Bahl & Gaynor Inc. Cuts Position in Enbridge Inc $ENB

Bahl & Gaynor Inc. reduced its stake in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 0.3% during the second quarter, according to its most recent filing with the SEC. The fund owned 436,905 shares of the pipeline company’s stock after selling 1,446 shares during the quarter. Bahl & Gaynor Inc.’s holdings in Enbridge were worth $19,801,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Mutual Advisors LLC increased its position in shares of Enbridge by 25.3% during the second quarter. Mutual Advisors LLC now owns 51,995 shares of the pipeline company’s stock valued at $2,338,000 after buying an additional 10,488 shares during the period. 111 Capital purchased a new position in shares of Enbridge in the second quarter worth about $1,887,000. Loudon Investment Management LLC increased its stake in shares of Enbridge by 40.6% in the second quarter. Loudon Investment Management LLC now owns 29,801 shares of the pipeline company’s stock worth $1,351,000 after buying an additional 8,600 shares during the period. Ritholtz Wealth Management grew its stake in shares of Enbridge by 37.7% in the second quarter. Ritholtz Wealth Management now owns 71,834 shares of the pipeline company’s stock worth $3,256,000 after purchasing an additional 19,655 shares during the last quarter. Finally, Envestnet Asset Management Inc. increased its position in Enbridge by 0.8% during the 2nd quarter. Envestnet Asset Management Inc. now owns 4,142,927 shares of the pipeline company’s stock valued at $187,705,000 after purchasing an additional 32,268 shares during the period. Institutional investors own 54.60% of the company’s stock.

Enbridge Stock Performance

Shares of Enbridge stock opened at $47.97 on Friday. The company has a 50-day simple moving average of $48.23 and a two-hundred day simple moving average of $46.88. The company has a market capitalization of $104.64 billion, a PE ratio of 23.63, a P/E/G ratio of 4.31 and a beta of 0.76. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.65 and a current ratio of 0.75. Enbridge Inc has a one year low of $39.73 and a one year high of $50.54.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings data on Friday, November 7th. The pipeline company reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.06). The business had revenue of $7 billion during the quarter, compared to analyst estimates of $8.45 billion. Enbridge had a return on equity of 10.77% and a net margin of 10.11%.During the same period in the previous year, the business earned $0.55 EPS. Research analysts expect that Enbridge Inc will post 2.14 EPS for the current fiscal year.

Enbridge Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Friday, November 14th will be paid a dividend of $0.9425 per share. This represents a $3.77 annualized dividend and a yield of 7.9%. The ex-dividend date is Friday, November 14th. This is a boost from Enbridge’s previous quarterly dividend of $0.68. Enbridge’s dividend payout ratio (DPR) is presently 147.80%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on ENB. CIBC cut shares of Enbridge from an “outperform” rating to a “neutral” rating in a research report on Thursday, October 9th. Royal Bank Of Canada upped their price target on shares of Enbridge from $67.00 to $72.00 and gave the company an “outperform” rating in a research report on Monday, November 10th. Argus raised their target price on shares of Enbridge from $50.00 to $54.00 and gave the stock a “buy” rating in a research note on Tuesday, August 12th. Scotiabank reiterated a “sector perform” rating on shares of Enbridge in a research report on Monday, November 10th. Finally, Wall Street Zen downgraded shares of Enbridge from a “hold” rating to a “sell” rating in a research note on Sunday, September 21st. Six research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $63.00.

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.