Rhumbline Advisers Has $434,000 Holdings in Enbridge Inc $ENB

Rhumbline Advisers cut its stake in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 7.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,785 shares of the pipeline company’s stock after selling 739 shares during the period. Rhumbline Advisers’ holdings in Enbridge were worth $434,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the stock. Brighton Jones LLC acquired a new stake in shares of Enbridge in the fourth quarter valued at approximately $261,000. Integrated Advisors Network LLC increased its stake in Enbridge by 71.9% in the fourth quarter. Integrated Advisors Network LLC now owns 14,330 shares of the pipeline company’s stock valued at $608,000 after acquiring an additional 5,996 shares during the last quarter. Capital A Wealth Management LLC bought a new position in Enbridge in the fourth quarter valued at approximately $39,000. Comprehensive Money Management Services LLC bought a new position in Enbridge in the fourth quarter valued at approximately $425,000. Finally, Elite Financial Inc. bought a new position in Enbridge in the fourth quarter valued at approximately $601,000. 54.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ENB has been the topic of a number of recent analyst reports. Wall Street Zen cut shares of Enbridge from a “hold” rating to a “sell” rating in a research note on Sunday. National Bankshares reissued a “sector perform” rating on shares of Enbridge in a research note on Tuesday, August 5th. Zacks Research cut shares of Enbridge from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 17th. Argus upped their price target on shares of Enbridge from $50.00 to $54.00 and gave the stock a “buy” rating in a report on Tuesday, August 12th. Finally, Jefferies Financial Group upgraded shares of Enbridge from a “hold” rating to a “buy” rating in a report on Wednesday, July 23rd. Six research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, Enbridge has an average rating of “Moderate Buy” and a consensus price target of $60.50.

Enbridge Stock Performance

Shares of ENB opened at $49.58 on Wednesday. The company has a current ratio of 0.75, a quick ratio of 0.65 and a debt-to-equity ratio of 1.58. The stock has a market capitalization of $108.12 billion, a P/E ratio of 24.42, a price-to-earnings-growth ratio of 4.50 and a beta of 0.80. The firm’s fifty day simple moving average is $47.30 and its two-hundred day simple moving average is $45.72. Enbridge Inc has a 12 month low of $39.73 and a 12 month high of $49.82.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings results on Friday, August 1st. The pipeline company reported $0.47 EPS 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 analysts’ expectations of $10.56 billion. During the same quarter in the prior year, the firm posted $0.58 earnings per share. As a group, analysts predict that Enbridge Inc will post 2.14 EPS for the current year.

Enbridge Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 1st. Stockholders of record on Friday, August 15th were issued a dividend of $0.6839 per share. This is an increase from Enbridge’s previous quarterly dividend of $0.68. This represents a $2.74 annualized dividend and a dividend yield of 5.5%. The ex-dividend date was Friday, August 15th. Enbridge’s dividend payout ratio (DPR) is currently 134.98%.

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.