RNC Capital Management LLC Has $63.41 Million Stake in Enbridge Inc $ENB

RNC Capital Management LLC lessened its holdings in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 0.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,430,997 shares of the pipeline company’s stock after selling 1,453 shares during the quarter. Enbridge accounts for approximately 3.2% of RNC Capital Management LLC’s portfolio, making the stock its 7th largest position. RNC Capital Management LLC owned about 0.07% of Enbridge worth $63,407,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. United Services Automobile Association increased its stake in Enbridge by 3.6% during the 1st quarter. United Services Automobile Association now owns 72,910 shares of the pipeline company’s stock valued at $3,243,000 after purchasing an additional 2,539 shares in the last quarter. Sciencast Management LP bought a new stake in shares of Enbridge in the 1st quarter worth $1,650,000. Parkwood LLC grew its stake in shares of Enbridge by 1.0% in the 1st quarter. Parkwood LLC now owns 133,381 shares of the pipeline company’s stock worth $5,910,000 after acquiring an additional 1,313 shares in the last quarter. National Wealth Management Group LLC grew its stake in shares of Enbridge by 3.4% in the 1st quarter. National Wealth Management Group LLC now owns 12,761 shares of the pipeline company’s stock worth $565,000 after acquiring an additional 414 shares in the last quarter. Finally, NewEdge Advisors LLC grew its stake in shares of Enbridge by 4.3% in the 1st quarter. NewEdge Advisors LLC now owns 376,551 shares of the pipeline company’s stock worth $16,685,000 after acquiring an additional 15,659 shares in the last quarter. Institutional investors own 54.60% of the company’s stock.

Enbridge Trading Up 0.3%

Shares of ENB opened at $48.29 on Monday. The business’s 50-day moving average price is $46.28 and its 200-day moving average price is $45.16. Enbridge Inc has a twelve month low of $39.73 and a twelve month high of $48.59. The stock has a market cap of $105.29 billion, a PE ratio of 23.79, a P/E/G ratio of 4.41 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.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings results on Friday, August 1st. The pipeline company reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.06. Enbridge had a return on equity of 10.77% and a net margin of 10.11%.The firm had revenue of $7.14 billion for the quarter, compared to analysts’ expectations of $10.56 billion. During the same period in the prior year, the business posted $0.58 earnings per share. On average, equities analysts forecast that Enbridge Inc will post 2.14 EPS for the current fiscal year.

Enbridge Increases Dividend

The business 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 is a boost from Enbridge’s previous quarterly dividend of $0.68. This represents a $2.74 annualized dividend and a dividend yield of 5.7%. The ex-dividend date was Friday, August 15th. Enbridge’s dividend payout ratio (DPR) is currently 134.98%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on ENB shares. Wall Street Zen lowered shares of Enbridge from a “hold” rating to a “sell” rating in a research note on Saturday, August 30th. National Bankshares reissued a “sector perform” rating on shares of Enbridge in a report on Tuesday, August 5th. BMO Capital Markets reissued a “market perform” rating on shares of Enbridge in a report on Monday, May 12th. Jefferies Financial Group raised shares of Enbridge from a “hold” rating to a “buy” rating in a report on Wednesday, July 23rd. Finally, Royal Bank Of Canada reissued an “outperform” rating and issued a $67.00 price target on shares of Enbridge in a report on Monday, May 12th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $60.50.

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.