Associated Banc Corp Sells 2,075 Shares of Enbridge Inc $ENB

Associated Banc Corp reduced its holdings in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 29.4% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,991 shares of the pipeline company’s stock after selling 2,075 shares during the period. Associated Banc Corp’s holdings in Enbridge were worth $226,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in ENB. Mutual Advisors LLC increased its holdings in 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 2nd quarter valued at $1,887,000. Loudon Investment Management LLC raised its position in shares of Enbridge by 40.6% in the 2nd quarter. Loudon Investment Management LLC now owns 29,801 shares of the pipeline company’s stock worth $1,351,000 after acquiring an additional 8,600 shares in the last quarter. Ritholtz Wealth Management lifted its stake in shares of Enbridge by 37.7% during the 2nd 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. boosted its position in Enbridge by 0.8% during the second 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 in the last quarter. 54.60% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Argus boosted their target price on shares of Enbridge from $50.00 to $54.00 and gave the stock a “buy” rating in a report on Tuesday, August 12th. Weiss Ratings reissued a “buy (b-)” rating on shares of Enbridge in a research report on Monday. Cibc World Mkts downgraded shares of Enbridge from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 9th. National Bankshares reaffirmed a “sector perform” rating on shares of Enbridge in a research report on Monday, November 10th. Finally, Wall Street Zen cut Enbridge from a “hold” rating to a “sell” rating in a research report on Sunday, September 21st. Six investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Enbridge currently has a consensus rating of “Hold” and an average target price of $63.00.

Enbridge Trading Up 1.0%

Shares of NYSE:ENB opened at $48.04 on Thursday. The business has a 50-day moving average price of $48.15 and a 200-day moving average price of $46.91. The stock has a market cap of $104.80 billion, a price-to-earnings ratio of 23.67, a PEG ratio of 4.31 and a beta of 0.76. Enbridge Inc has a 52-week low of $39.73 and a 52-week high of $50.54. The company has a quick ratio of 0.65, a current ratio of 0.75 and a debt-to-equity ratio of 1.58.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings results on Friday, November 7th. The pipeline company reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.06). The business had revenue of $7 billion for the quarter, compared to analysts’ expectations 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 prior year, the business posted $0.55 earnings per share. Equities analysts predict that Enbridge Inc will post 2.14 EPS for the current year.

Enbridge Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Friday, November 14th will be issued a $0.9425 dividend. The ex-dividend date of this dividend is Friday, November 14th. This is a positive change from Enbridge’s previous quarterly dividend of $0.68. This represents a $3.77 annualized dividend and a yield of 7.8%. Enbridge’s dividend payout ratio is currently 147.80%.

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.