Enbridge Inc $ENB Shares Sold by Farmers & Merchants Investments Inc.

Key Points

• Farmers & Merchants Investments Inc. reduced its position in Enbridge Inc by 2.0%, holding 294,383 shares valued at approximately $13.34 million after selling 5,976 shares in the second quarter.
• Several hedge funds, including Wealth Enhancement Advisory and Hartline Investment Corp, have increased their stakes in Enbridge during the first quarter, contributing to institutional investors owning 54.60% of the company.
• Enbridge recently raised its quarterly dividend to $0.6839 per share, reflecting an annualized yield of 5.5%, despite a high dividend payout ratio of 134.98%.

Farmers & Merchants Investments Inc. cut its stake in shares of Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB by 2.0% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 294,383 shares of the pipeline company's stock after selling 5,976 shares during the quarter. Farmers & Merchants Investments Inc.'s holdings in Enbridge were worth $13,341,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Dagco Inc. purchased a new position in shares of Enbridge in the 1st quarter worth about $25,000. Garde Capital Inc. bought a new stake in Enbridge in the first quarter worth $26,000. Financial Gravity Asset Management Inc. purchased a new position in Enbridge in the first quarter worth about $28,000. Accent Capital Management LLC bought a new stake in Enbridge in the 1st quarter worth about $30,000. Finally, Wolff Wiese Magana LLC boosted its holdings 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 purchasing an additional 365 shares during the last quarter. Institutional investors and hedge funds own 54.60% of the company's stock.

Analyst Ratings Changes

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

Enbridge Stock Performance

ENB stock traded down $0.25 during trading on Monday, hitting $49.21. The company had a trading volume of 3,258,334 shares, compared to its average volume of 2,820,199. The company has a quick ratio of 0.65, a current ratio of 0.75 and a debt-to-equity ratio of 1.58. The firm has a 50-day moving average price of $47.22 and a 200-day moving average price of $45.70. Enbridge Inc has a 1-year low of $39.73 and a 1-year high of $49.60. The firm has a market cap of $107.31 billion, a PE ratio of 24.24, a price-to-earnings-growth ratio of 4.52 and a beta of 0.80.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last released its quarterly earnings data 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. 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 last year, the business posted $0.58 EPS. On average, analysts expect that Enbridge Inc will post 2.14 earnings per share for the current year.

Enbridge Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 1st. Shareholders of record on Friday, August 15th were given a $0.6839 dividend. This represents a $2.74 annualized dividend and a yield of 5.6%. This is a boost from Enbridge's previous quarterly dividend of $0.68. The ex-dividend date of this dividend 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.