Fiduciary Alliance LLC Has $1.25 Million Stock Position in Enbridge Inc $ENB

Key Points

• Fiduciary Alliance LLC has increased its holdings in Enbridge Inc by 37.1% during the second quarter, acquiring a total of 27,487 shares, valued at approximately $1,246,000.
• Enbridge's quarterly earnings report showed earnings per share of $0.47, exceeding estimates of $0.41, while revenues amounted to $7.14 billion, below the expected $10.56 billion.
• Enbridge has recently raised its quarterly dividend to $0.6839 per share, reflecting an annualized yield of 5.6%, with a payout ratio currently at 134.98%.

Fiduciary Alliance LLC boosted its position in shares of Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB by 37.1% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 27,487 shares of the pipeline company's stock after purchasing an additional 7,435 shares during the quarter. Fiduciary Alliance LLC's holdings in Enbridge were worth $1,246,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Wealth Enhancement Advisory Services LLC raised its stake in Enbridge by 6.1% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 438,557 shares of the pipeline company's stock worth $19,431,000 after acquiring an additional 25,071 shares during the last quarter. Hartline Investment Corp boosted its holdings in Enbridge by 31.3% in the 1st quarter. Hartline Investment Corp now owns 36,098 shares of the pipeline company's stock worth $1,600,000 after buying an additional 8,610 shares during the last quarter. Wellington Management Group LLP boosted its holdings in Enbridge by 0.7% in the 4th quarter. Wellington Management Group LLP now owns 1,150,521 shares of the pipeline company's stock worth $48,806,000 after buying an additional 7,890 shares during the last quarter. JBR Co Financial Management Inc acquired a new position in shares of Enbridge during the 1st quarter worth approximately $330,000. Finally, Raymond James Financial Inc. lifted its holdings in Enbridge by 0.8% in the first quarter. Raymond James Financial Inc. now owns 4,299,977 shares of the pipeline company's stock valued at $190,532,000 after acquiring an additional 35,515 shares during the last quarter. Institutional investors own 54.60% of the company's stock.

Wall Street Analyst Weigh In

ENB has been the topic of a number of research analyst reports. Wall Street Zen lowered Enbridge from a "hold" rating to a "sell" rating in a research report on Sunday. Zacks Research downgraded shares of Enbridge from a "strong-buy" rating to a "hold" rating in a research note on Wednesday. Jefferies Financial Group upgraded shares of Enbridge from a "hold" rating to a "buy" rating in a research note on Wednesday, July 23rd. Argus upped their price objective on shares of Enbridge from $50.00 to $54.00 and gave the company a "buy" rating in a research note on Tuesday, August 12th. Finally, National Bankshares restated a "sector perform" rating on shares of Enbridge in a research note on Tuesday, August 5th. Six investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $60.50.

Enbridge Price Performance

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. Enbridge Inc has a 1-year low of $39.73 and a 1-year high of $49.55. 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 has a market cap of $107.93 billion, a PE ratio of 24.38, a P/E/G ratio of 4.52 and a beta of 0.80. The company has a 50-day moving average price of $47.14 and a two-hundred day moving average price of $45.62.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last released 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. Enbridge had a net margin of 10.11% and a return on equity of 10.77%. The company had revenue of $7.14 billion during the quarter, compared to analysts' expectations of $10.56 billion. During the same period in the prior year, the company earned $0.58 earnings per share. On average, equities analysts anticipate that Enbridge Inc will post 2.14 earnings per share for the current year.

Enbridge Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 1st. Stockholders of record on Friday, August 15th were given a dividend of $0.6839 per share. This is a positive change from Enbridge's previous quarterly dividend of $0.68. This represents a $2.74 dividend on an annualized basis and a dividend yield of 5.5%. The ex-dividend date of this dividend was Friday, August 15th. Enbridge's 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.