Tectonic Advisors LLC Grows Stake in Enbridge Inc $ENB

Tectonic Advisors LLC grew its position in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 6.7% in the second quarter, Holdings Channel reports. The firm owned 296,831 shares of the pipeline company’s stock after purchasing an additional 18,590 shares during the period. Enbridge comprises approximately 0.8% of Tectonic Advisors LLC’s holdings, making the stock its 22nd biggest position. Tectonic Advisors LLC’s holdings in Enbridge were worth $13,452,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in ENB. Brighton Jones LLC purchased a new position in shares of Enbridge during the 4th quarter valued at $261,000. GAMMA Investing LLC grew its position in Enbridge by 4,331.0% in the first quarter. GAMMA Investing LLC now owns 31,593 shares of the pipeline company’s stock worth $1,400,000 after acquiring an additional 30,880 shares in the last quarter. Farther Finance Advisors LLC grew its position in Enbridge by 64.6% in the first quarter. Farther Finance Advisors LLC now owns 20,355 shares of the pipeline company’s stock worth $907,000 after acquiring an additional 7,992 shares in the last quarter. Integrated Advisors Network LLC grew its position in Enbridge by 316.7% in the first quarter. Integrated Advisors Network LLC now owns 59,710 shares of the pipeline company’s stock worth $2,646,000 after acquiring an additional 45,380 shares in the last quarter. Finally, Franklin Street Advisors Inc. NC grew its position in Enbridge by 116.8% in the first quarter. Franklin Street Advisors Inc. NC now owns 221,025 shares of the pipeline company’s stock worth $9,794,000 after acquiring an additional 119,073 shares in the last quarter. 54.60% of the stock is currently owned by hedge funds and other institutional investors.

Enbridge Trading Down 0.8%

NYSE:ENB opened at $49.05 on Thursday. The company’s 50 day moving average price is $48.33 and its 200-day moving average price is $46.20. 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. The stock has a market cap of $106.97 billion, a price-to-earnings ratio of 24.16, a PEG ratio of 4.53 and a beta of 0.78.

Enbridge (NYSE:ENB) (TSE:ENB) last posted 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 firm 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 company posted $0.58 earnings per share. On average, equities research analysts forecast that Enbridge Inc will post 2.14 earnings per share for the current fiscal year.

Enbridge Increases Dividend

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

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Argus upped their target price on shares of Enbridge from $50.00 to $54.00 and gave the stock a “buy” rating in a research report on Tuesday, August 12th. Jefferies Financial Group upgraded shares of Enbridge from a “hold” rating to a “buy” rating in a research report on Wednesday, July 23rd. Weiss Ratings reissued a “buy (b)” rating on shares of Enbridge in a research note on Wednesday. Zacks Research downgraded shares of Enbridge from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 17th. Finally, Wall Street Zen downgraded shares of Enbridge from a “hold” rating to a “sell” rating in a research note on Sunday, September 21st. Seven equities 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 a consensus rating of “Moderate Buy” and a consensus price target of $60.50.

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.