Enbridge Inc $ENB is Thomasville National Bank's 10th Largest Position

Key Points

• Thomasville National Bank reduced its holdings in Enbridge Inc by 0.7%, selling 5,907 shares during the 2nd quarter, bringing its total ownership to 829,916 shares valued at approximately $37.6 million.
• Enbridge recently increased its quarterly dividend to $0.6839 per share, reflecting a 5.5% yield, while the dividend payout ratio currently stands at 134.98%.
• Analysts have mixed opinions on ENB, with six analysts rating it a "Buy," five as "Hold," and a consensus target price of $60.50.

Thomasville National Bank cut its holdings in Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB by 0.7% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 829,916 shares of the pipeline company's stock after selling 5,907 shares during the quarter. Enbridge accounts for 2.6% of Thomasville National Bank's investment portfolio, making the stock its 10th largest position. Thomasville National Bank's holdings in Enbridge were worth $37,612,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Dagco Inc. purchased a new position in shares of Enbridge in the 1st quarter valued at about $25,000. Garde Capital Inc. purchased a new position in shares of Enbridge in the first quarter valued at $26,000. Financial Gravity Asset Management Inc. purchased a new position in Enbridge during the first quarter worth $28,000. Accent Capital Management LLC purchased a new stake in shares of Enbridge during the first quarter worth about $30,000. Finally, Wolff Wiese Magana LLC grew its position in shares of Enbridge by 91.3% in the first quarter. Wolff Wiese Magana LLC now owns 765 shares of the pipeline company's stock valued at $34,000 after purchasing an additional 365 shares during the period. Hedge funds and other institutional investors own 54.60% of the company's stock.

Enbridge Stock Up 0.9%

Enbridge stock traded up $0.45 during trading hours on Tuesday, hitting $49.64. The company had a trading volume of 1,167,659 shares, compared to its average volume of 3,886,513. The company has a debt-to-equity ratio of 1.58, a current ratio of 0.75 and a quick ratio of 0.65. The firm has a market capitalization of $108.25 billion, a P/E ratio of 24.45, a price-to-earnings-growth ratio of 4.52 and a beta of 0.80. Enbridge Inc has a fifty-two week low of $39.73 and a fifty-two week high of $49.60. The firm's fifty day moving average is $47.22 and its 200-day moving average is $45.70.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last issued its earnings results on Friday, August 1st. The pipeline company reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.06. The business had revenue of $7.14 billion for the quarter, compared to analyst estimates of $10.56 billion. Enbridge had a net margin of 10.11% and a return on equity of 10.77%. During the same period in the previous year, the business earned $0.58 EPS. On average, research analysts forecast that Enbridge Inc will post 2.14 earnings per share for the current year.

Enbridge Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 1st. Stockholders of record on Friday, August 15th were issued a $0.6839 dividend. 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 5.5%. The ex-dividend date was Friday, August 15th. Enbridge's dividend payout ratio is currently 134.98%.

Analyst Upgrades and Downgrades

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

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.