Columbus Macro LLC Purchases 21,643 Shares of Enbridge Inc $ENB

Columbus Macro LLC increased its holdings in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 8.3% during the second quarter, HoldingsChannel reports. The institutional investor owned 281,269 shares of the pipeline company’s stock after acquiring an additional 21,643 shares during the period. Enbridge accounts for about 1.6% of Columbus Macro LLC’s holdings, making the stock its 7th biggest holding. Columbus Macro LLC’s holdings in Enbridge were worth $12,737,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in ENB. Dagco Inc. purchased a new position in shares of Enbridge during the 1st quarter valued at approximately $25,000. Garde Capital Inc. purchased a new position in shares of Enbridge during the 1st quarter worth $26,000. Financial Gravity Asset Management Inc. purchased a new position in shares of Enbridge during the 1st quarter worth $28,000. Accent Capital Management LLC purchased a new position in shares of Enbridge during the 1st quarter worth $30,000. Finally, Wolff Wiese Magana LLC raised its holdings in shares of Enbridge by 91.3% during the 1st quarter. Wolff Wiese Magana LLC now owns 765 shares of the pipeline company’s stock worth $34,000 after acquiring an additional 365 shares during the period. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Enbridge Trading Down 0.8%

NYSE:ENB opened at $49.05 on Thursday. The firm has a market cap of $106.97 billion, a P/E ratio of 24.16, a PEG ratio of 4.53 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. The stock’s 50 day simple moving average is $48.33 and its 200-day simple moving average is $46.20. Enbridge Inc has a 12-month low of $39.73 and a 12-month high of $50.54.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings data on Friday, August 1st. The pipeline company reported $0.47 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.06. Enbridge had a return on equity of 10.77% and a net margin of 10.11%.The firm had revenue of $7.14 billion for the quarter, compared to analyst estimates of $10.56 billion. During the same quarter in the prior year, the company posted $0.58 earnings per share. Equities analysts anticipate that Enbridge Inc will post 2.14 EPS for the current year.

Enbridge Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 1st. Investors of record on Friday, August 15th were issued a dividend of $0.6839 per share. This is a boost from Enbridge’s previous quarterly dividend of $0.68. This represents a $2.74 dividend on an annualized basis and a yield of 5.6%. The ex-dividend date of this dividend was Friday, August 15th. Enbridge’s dividend payout ratio is currently 134.98%.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Wall Street Zen downgraded Enbridge from a “hold” rating to a “sell” rating in a research report on Sunday, September 21st. Weiss Ratings reiterated a “buy (b)” rating on shares of Enbridge in a research note on Wednesday. Zacks Research cut Enbridge from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 17th. National Bankshares restated a “sector perform” rating on shares of Enbridge in a research note on Tuesday, August 5th. Finally, Jefferies Financial Group upgraded Enbridge from a “hold” rating to a “buy” rating in a research note on Wednesday, July 23rd. Seven investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, Enbridge presently has an average rating of “Moderate Buy” and an average price target of $60.50.

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.