Folger Nolan Fleming Douglas Capital Management Inc. Cuts Stake in Enbridge Inc $ENB

Folger Nolan Fleming Douglas Capital Management Inc. reduced its stake in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 1.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 18,517 shares of the pipeline company’s stock after selling 321 shares during the period. Folger Nolan Fleming Douglas Capital Management Inc.’s holdings in Enbridge were worth $838,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Brighton Jones LLC purchased a new stake in shares of Enbridge during the fourth quarter valued at $261,000. GAMMA Investing LLC boosted its position in Enbridge by 4,331.0% in the first quarter. GAMMA Investing LLC now owns 31,593 shares of the pipeline company’s stock worth $1,400,000 after purchasing an additional 30,880 shares during the last quarter. Farther Finance Advisors LLC boosted its position in Enbridge by 64.6% in the first quarter. Farther Finance Advisors LLC now owns 20,355 shares of the pipeline company’s stock worth $907,000 after purchasing an additional 7,992 shares during the last quarter. Assenagon Asset Management S.A. boosted its position in Enbridge by 0.4% in the first quarter. Assenagon Asset Management S.A. now owns 75,420 shares of the pipeline company’s stock worth $3,337,000 after purchasing an additional 320 shares during the last quarter. Finally, CX Institutional purchased a new position in Enbridge in the first quarter worth about $85,000. 54.60% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ENB has been the topic of several research reports. Zacks Research cut Enbridge from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 17th. National Bankshares reissued a “sector perform” rating on shares of Enbridge in a research report on Tuesday, August 5th. Cibc World Mkts cut Enbridge from a “strong-buy” rating to a “hold” rating in a research report on Thursday. CIBC downgraded Enbridge from an “outperform” rating to a “neutral” rating in a research note on Thursday. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Enbridge in a research note on Wednesday. Six investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $60.50.

Enbridge Stock Down 0.7%

NYSE ENB opened at $47.67 on Friday. The stock’s 50-day moving average price is $48.41 and its 200-day moving average price is $46.25. 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 Inc has a 52 week low of $39.73 and a 52 week high of $50.54. The company has a market capitalization of $103.96 billion, a P/E ratio of 23.48, a price-to-earnings-growth ratio of 4.39 and a beta of 0.78.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its earnings results on Friday, August 1st. The pipeline company reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate 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 last year, the company earned $0.58 EPS. On average, equities research analysts predict that Enbridge Inc will post 2.14 earnings per share for the current year.

Enbridge Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 1st. Investors of record on Friday, August 15th were paid a dividend of $0.6839 per share. This is a boost 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 5.7%. Enbridge’s dividend 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.