111 Capital Acquires Shares of 41,591 Enbridge Inc $ENB

111 Capital acquired a new stake in Enbridge Inc (NYSE:ENB) (TSE:ENB) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 41,591 shares of the pipeline company’s stock, valued at approximately $1,887,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC boosted its position in Enbridge by 6.1% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 438,557 shares of the pipeline company’s stock valued at $19,431,000 after buying an additional 25,071 shares during the last quarter. Loudon Investment Management LLC boosted its position in Enbridge by 40.6% in the 2nd quarter. Loudon Investment Management LLC now owns 29,801 shares of the pipeline company’s stock valued at $1,351,000 after buying an additional 8,600 shares during the last quarter. Hartline Investment Corp boosted its position in Enbridge by 31.3% in the 1st quarter. Hartline Investment Corp now owns 36,098 shares of the pipeline company’s stock valued at $1,600,000 after buying an additional 8,610 shares during the last quarter. JBR Co Financial Management Inc bought a new position in shares of Enbridge during the first quarter worth about $330,000. Finally, Raymond James Financial Inc. grew its stake in Enbridge by 0.8% in the first quarter. Raymond James Financial Inc. now owns 4,299,977 shares of the pipeline company’s stock worth $190,532,000 after purchasing an additional 35,515 shares in the last quarter. 54.60% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Wall Street Zen lowered Enbridge from a “hold” rating to a “sell” rating in a report on Sunday, September 21st. Zacks Research lowered Enbridge from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 17th. Weiss Ratings reissued a “buy (b)” rating on shares of Enbridge in a report on Saturday, September 27th. Jefferies Financial Group raised Enbridge from a “hold” rating to a “buy” rating in a report on Wednesday, July 23rd. Finally, National Bankshares reissued a “sector perform” rating on shares of Enbridge in a report on Tuesday, August 5th. Seven research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $60.50.

Enbridge Price Performance

ENB opened at $50.11 on Friday. The firm has a market cap of $109.27 billion, a price-to-earnings ratio of 24.68, a price-to-earnings-growth ratio of 4.55 and a beta of 0.78. Enbridge Inc has a fifty-two week low of $39.73 and a fifty-two week high of $50.54. The company’s 50-day moving average price is $48.06 and its 200 day moving average price is $46.09. 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 released its quarterly earnings data on Friday, August 1st. The pipeline company reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.06. The firm had revenue of $7.14 billion for the quarter, compared to analyst estimates of $10.56 billion. Enbridge had a net margin of 10.11% and a return on equity of 10.77%. During the same quarter in the prior year, the business earned $0.58 earnings per share. As a group, sell-side analysts expect that Enbridge Inc will post 2.14 earnings per share for the current year.

Enbridge Increases Dividend

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