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

OLD Second National Bank of Aurora cut its holdings in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 1.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 47,276 shares of the pipeline company’s stock after selling 936 shares during the period. OLD Second National Bank of Aurora’s holdings in Enbridge were worth $2,143,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. Vanguard Group Inc. lifted its position in shares of Enbridge by 1.7% during the first quarter. Vanguard Group Inc. now owns 93,187,025 shares of the pipeline company’s stock worth $4,124,271,000 after acquiring an additional 1,569,879 shares in the last quarter. GQG Partners LLC lifted its holdings in Enbridge by 1.5% during the 1st quarter. GQG Partners LLC now owns 75,439,320 shares of the pipeline company’s stock worth $3,338,405,000 after purchasing an additional 1,148,580 shares in the last quarter. TD Asset Management Inc boosted its stake in Enbridge by 1.3% in the 1st quarter. TD Asset Management Inc now owns 39,265,817 shares of the pipeline company’s stock worth $1,737,602,000 after purchasing an additional 513,058 shares during the period. Goldman Sachs Group Inc. grew its holdings in Enbridge by 137.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 32,907,433 shares of the pipeline company’s stock valued at $1,458,128,000 after buying an additional 19,074,827 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its position in shares of Enbridge by 10.5% during the first quarter. JPMorgan Chase & Co. now owns 17,643,681 shares of the pipeline company’s stock valued at $781,792,000 after buying an additional 1,680,116 shares during the period. 54.60% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ENB has been the subject of a number of analyst reports. National Bankshares restated a “sector perform” rating on shares of Enbridge in a research report on Tuesday, August 5th. Argus boosted their price target on shares of Enbridge from $50.00 to $54.00 and gave the company a “buy” rating in a research report on Tuesday, August 12th. Zacks Research cut shares of Enbridge from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 17th. Jefferies Financial Group raised Enbridge from a “hold” rating to a “buy” rating in a research note on Wednesday, July 23rd. Finally, Wall Street Zen lowered Enbridge from a “hold” rating to a “sell” rating in a research note on Sunday, September 21st. Six equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Enbridge currently has a consensus rating of “Moderate Buy” and an average target price of $60.50.

Enbridge Stock Performance

NYSE ENB opened at $49.69 on Friday. The company 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 debt-to-equity ratio of 1.58, a quick ratio of 0.65 and a current ratio of 0.75. Enbridge Inc has a 52-week low of $39.73 and a 52-week high of $50.54. The company has a fifty day moving average of $47.96 and a 200-day moving average of $46.04.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings results on Friday, August 1st. The pipeline company reported $0.47 earnings per share for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $10.56 billion. During the same quarter last year, the business posted $0.58 earnings per share. As a group, equities research analysts predict that Enbridge Inc will post 2.14 EPS for the current fiscal year.

Enbridge Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 1st. Shareholders of record on Friday, August 15th were paid a $0.6839 dividend. This is an increase from Enbridge’s previous quarterly dividend of $0.68. This represents a $2.74 annualized dividend and a yield of 5.5%. The ex-dividend date of this dividend was Friday, August 15th. Enbridge’s payout ratio 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.