NBH Bank Acquires Shares of 11,004 Enbridge Inc $ENB

NBH Bank bought a new stake in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 11,004 shares of the pipeline company’s stock, valued at approximately $597,000.

Several other large investors also recently modified their holdings of ENB. William John Sempolinski acquired a new position in Enbridge in the second quarter valued at about $407,000. Markowski Investments acquired a new stake in Enbridge during the second quarter worth about $1,615,000. Oakmont Investment Advisors Inc. acquired a new stake in Enbridge during the second quarter worth about $454,000. Munich Reinsurance Co Stock Corp in Munich bought a new position in Enbridge in the 2nd quarter valued at about $117,000. Finally, Rogco LP increased its holdings in Enbridge by 2.9% in the 2nd quarter. Rogco LP now owns 14,735 shares of the pipeline company’s stock valued at $799,000 after buying an additional 410 shares during the period. 54.60% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently commented on ENB. Weiss Ratings restated a “buy (b)” rating on shares of Enbridge in a research report on Wednesday, August 19th. Wall Street Zen upgraded shares of Enbridge from a “sell” rating to a “hold” rating in a research report on Sunday, July 12th. Canadian Imperial Bank of Commerce raised shares of Enbridge from a “neutral” rating to a “sector outperform” rating in a research note on Thursday, August 27th. BMO Capital Markets restated a “market perform” rating on shares of Enbridge in a research report on Monday, August 3rd. Finally, Raymond James Financial cut Enbridge from an “outperform” rating to a “market perform” rating in a research note on Friday, July 31st. Six equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $67.00.

Enbridge Price Performance

Shares of NYSE:ENB opened at $50.14 on Friday. The company has a market cap of $109.51 billion, a price-to-earnings ratio of 26.81, a PEG ratio of 5.94 and a beta of 0.57. The company has a debt-to-equity ratio of 1.69, a current ratio of 0.72 and a quick ratio of 0.66. The firm has a 50 day simple moving average of $53.12 and a 200 day simple moving average of $53.96. Enbridge Inc has a one year low of $45.03 and a one year high of $58.45.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its earnings results on Friday, July 31st. The pipeline company reported $0.46 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.03. The firm had revenue of $9.70 billion for 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 last year, the business posted $0.65 earnings per share. Research analysts predict that Enbridge Inc will post 2.11 earnings per share for the current fiscal year.

Enbridge Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 1st. Stockholders of record on Friday, August 14th were paid a $0.97 dividend. This represents a $3.88 dividend on an annualized basis and a dividend yield of 7.7%. The ex-dividend date was Friday, August 14th. Enbridge’s dividend payout ratio is presently 147.06%.

Enbridge Profile

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.