Enbridge Inc $ENB Holdings Lifted by Loudon Investment Management LLC

Key Points

• Loudon Investment Management LLC increased its holdings in Enbridge Inc by 40.6% during the second quarter, now owning 29,801 shares valued at approximately $1.35 million.
• Enbridge recently declared a quarterly dividend of $0.6839 per share, marking an increase from the previous dividend and providing a 5.4% yield for investors.
• Analysts have mixed ratings on Enbridge's stock, with price targets ranging from $50.00 to $60.50 and an average rating of "Moderate Buy."

Loudon Investment Management LLC increased its position in shares of Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB by 40.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 29,801 shares of the pipeline company's stock after acquiring an additional 8,600 shares during the period. Loudon Investment Management LLC's holdings in Enbridge were worth $1,351,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Dagco Inc. acquired a new position in shares of Enbridge in the 1st quarter worth approximately $25,000. Garde Capital Inc. bought a new stake in Enbridge during the first quarter worth approximately $26,000. Financial Gravity Asset Management Inc. bought a new stake in Enbridge during the first quarter worth approximately $28,000. Accent Capital Management LLC acquired a new position in Enbridge in the first quarter worth approximately $30,000. Finally, Wolff Wiese Magana LLC grew its position in Enbridge by 91.3% in the first quarter. Wolff Wiese Magana LLC now owns 765 shares of the pipeline company's stock worth $34,000 after buying an additional 365 shares during the last quarter. 54.60% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on ENB shares. Wall Street Zen lowered Enbridge from a "hold" rating to a "sell" rating in a research note on Sunday, September 21st. Zacks Research downgraded Enbridge from a "strong-buy" rating to a "hold" rating in a report on Wednesday, September 17th. National Bankshares reiterated a "sector perform" rating on shares of Enbridge in a research report on Tuesday, August 5th. Jefferies Financial Group raised Enbridge from a "hold" rating to a "buy" rating in a research note on Wednesday, July 23rd. Finally, Argus boosted their price objective on Enbridge from $50.00 to $54.00 and gave the stock a "buy" rating in a report on Tuesday, August 12th. Six investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $60.50.

Enbridge Stock Performance

Shares of ENB stock opened at $50.48 on Wednesday. The company has a market capitalization of $110.09 billion, a price-to-earnings ratio of 24.87, a P/E/G ratio of 4.55 and a beta of 0.80. Enbridge Inc has a 1-year low of $39.73 and a 1-year high of $50.50. 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 stock's fifty day simple moving average is $47.79 and its 200-day simple moving average is $45.98.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last announced its quarterly earnings data on Friday, August 1st. The pipeline company reported $0.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.06. Enbridge had a return on equity of 10.77% and a net margin of 10.11%.The firm had revenue of $7.14 billion during the quarter, compared to the consensus estimate of $10.56 billion. During the same period in the prior year, the business earned $0.58 EPS. On average, sell-side analysts predict 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. Investors of record on Friday, August 15th were issued a dividend of $0.6839 per share. This is an increase from Enbridge's previous quarterly dividend of $0.68. This represents a $2.74 annualized dividend and a dividend yield of 5.4%. The ex-dividend date was Friday, August 15th. Enbridge's dividend payout ratio is 134.98%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.