Enbridge Inc $ENB Shares Sold by TruNorth Capital Management LLC

TruNorth Capital Management LLC decreased its holdings in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 56.9% in the second quarter, HoldingsChannel.com reports. The firm owned 1,233 shares of the pipeline company’s stock after selling 1,630 shares during the quarter. TruNorth Capital Management LLC’s holdings in Enbridge were worth $56,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of ENB. Goldman Sachs Group Inc. raised its holdings in Enbridge by 137.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 32,907,433 shares of the pipeline company’s stock worth $1,458,128,000 after purchasing an additional 19,074,827 shares during the period. Nuveen LLC acquired a new position in Enbridge in the 1st quarter worth about $208,490,000. Canada Pension Plan Investment Board raised its holdings in shares of Enbridge by 39.7% during the first quarter. Canada Pension Plan Investment Board now owns 9,525,987 shares of the pipeline company’s stock valued at $421,675,000 after acquiring an additional 2,707,068 shares during the last quarter. Maple Brown Abbott Ltd acquired a new position in shares of Enbridge during the first quarter valued at approximately $77,976,000. Finally, JPMorgan Chase & Co. raised its holdings in shares of Enbridge by 10.5% during the first quarter. JPMorgan Chase & Co. now owns 17,643,681 shares of the pipeline company’s stock valued at $781,792,000 after acquiring an additional 1,680,116 shares during the last quarter. Institutional investors and hedge funds own 54.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Wall Street Zen cut Enbridge from a “hold” rating to a “sell” rating in a report on Sunday, September 21st. Argus increased their target price on Enbridge from $50.00 to $54.00 and gave the company a “buy” rating in a report on Tuesday, August 12th. National Bankshares reissued a “sector perform” rating on shares of Enbridge in a report on Tuesday, August 5th. Jefferies Financial Group raised Enbridge from a “hold” rating to a “buy” rating in a report on Wednesday, July 23rd. Finally, Zacks Research cut Enbridge from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 17th. Six research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $60.50.

Enbridge Price Performance

ENB stock opened at $49.63 on Thursday. The company has a debt-to-equity ratio of 1.58, a current ratio of 0.75 and a quick ratio of 0.65. The business has a 50 day simple moving average of $47.87 and a 200-day simple moving average of $46.00. The firm has a market capitalization of $108.23 billion, a PE ratio of 24.45, a price-to-earnings-growth ratio of 4.62 and a beta of 0.78. Enbridge Inc has a 1 year low of $39.73 and a 1 year high of $50.54.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings results on Friday, August 1st. The pipeline company reported $0.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.06. The business 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 prior year, the business earned $0.58 earnings per share. 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 dividend on an annualized basis and a dividend yield of 5.5%. This is a boost from Enbridge’s previous quarterly dividend of $0.68. The ex-dividend date was Friday, August 15th. Enbridge’s dividend payout ratio (DPR) is currently 134.98%.

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.