Franklin Street Advisors Inc. NC Has $10.49 Million Stock Holdings in Enbridge Inc $ENB

Key Points

• Franklin Street Advisors Inc. NC increased its holdings in Enbridge Inc by 4.8%, totaling approximately $10.49 million in stock value after purchasing additional shares in the 2nd quarter.
• Several brokerage firms have rated Enbridge, with seven analysts giving it a "Buy" rating and an average price target of $60.50.
• Enbridge recently declared a quarterly dividend of $0.6839 per share, marking an increase from its previous dividend and representing a yield of 5.5%.

Franklin Street Advisors Inc. NC increased its holdings in shares of Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB by 4.8% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 231,532 shares of the pipeline company's stock after purchasing an additional 10,507 shares during the period. Franklin Street Advisors Inc. NC's holdings in Enbridge were worth $10,493,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Brighton Jones LLC bought a new position in Enbridge during the fourth quarter valued at about $261,000. GAMMA Investing LLC increased its stake in Enbridge by 4,331.0% during the first quarter. GAMMA Investing LLC now owns 31,593 shares of the pipeline company's stock valued at $1,400,000 after acquiring an additional 30,880 shares during the period. Merit Financial Group LLC increased its stake in Enbridge by 8.7% during the first quarter. Merit Financial Group LLC now owns 31,602 shares of the pipeline company's stock valued at $1,400,000 after acquiring an additional 2,529 shares during the period. Hennion & Walsh Asset Management Inc. bought a new position in Enbridge during the first quarter valued at about $236,000. Finally, Procyon Advisors LLC increased its stake in Enbridge by 1.7% during the first quarter. Procyon Advisors LLC now owns 125,936 shares of the pipeline company's stock valued at $5,580,000 after acquiring an additional 2,126 shares during the period. Institutional investors and hedge funds own 54.60% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on ENB. Wall Street Zen lowered Enbridge from a "hold" rating to a "sell" rating in a research note on Sunday, September 21st. National Bankshares restated a "sector perform" rating on shares of Enbridge in a research note on Tuesday, August 5th. Zacks Research lowered Enbridge from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, September 17th. Argus upped their price objective on Enbridge from $50.00 to $54.00 and gave the company a "buy" rating in a research note on Tuesday, August 12th. Finally, Weiss Ratings reiterated a "buy (b)" rating on shares of Enbridge in a research note on Saturday, September 27th. Seven equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat, Enbridge has an average rating of "Moderate Buy" and an average price target of $60.50.

Enbridge Stock Up 0.8%

NYSE ENB opened at $50.11 on Friday. The firm has a market cap of $109.27 billion, a PE ratio of 24.68, a price-to-earnings-growth ratio of 4.55 and a beta of 0.78. Enbridge Inc has a one year low of $39.73 and a one year high of $50.54. The stock's 50 day simple moving average is $48.06 and its 200 day simple moving average is $46.09. The company has a debt-to-equity ratio of 1.58, a current ratio of 0.75 and a quick ratio of 0.65.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last released its quarterly earnings results on Friday, August 1st. The pipeline company reported $0.47 EPS for the quarter, topping analysts' consensus estimates 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 return on equity of 10.77% and a net margin of 10.11%.During the same period in the prior year, the company earned $0.58 EPS. As a group, sell-side analysts forecast that Enbridge Inc will post 2.14 earnings per share for the current fiscal year.

Enbridge Increases Dividend

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

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