Louisbourg Investments Inc. Trims Stock Holdings in Enbridge Inc $ENB

Louisbourg Investments Inc. lessened its position in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 3.5% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 15,208 shares of the pipeline company’s stock after selling 553 shares during the period. Louisbourg Investments Inc.’s holdings in Enbridge were worth $688,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the company. PDS Planning Inc lifted its holdings in Enbridge by 18.6% during the 2nd quarter. PDS Planning Inc now owns 8,866 shares of the pipeline company’s stock worth $402,000 after buying an additional 1,391 shares during the last quarter. Blue Trust Inc. lifted its holdings in Enbridge by 12.0% during the 2nd quarter. Blue Trust Inc. now owns 16,969 shares of the pipeline company’s stock worth $769,000 after buying an additional 1,816 shares during the last quarter. Cyndeo Wealth Partners LLC bought a new position in Enbridge during the 2nd quarter worth approximately $361,000. M. Kraus & Co lifted its holdings in Enbridge by 1.2% during the 2nd quarter. M. Kraus & Co now owns 144,259 shares of the pipeline company’s stock worth $6,538,000 after buying an additional 1,675 shares during the last quarter. Finally, IFP Advisors Inc lifted its holdings in Enbridge by 1.2% during the 2nd quarter. IFP Advisors Inc now owns 18,217 shares of the pipeline company’s stock worth $826,000 after buying an additional 221 shares during the last quarter. Institutional investors own 54.60% of the company’s stock.

Enbridge Trading Down 0.7%

Shares of NYSE ENB opened at $47.67 on Friday. Enbridge Inc has a 12-month low of $39.73 and a 12-month high of $50.54. The company has a current ratio of 0.75, a quick ratio of 0.65 and a debt-to-equity ratio of 1.58. The company has a market cap of $103.96 billion, a price-to-earnings ratio of 23.48, a price-to-earnings-growth ratio of 4.39 and a beta of 0.78. The stock’s 50 day simple moving average is $48.41 and its 200 day simple moving average is $46.25.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its 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 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 last year, the firm earned $0.58 EPS. Equities research analysts expect that Enbridge Inc will post 2.14 EPS for the current year.

Enbridge Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 1st. Investors of record on Friday, August 15th were given a $0.6839 dividend. The ex-dividend date was Friday, August 15th. This represents a $2.74 annualized dividend and a yield of 5.7%. This is an increase from Enbridge’s previous quarterly dividend of $0.68. Enbridge’s payout ratio is 134.98%.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. CIBC downgraded Enbridge from an “outperform” rating to a “neutral” rating in a report on Thursday. Jefferies Financial Group raised Enbridge from a “hold” rating to a “buy” rating in a report on Wednesday, July 23rd. Wall Street Zen downgraded Enbridge from a “hold” rating to a “sell” rating in a report on Sunday, September 21st. National Bankshares reissued a “sector perform” rating on shares of Enbridge in a report on Tuesday, August 5th. Finally, Zacks Research downgraded Enbridge from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 17th. Six research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus 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.