RFG Advisory LLC Boosts Stake in Enbridge Inc $ENB

RFG Advisory LLC increased its stake in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 33.2% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 19,005 shares of the pipeline company’s stock after purchasing an additional 4,740 shares during the period. RFG Advisory LLC’s holdings in Enbridge were worth $861,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Dagco Inc. purchased a new position in shares of Enbridge during the 1st quarter worth approximately $25,000. Garde Capital Inc. purchased a new position in Enbridge in the 1st quarter valued at approximately $26,000. Financial Gravity Asset Management Inc. purchased a new position in Enbridge in the 1st quarter valued at approximately $28,000. Accent Capital Management LLC purchased a new position in Enbridge in the 1st quarter valued at approximately $30,000. Finally, Wolff Wiese Magana LLC boosted its position in Enbridge by 91.3% in the 1st quarter. Wolff Wiese Magana LLC now owns 765 shares of the pipeline company’s stock valued at $34,000 after buying an additional 365 shares during the period. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Enbridge Price Performance

Shares of ENB opened at $47.24 on Friday. Enbridge Inc has a twelve month low of $39.73 and a twelve month high of $50.54. The firm’s fifty day simple moving average is $48.47 and its 200-day simple moving average is $46.34. The firm has a market capitalization of $103.02 billion, a price-to-earnings ratio of 23.27, a PEG ratio of 4.37 and a beta of 0.78. The company has a current ratio of 0.75, a quick ratio of 0.65 and a debt-to-equity ratio of 1.58.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings data on Friday, August 1st. The pipeline company reported $0.47 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.06. Enbridge had a net margin of 10.11% and a return on equity of 10.77%. The business had revenue of $7.14 billion for the quarter, compared to analyst estimates of $10.56 billion. During the same period last year, the business earned $0.58 EPS. Equities 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 was paid on Monday, September 1st. Investors of record on Friday, August 15th were paid a dividend of $0.6839 per share. The ex-dividend date was Friday, August 15th. This represents a $2.74 annualized dividend and a yield of 5.8%. This is an increase from Enbridge’s previous quarterly dividend of $0.68. Enbridge’s dividend payout ratio (DPR) is 134.98%.

Wall Street Analysts Forecast Growth

ENB has been the subject of several recent research reports. CIBC cut shares of Enbridge from an “outperform” rating to a “neutral” rating in a research report on Thursday, October 9th. Wall Street Zen cut shares of Enbridge from a “hold” rating to a “sell” rating in a research report on Sunday, September 21st. Weiss Ratings reissued a “buy (b)” rating on shares of Enbridge in a research report on Wednesday, October 8th. Cibc World Mkts cut shares of Enbridge from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 9th. Finally, Jefferies Financial Group raised shares of Enbridge from a “hold” rating to a “buy” rating in a research report on Wednesday, July 23rd. Six analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $60.50.

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.