Gilman Hill Asset Management LLC Purchases 8,247 Shares of Enbridge Inc $ENB

Key Points

• Gilman Hill Asset Management LLC increased its holdings in Enbridge Inc by 6.3% during the second quarter, totaling 138,299 shares valued at approximately $6.26 million.
• Multiple institutional investors have actively traded Enbridge shares, with Goldman Sachs increasing its stake by 137.9% and now owning over 32 million shares.
• Enbridge has upgraded its quarterly dividend to $0.6839 per share, reflecting an annualized yield of 5.6%, with a dividend payout ratio of 134.98%.

Gilman Hill Asset Management LLC grew its position in shares of Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB by 6.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 138,299 shares of the pipeline company's stock after acquiring an additional 8,247 shares during the quarter. Gilman Hill Asset Management LLC's holdings in Enbridge were worth $6,260,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Dagco Inc. acquired a new position in shares of Enbridge during the first quarter valued at $25,000. Garde Capital Inc. acquired a new position in shares of Enbridge during the first quarter valued at $26,000. Financial Gravity Asset Management Inc. acquired a new position in shares of Enbridge during the first quarter valued at $28,000. Accent Capital Management LLC acquired a new position in shares of Enbridge during the first quarter valued at $30,000. Finally, Wolff Wiese Magana LLC boosted its holdings in shares of Enbridge by 91.3% during the first quarter. Wolff Wiese Magana LLC now owns 765 shares of the pipeline company's stock valued at $34,000 after acquiring an additional 365 shares during the period. Institutional investors and hedge funds own 54.60% of the company's stock.

Wall Street Analyst Weigh In

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

Enbridge Stock Up 0.8%

Shares of NYSE ENB traded up $0.37 during mid-day trading on Friday, reaching $49.49. The company had a trading volume of 3,096,103 shares, compared to its average volume of 2,916,895. The stock has a fifty day moving average of $47.14 and a two-hundred day moving average of $45.62. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.65 and a current ratio of 0.75. The company has a market capitalization of $107.93 billion, a price-to-earnings ratio of 24.38, a PEG ratio of 4.52 and a beta of 0.80. Enbridge Inc has a 12-month low of $39.73 and a 12-month high of $49.55.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last released its quarterly earnings data on Friday, August 1st. The pipeline company reported $0.47 EPS for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $10.56 billion. During the same quarter in the prior year, the company posted $0.58 earnings per share. As a group, equities research analysts expect that Enbridge Inc will post 2.14 EPS for the current year.

Enbridge Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 1st. Shareholders of record on Friday, August 15th were issued a dividend of $0.6839 per share. This represents a $2.74 annualized dividend and a 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 is 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.