Citizens Financial Group Inc. RI Acquires Shares of 5,789 Enbridge Inc $ENB

Citizens Financial Group Inc. RI bought a new position in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 5,789 shares of the pipeline company’s stock, valued at approximately $262,000.

Several other hedge funds and other institutional investors have also modified their holdings of ENB. IFP Advisors Inc raised its holdings in Enbridge by 1.2% in the 2nd quarter. IFP Advisors Inc now owns 18,217 shares of the pipeline company’s stock valued at $826,000 after acquiring an additional 221 shares during the period. New England Capital Financial Advisors LLC grew its position in shares of Enbridge by 21.0% in the second quarter. New England Capital Financial Advisors LLC now owns 1,285 shares of the pipeline company’s stock valued at $58,000 after purchasing an additional 223 shares during the last quarter. Key Client Fiduciary Advisors LLC grew its position in shares of Enbridge by 1.7% in the second quarter. Key Client Fiduciary Advisors LLC now owns 14,606 shares of the pipeline company’s stock valued at $662,000 after purchasing an additional 242 shares during the last quarter. Sound View Wealth Advisors Group LLC increased its stake in shares of Enbridge by 4.8% during the first quarter. Sound View Wealth Advisors Group LLC now owns 5,304 shares of the pipeline company’s stock worth $235,000 after purchasing an additional 243 shares during the period. Finally, CENTRAL TRUST Co lifted its holdings in Enbridge by 0.6% during the 2nd quarter. CENTRAL TRUST Co now owns 44,999 shares of the pipeline company’s stock worth $2,039,000 after purchasing an additional 248 shares during the last quarter. Institutional investors own 54.60% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on ENB. Wall Street Zen lowered Enbridge from a “hold” rating to a “sell” rating in a report on Sunday, September 21st. BMO Capital Markets reissued a “market perform” rating on shares of Enbridge in a research report on Monday, November 10th. National Bankshares reaffirmed a “sector perform” rating on shares of Enbridge in a research report on Monday, November 10th. Zacks Research cut shares of Enbridge from a “hold” rating to a “strong sell” rating in a research note on Tuesday, November 11th. Finally, CIBC lowered shares of Enbridge from an “outperform” rating to a “neutral” rating in a research report on Thursday, October 9th. Six analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Enbridge currently has an average rating of “Hold” and a consensus target price of $63.00.

Enbridge Stock Up 0.8%

Shares of ENB opened at $48.64 on Thursday. The firm has a 50 day simple moving average of $48.26 and a two-hundred day simple moving average of $46.86. The company has a debt-to-equity ratio of 1.58, a current ratio of 0.75 and a quick ratio of 0.65. Enbridge Inc has a one year low of $39.73 and a one year high of $50.54. The company has a market cap of $106.10 billion, a P/E ratio of 23.96, a P/E/G ratio of 4.31 and a beta of 0.76.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings results on Friday, November 7th. The pipeline company reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.06). Enbridge had a net margin of 10.11% and a return on equity of 10.77%. The business had revenue of $7 billion during the quarter, compared to the consensus estimate of $8.45 billion. During the same quarter in the previous year, the business posted $0.55 EPS. Research 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 will be paid on Monday, December 1st. Stockholders of record on Friday, November 14th will be paid a $0.9425 dividend. This represents a $3.77 dividend on an annualized basis and a dividend yield of 7.8%. The ex-dividend date is Friday, November 14th. This is an increase from Enbridge’s previous quarterly dividend of $0.68. Enbridge’s dividend payout ratio is 147.80%.

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.