Hartline Investment Corp Boosts Stock Position in Enbridge Inc $ENB

by · The Cerbat Gem

Hartline Investment Corp boosted its holdings in shares of Enbridge Inc (NYSE:ENB – Free Report) (TSE:ENB) by 9.0% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 39,338 shares of the pipeline company’s stock after acquiring an additional 3,240 shares during the quarter. Hartline Investment Corp’s holdings in Enbridge were worth $1,783,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of ENB. Brighton Jones LLC purchased a new position in Enbridge during the 4th quarter valued at $261,000. Wealth Enhancement Advisory Services LLC boosted its holdings in Enbridge by 6.1% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 438,557 shares of the pipeline company’s stock valued at $19,431,000 after acquiring an additional 25,071 shares during the period. Sowell Financial Services LLC boosted its holdings in Enbridge by 9.1% during the 1st quarter. Sowell Financial Services LLC now owns 13,188 shares of the pipeline company’s stock valued at $584,000 after acquiring an additional 1,099 shares during the period. QRG Capital Management Inc. boosted its holdings in Enbridge by 21.1% during the 1st quarter. QRG Capital Management Inc. now owns 9,118 shares of the pipeline company’s stock valued at $404,000 after acquiring an additional 1,590 shares during the period. Finally, Clarius Group LLC boosted its holdings in Enbridge by 11.1% during the 1st quarter. Clarius Group LLC now owns 8,603 shares of the pipeline company’s stock valued at $381,000 after acquiring an additional 859 shares during the period. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Cibc World Mkts lowered Enbridge from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 9th. Wall Street Zen lowered Enbridge from a “hold” rating to a “sell” rating in a research report on Sunday, September 21st. Zacks Research lowered Enbridge from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 17th. Jefferies Financial Group raised Enbridge from a “hold” rating to a “buy” rating in a research report on Wednesday, July 23rd. Finally, National Bankshares reaffirmed a “sector perform” rating on shares of Enbridge in a research report on Tuesday, August 5th. Six equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $60.50.

Get Our Latest Analysis on ENB

Enbridge Trading Down 0.3%

ENB opened at $47.07 on Friday. The firm has a market cap of $102.64 billion, a price-to-earnings ratio of 23.18, a PEG ratio of 4.33 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 Inc has a 12 month low of $39.73 and a 12 month high of $50.54. The stock has a fifty day moving average price of $48.47 and a 200-day moving average price of $46.36.

Enbridge (NYSE:ENB – Get Free Report) (TSE:ENB) last released its quarterly earnings results on Friday, August 1st. The pipeline company reported $0.47 EPS for the quarter, topping the consensus estimate of $0.41 by $0.06. The firm had revenue of $7.14 billion during the quarter, compared to analyst estimates of $10.56 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 company posted $0.58 EPS. As a group, equities research analysts anticipate that Enbridge Inc will post 2.14 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 1st. Stockholders of record on Friday, August 15th were given a $0.6839 dividend. This represents a $2.74 annualized dividend and a dividend yield of 5.8%. The ex-dividend date of this dividend was Friday, August 15th. This is a positive change from Enbridge’s previous quarterly dividend of $0.68. Enbridge’s dividend payout ratio is presently 134.98%.

Enbridge Company Profile

(Free Report)

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.

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