Enbridge Inc. (NYSE:ENB) Shares Bought by Gladstone Institutional Advisory LLC

Gladstone Institutional Advisory LLC raised its position in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 2.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 43,295 shares of the pipeline company’s stock after purchasing an additional 906 shares during the quarter. Gladstone Institutional Advisory LLC’s holdings in Enbridge were worth $1,652,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of ENB. White Pine Capital LLC raised its position in Enbridge by 4.7% during the 1st quarter. White Pine Capital LLC now owns 5,704 shares of the pipeline company’s stock worth $218,000 after buying an additional 255 shares during the last quarter. RMR Wealth Builders raised its position in Enbridge by 2.4% during the 1st quarter. RMR Wealth Builders now owns 11,628 shares of the pipeline company’s stock worth $444,000 after buying an additional 275 shares during the last quarter. Cranbrook Wealth Management LLC raised its position in Enbridge by 24.0% during the 1st quarter. Cranbrook Wealth Management LLC now owns 1,525 shares of the pipeline company’s stock worth $58,000 after buying an additional 295 shares during the last quarter. SVB Wealth LLC raised its position in Enbridge by 3.1% during the 1st quarter. SVB Wealth LLC now owns 9,781 shares of the pipeline company’s stock worth $373,000 after buying an additional 297 shares during the last quarter. Finally, Town & Country Bank & Trust CO dba First Bankers Trust CO raised its position in Enbridge by 0.8% during the 1st quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 38,643 shares of the pipeline company’s stock worth $1,474,000 after buying an additional 300 shares during the last quarter. 48.29% of the stock is currently owned by institutional investors and hedge funds.

Enbridge Stock Performance

NYSE:ENB opened at $33.54 on Monday. The company has a current ratio of 0.64, a quick ratio of 0.55 and a debt-to-equity ratio of 1.27. The firm has a 50-day moving average price of $35.88 and a two-hundred day moving average price of $37.23. Enbridge Inc. has a twelve month low of $32.90 and a twelve month high of $43.03. The company has a market capitalization of $67.84 billion, a P/E ratio of 23.96, a price-to-earnings-growth ratio of 2.62 and a beta of 0.85.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its earnings results on Friday, August 4th. The pipeline company reported $0.51 earnings per share for the quarter, meeting the consensus estimate of $0.51. Enbridge had a net margin of 8.58% and a return on equity of 10.20%. The firm had revenue of $7.77 billion during the quarter, compared to the consensus estimate of $7.49 billion. As a group, research analysts expect that Enbridge Inc. will post 2.12 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 1st. Shareholders of record on Tuesday, August 15th were issued a dividend of $0.67 per share. This is an increase from Enbridge’s previous quarterly dividend of $0.66. This represents a $2.68 annualized dividend and a yield of 7.99%. The ex-dividend date of this dividend was Monday, August 14th. Enbridge’s dividend payout ratio (DPR) is 187.86%.

Wall Street Analyst Weigh In

ENB has been the subject of a number of analyst reports. Royal Bank of Canada cut their price objective on shares of Enbridge from $65.00 to $60.00 and set an “outperform” rating for the company in a research report on Monday, August 7th. Wells Fargo & Company downgraded shares of Enbridge from an “overweight” rating to an “equal weight” rating in a report on Wednesday, September 6th. BMO Capital Markets started coverage on shares of Enbridge in a report on Friday. They issued a “market perform” rating for the company. StockNews.com started coverage on shares of Enbridge in a report on Thursday, August 17th. They issued a “hold” rating for the company. Finally, TD Securities cut their price target on shares of Enbridge from $62.00 to $58.00 and set a “buy” rating for the company in a report on Tuesday, August 8th. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $57.67.

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.