River Street Advisors LLC Raises Stock Position in Enbridge Inc $ENB

River Street Advisors LLC grew its holdings in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 3.5% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 22,616 shares of the pipeline company’s stock after acquiring an additional 767 shares during the period. River Street Advisors LLC’s holdings in Enbridge were worth $1,025,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ENB. Dagco Inc. purchased a new stake in shares of Enbridge during the first quarter valued at approximately $25,000. Garde Capital Inc. purchased a new position in shares of Enbridge in the first quarter valued at $26,000. Financial Gravity Asset Management Inc. acquired a new stake in Enbridge during the 1st quarter valued at $28,000. Accent Capital Management LLC purchased a new stake in Enbridge during the 1st quarter worth $30,000. Finally, Wolff Wiese Magana LLC lifted its holdings in Enbridge by 91.3% in the 1st quarter. Wolff Wiese Magana LLC now owns 765 shares of the pipeline company’s stock worth $34,000 after buying an additional 365 shares in the last quarter. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Enbridge Trading Up 0.2%

NYSE:ENB opened at $49.69 on Friday. The company has a market cap of $108.35 billion, a PE ratio of 24.48, a P/E/G ratio of 4.54 and a beta of 0.78. The business’s 50 day moving average is $47.96 and its two-hundred day moving average is $46.04. 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.

Enbridge (NYSE:ENB) (TSE:ENB) last issued 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 during the quarter, compared to the consensus estimate of $10.56 billion. During the same period in the previous year, the business earned $0.58 EPS. On average, analysts predict that Enbridge Inc will post 2.14 EPS for the current year.

Enbridge Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 1st. Stockholders of record on Friday, August 15th were given a $0.6839 dividend. This represents a $2.74 dividend on an annualized basis and a dividend yield of 5.5%. The ex-dividend date was Friday, August 15th. This is an increase from Enbridge’s previous quarterly dividend of $0.68. Enbridge’s payout ratio is 134.98%.

Analyst Upgrades and Downgrades

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

Enbridge Company 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.