Enbridge Inc $ENB Shares Sold by Adams Asset Advisors LLC

Adams Asset Advisors LLC reduced its position in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 3.5% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 46,445 shares of the pipeline company’s stock after selling 1,697 shares during the quarter. Adams Asset Advisors LLC’s holdings in Enbridge were worth $2,105,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Capital Investment Counsel Inc lifted its stake in shares of Enbridge by 3.1% in the 1st quarter. Capital Investment Counsel Inc now owns 7,527 shares of the pipeline company’s stock valued at $333,000 after purchasing an additional 223 shares in the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors lifted its position in Enbridge by 0.7% during the 1st quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 34,326 shares of the pipeline company’s stock worth $1,526,000 after acquiring an additional 226 shares in the last quarter. Loudon Investment Management LLC lifted its position in Enbridge by 1.1% during the 1st quarter. Loudon Investment Management LLC now owns 21,201 shares of the pipeline company’s stock worth $939,000 after acquiring an additional 240 shares in the last quarter. Sound View Wealth Advisors Group LLC lifted its position in Enbridge by 4.8% during the 1st quarter. Sound View Wealth Advisors Group LLC now owns 5,304 shares of the pipeline company’s stock worth $235,000 after acquiring an additional 243 shares in the last quarter. Finally, Hardin Capital Partners LLC lifted its position in Enbridge by 2.7% during the 1st quarter. Hardin Capital Partners LLC now owns 9,553 shares of the pipeline company’s stock worth $423,000 after acquiring an additional 252 shares in the last quarter. 54.60% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Jefferies Financial Group raised Enbridge from a “hold” rating to a “buy” rating in a research report on Wednesday, July 23rd. Wall Street Zen raised Enbridge from a “sell” rating to a “hold” rating in a research report on Saturday. Zacks Research raised Enbridge from a “hold” rating to a “strong-buy” rating in a research report on Friday, August 15th. National Bankshares reissued a “sector perform” rating on shares of Enbridge in a research report on Tuesday, August 5th. Finally, Argus lifted their price objective on Enbridge from $50.00 to $54.00 and gave the stock a “buy” rating in a report on Tuesday, August 12th. One investment 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 stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $60.50.

Enbridge Price Performance

ENB stock opened at $49.11 on Monday. 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 $49.11. The stock’s 50 day moving average is $46.65 and its two-hundred day moving average is $45.41. The company has a market capitalization of $107.10 billion, a PE ratio of 24.19, a P/E/G ratio of 4.49 and a beta of 0.80.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings data on Friday, August 1st. The pipeline company reported $0.47 earnings per share (EPS) for the quarter, topping 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 period in the previous year, the business earned $0.58 EPS. Analysts predict that Enbridge Inc will post 2.14 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The company also recently announced 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 annualized dividend and a dividend yield of 5.6%. The ex-dividend date was Friday, August 15th. This is a positive change from Enbridge’s previous quarterly dividend of $0.68. Enbridge’s payout ratio is 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.