities reaffirmed a “hold” rating on shares of Enbridge in a research note on Thursday, July 16th. Royal Bank Of Canada increased their price target on shares of 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 reissued a “market perform” rating on shares of Enbridge in a research note on Monday, August 3rd. Finally, Wolfe Research set a $50.00 price objective on shares of Enbridge in a report on Tuesday, August 4th. Four investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat, Enbridge presently has an average rating of “Hold” and a consensus price target of $67.00.

Enbridge Trading Down 0.3%

Shares of ENB stock opened at $51.30 on Friday. The stock has a market capitalization of $112.03 billion, a PE ratio of 27.43 and a beta of 0.58. Enbridge Inc has a 1-year low of $45.03 and a 1-year high of $58.45. The business has a 50-day moving average of $54.77 and a 200 day moving average of $53.93. The company has a debt-to-equity ratio of 1.69, a current ratio of 0.72 and a quick ratio of 0.66.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings results on Friday, July 31st. The pipeline company reported $0.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.03. The business had revenue of $9.70 billion for the quarter, compared to analyst estimates of $8.67 billion. Enbridge had a return on equity of 11.17% and a net margin of 7.20%.During the same period last year, the company earned $0.65 EPS. As a group, sell-side analysts anticipate that Enbridge Inc will post 2.11 earnings per share for the current year.

Enbridge Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Friday, August 14th will be issued a $0.97 dividend. The ex-dividend date is Friday, August 14th. This represents a $3.88 annualized dividend and a dividend yield of 7.6%. Enbridge’s dividend payout ratio (DPR) is currently 152.41%.

Enbridge Company Profile

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.