Johnson Investment Counsel Inc. Lowers Stock Holdings in Enbridge Inc $ENB

Johnson Investment Counsel Inc. decreased its position in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 11.8% during the second quarter, HoldingsChannel reports. The firm owned 48,321 shares of the pipeline company’s stock after selling 6,489 shares during the period. Johnson Investment Counsel Inc.’s holdings in Enbridge were worth $2,190,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in ENB. Dagco Inc. purchased a new stake in Enbridge during the first quarter valued at about $25,000. Garde Capital Inc. purchased a new stake in Enbridge during the first quarter valued at about $26,000. Financial Gravity Asset Management Inc. purchased a new stake in Enbridge during the first quarter valued at about $28,000. Accent Capital Management LLC purchased a new stake in Enbridge during the first quarter valued at about $30,000. Finally, Wolff Wiese Magana LLC raised its position in Enbridge by 91.3% during the first quarter. Wolff Wiese Magana LLC now owns 765 shares of the pipeline company’s stock valued at $34,000 after purchasing an additional 365 shares in the last quarter. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Enbridge Stock Up 0.1%

Shares of NYSE:ENB opened at $47.74 on Tuesday. Enbridge Inc has a 1 year low of $39.73 and a 1 year high of $50.54. The company has a market cap of $104.10 billion, a PE ratio of 23.51, a P/E/G ratio of 4.38 and a beta of 0.78. The company has a debt-to-equity ratio of 1.58, a current ratio of 0.75 and a quick ratio of 0.65. The stock’s 50-day moving average is $48.44 and its 200 day moving average is $46.30.

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

Enbridge Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 1st. Investors of record on Friday, August 15th were issued a dividend of $0.6839 per share. The ex-dividend date was Friday, August 15th. This represents a $2.74 dividend on an annualized basis and a yield of 5.7%. This is a boost from Enbridge’s previous quarterly dividend of $0.68. Enbridge’s dividend payout ratio (DPR) is presently 134.98%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on ENB shares. Weiss Ratings reiterated a “buy (b)” rating on shares of Enbridge in a report on Wednesday, October 8th. National Bankshares reiterated a “sector perform” rating on shares of Enbridge in a report on Tuesday, August 5th. 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. Wall Street Zen downgraded Enbridge from a “hold” rating to a “sell” rating in a report on Sunday, September 21st. Finally, Cibc World Mkts downgraded Enbridge from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 9th. Six analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Enbridge currently has a consensus rating of “Hold” and a consensus target price 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.