13,325 Shares in Enbridge Inc $ENB Bought by Frank Rimerman Advisors LLC

Frank Rimerman Advisors LLC bought a new stake in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 13,325 shares of the pipeline company’s stock, valued at approximately $604,000.

Several other institutional investors and hedge funds have also recently modified their holdings of ENB. Goldman Sachs Group Inc. grew its holdings in Enbridge by 137.9% in the first quarter. Goldman Sachs Group Inc. now owns 32,907,433 shares of the pipeline company’s stock valued at $1,458,128,000 after purchasing an additional 19,074,827 shares during the period. Nuveen LLC acquired a new stake in Enbridge in the 1st quarter valued at $208,490,000. Geode Capital Management LLC grew its stake in Enbridge by 20.2% in the 2nd quarter. Geode Capital Management LLC now owns 17,785,430 shares of the pipeline company’s stock valued at $818,620,000 after acquiring an additional 2,989,992 shares during the period. Canada Pension Plan Investment Board increased its holdings in Enbridge by 39.7% in the 1st quarter. Canada Pension Plan Investment Board now owns 9,525,987 shares of the pipeline company’s stock worth $421,675,000 after acquiring an additional 2,707,068 shares in the last quarter. Finally, Maple Brown Abbott Ltd acquired a new position in Enbridge during the first quarter worth $77,976,000. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Enbridge Stock Up 0.8%

ENB stock opened at $48.64 on Thursday. 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 firm has a 50-day moving average of $48.26 and a two-hundred day moving average of $46.86. Enbridge Inc has a 12 month low of $39.73 and a 12 month high of $50.54. The company has a market cap of $106.10 billion, a price-to-earnings ratio of 23.96, a PEG ratio of 4.31 and a beta of 0.76.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its earnings results on Friday, November 7th. The pipeline company reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.06). Enbridge had a return on equity of 10.77% and a net margin of 10.11%.The company had revenue of $7 billion for the quarter, compared to analyst estimates of $8.45 billion. During the same quarter in the prior year, the firm earned $0.55 earnings per share. As a group, analysts forecast that Enbridge Inc will post 2.14 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The business also recently announced 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. This represents a $3.77 annualized dividend and a yield of 7.8%. The ex-dividend date is Friday, November 14th. This is an increase from Enbridge’s previous quarterly dividend of $0.68. Enbridge’s dividend payout ratio (DPR) is currently 147.80%.

Analyst Ratings Changes

A number of analysts have recently commented on ENB shares. Cibc World Mkts cut shares of Enbridge from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 9th. BMO Capital Markets reiterated a “market perform” rating on shares of Enbridge in a report on Monday, November 10th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Enbridge in a research note on Monday. National Bankshares restated a “sector perform” rating on shares of Enbridge in a research report on Monday, November 10th. Finally, Scotiabank reaffirmed a “sector perform” rating on shares of Enbridge in a research note on Monday, November 10th. Six analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $63.00.

About Enbridge

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.