Jones Financial Companies Lllp Grows Holdings in Enbridge Inc $ENB

Jones Financial Companies Lllp boosted its position in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 9.3% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 2,946,871 shares of the pipeline company’s stock after acquiring an additional 250,236 shares during the quarter. Jones Financial Companies Lllp’s holdings in Enbridge were worth $165,689,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. Retirement Planning Group LLC boosted its holdings in Enbridge by 3.6% in the first quarter. Retirement Planning Group LLC now owns 5,357 shares of the pipeline company’s stock valued at $290,000 after purchasing an additional 187 shares during the last quarter. Bank & Trust Co boosted its stake in shares of Enbridge by 0.6% during the 2nd quarter. Bank & Trust Co now owns 33,276 shares of the pipeline company’s stock valued at $1,804,000 after buying an additional 193 shares during the last quarter. Cornerstone Wealth Management LLC grew its position in shares of Enbridge by 0.6% during the second quarter. Cornerstone Wealth Management LLC now owns 31,543 shares of the pipeline company’s stock worth $1,710,000 after buying an additional 194 shares in the last quarter. PFG Investments LLC grew its position in shares of Enbridge by 0.9% during the first quarter. PFG Investments LLC now owns 22,208 shares of the pipeline company’s stock worth $1,202,000 after buying an additional 202 shares in the last quarter. Finally, MIdWestOne Financial Group Inc. increased its stake in shares of Enbridge by 4.3% in the fourth quarter. MIdWestOne Financial Group Inc. now owns 4,906 shares of the pipeline company’s stock worth $235,000 after buying an additional 203 shares during the last quarter. 54.60% of the stock is currently owned by institutional investors and hedge funds.

Enbridge Stock Performance

ENB stock opened at $50.08 on Tuesday. The stock’s 50 day simple moving average is $54.02 and its 200 day simple moving average is $54.04. Enbridge Inc has a 12-month low of $45.03 and a 12-month high of $58.45. The firm has a market cap of $109.37 billion, a P/E ratio of 26.78 and a beta of 0.58. The company has a current ratio of 0.72, a quick ratio of 0.66 and a debt-to-equity ratio of 1.69.

Enbridge (NYSE:ENB) (TSE:ENB) last released its earnings results on Friday, July 31st. The pipeline company reported $0.46 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.03. The firm had revenue of $9.70 billion during the quarter, compared to analyst estimates of $8.67 billion. Enbridge had a net margin of 7.20% and a return on equity of 11.17%. During the same quarter in the previous year, the firm earned $0.65 earnings per share. As a group, equities research analysts predict that Enbridge Inc will post 2.11 EPS for the current year.

Enbridge Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Friday, August 14th will be issued a $0.97 dividend. The ex-dividend date of this dividend is Friday, August 14th. This represents a $3.88 annualized dividend and a dividend yield of 7.7%. Enbridge’s payout ratio is 147.06%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on ENB. Royal Bank Of Canada upped their price target on shares of Enbridge from $79.00 to $84.00 and gave the company an “outperform” rating in a report on Monday, August 3rd. Scotiabank reissued an “outperform” rating on shares of Enbridge in a research report on Tuesday, July 21st. Wolfe Research set a $50.00 target price on shares of Enbridge in a research report on Tuesday, August 4th. US Capital Advisors upgraded shares of Enbridge from a “hold” rating to a “moderate buy” rating in a research note on Thursday, August 20th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Enbridge in a research note on Wednesday, August 19th. Five 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, the company has an average rating of “Hold” and a consensus price target of $67.00.

About Enbridge

Enbridge Inc is a Calgary, Alberta–based energy infrastructure company that develops, owns and operates a diversified portfolio of energy transportation, distribution and generation assets. Its core activities include the operation of crude oil and liquids pipelines, natural gas transmission and distribution systems, and energy storage facilities. In addition to midstream transportation and storage, Enbridge has expanded into renewable power generation and energy transition projects, including wind, solar and utility-scale generation assets.

The company serves customers primarily in Canada and the United States and has interests in other international energy projects.