Everett Harris & Co. CA Invests $1.96 Million in Enbridge Inc $ENB

Everett Harris & Co. CA acquired a new position in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 36,123 shares of the pipeline company’s stock, valued at approximately $1,958,000.

A number of other institutional investors have also recently bought and sold shares of the company. Triumph Capital Management acquired a new position in Enbridge in the 3rd quarter worth about $26,000. Arlington Trust Co LLC raised its stake in shares of Enbridge by 114.6% during the 2nd quarter. Arlington Trust Co LLC now owns 500 shares of the pipeline company’s stock worth $27,000 after purchasing an additional 267 shares in the last quarter. Turning Point Benefit Group Inc. acquired a new stake in shares of Enbridge during the 3rd quarter valued at about $28,000. Inspire Investing LLC acquired a new stake in shares of Enbridge during the 4th quarter valued at about $29,000. Finally, Garner Asset Management Corp bought a new stake in shares of Enbridge in the 4th quarter valued at approximately $30,000. Institutional investors and hedge funds own 54.60% of the company’s stock.

Enbridge Stock Down 0.8%

Shares of ENB stock opened at $50.89 on Friday. The stock’s 50 day simple moving average is $54.67 and its 200 day simple moving average is $53.91. The company has a debt-to-equity ratio of 1.69, a quick ratio of 0.66 and a current ratio of 0.72. Enbridge Inc has a twelve month low of $45.03 and a twelve month high of $58.45. The company has a market capitalization of $111.15 billion, a price-to-earnings ratio of 27.22 and a beta of 0.58.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its earnings results on Friday, July 31st. The pipeline company reported $0.46 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.03. The firm had revenue of $9.70 billion during the quarter, compared to analyst estimates of $8.67 billion. Enbridge had a return on equity of 11.17% and a net margin of 7.20%.During the same period in the previous year, the company earned $0.65 EPS. As a group, research analysts predict that Enbridge Inc will post 2.11 EPS for the current year.

Enbridge Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Friday, August 14th will be paid a $0.97 dividend. This represents a $3.88 dividend on an annualized basis and a dividend yield of 7.6%. The ex-dividend date is Friday, August 14th. Enbridge’s payout ratio is presently 152.41%.

Analyst Ratings Changes

A number of equities analysts recently commented on ENB shares. Royal Bank Of Canada increased their price objective on Enbridge from $79.00 to $84.00 and gave the stock an “outperform” rating in a report on Monday, August 3rd. TD Securities reiterated a “hold” rating on shares of Enbridge in a research note on Thursday, July 16th. Weiss Ratings reissued a “buy (b)” rating on shares of Enbridge in a research report on Friday, May 22nd. Raymond James Financial lowered shares of Enbridge from an “outperform” rating to a “market perform” rating in a research note on Friday, July 31st. Finally, BMO Capital Markets restated a “market perform” rating on shares of Enbridge in a report on Monday, August 3rd. Four investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat, Enbridge presently has an average rating of “Hold” and a consensus target price of $67.00.

Enbridge Profile

Enbridge Inc is a Calgary, Alberta–based energy infrastructure company that develops, owns and operates a diversified portfolio of energy transportation, distribution and generation assets. Its core activities include the operation of crude oil and liquids pipelines, natural gas transmission and distribution systems, and energy storage facilities. In addition to midstream transportation and storage, Enbridge has expanded into renewable power generation and energy transition projects, including wind, solar and utility-scale generation assets.

The company serves customers primarily in Canada and the United States and has interests in other international energy projects.