Stokes Capital Advisors LLC Raises Stock Position in Enbridge Inc $ENB

Stokes Capital Advisors LLC grew its holdings in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 1.4% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 108,093 shares of the pipeline company’s stock after buying an additional 1,533 shares during the period. Stokes Capital Advisors LLC’s holdings in Enbridge were worth $4,899,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of ENB. Goldman Sachs Group Inc. boosted its holdings in shares of 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. Nuveen LLC bought a new stake in shares of Enbridge during the 1st quarter valued at $208,490,000. Canada Pension Plan Investment Board boosted its holdings in shares of Enbridge by 39.7% during the 1st quarter. Canada Pension Plan Investment Board now owns 9,525,987 shares of the pipeline company’s stock valued at $421,675,000 after buying an additional 2,707,068 shares in the last quarter. Maple Brown Abbott Ltd bought a new stake in shares of Enbridge during the 1st quarter valued at $77,976,000. Finally, JPMorgan Chase & Co. boosted its holdings in shares of Enbridge by 10.5% during the 1st 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 in the last quarter. Institutional investors own 54.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on ENB shares. National Bankshares restated a “sector perform” rating on shares of Enbridge in a report on Tuesday, August 5th. Jefferies Financial Group upgraded shares of Enbridge from a “hold” rating to a “buy” rating in a research note on Wednesday, July 23rd. Zacks Research upgraded shares of Enbridge from a “hold” rating to a “strong-buy” rating in a research note on Friday, August 15th. Wall Street Zen upgraded shares of Enbridge from a “sell” rating to a “hold” rating in a research note on Saturday. Finally, Argus upped their price target on shares of Enbridge from $50.00 to $54.00 and gave the stock a “buy” rating in a research note on Tuesday, August 12th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, Enbridge currently has an average rating of “Moderate Buy” and a consensus target price of $60.50.

Enbridge Price Performance

NYSE ENB opened at $48.89 on Wednesday. Enbridge Inc has a 52 week low of $39.73 and a 52 week high of $49.21. The firm has a market capitalization of $106.62 billion, a P/E ratio of 24.08, a PEG ratio of 4.49 and a beta of 0.80. The company has a quick ratio of 0.65, a current ratio of 0.75 and a debt-to-equity ratio of 1.58. The company has a 50-day moving average price of $46.84 and a 200-day moving average price of $45.47.

Enbridge (NYSE:ENB) (TSE:ENB) last released 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 net margin of 10.11% and a return on equity of 10.77%. The firm had revenue of $7.14 billion during the quarter, compared to analyst estimates of $10.56 billion. During the same quarter in the prior year, the firm earned $0.58 EPS. Equities research analysts anticipate that Enbridge Inc will post 2.14 earnings per share 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 dividend of $0.6839 per share. This represents a $2.74 annualized dividend and a dividend yield of 5.6%. The ex-dividend date of this dividend was Friday, August 15th. This is an increase from Enbridge’s previous quarterly dividend of $0.68. Enbridge’s payout ratio is currently 134.98%.

About Enbridge

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.