Johnson Investment Counsel Inc. Decreases Stock Position in Enbridge Inc $ENB

Johnson Investment Counsel Inc. reduced its position in Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB by 11.8% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 48,321 shares of the pipeline company's stock after selling 6,489 shares during the quarter. Johnson Investment Counsel Inc.'s holdings in Enbridge were worth $2,190,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. Wealth Enhancement Advisory Services LLC increased its position in Enbridge by 6.1% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 438,557 shares of the pipeline company's stock worth $19,431,000 after buying an additional 25,071 shares during the last quarter. 111 Capital purchased a new stake in Enbridge in the second quarter worth $1,887,000. Loudon Investment Management LLC increased its position in Enbridge by 40.6% in the second quarter. Loudon Investment Management LLC now owns 29,801 shares of the pipeline company's stock worth $1,351,000 after buying an additional 8,600 shares during the last quarter. Hartline Investment Corp increased its position in Enbridge by 31.3% in the first 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. Finally, JBR Co Financial Management Inc purchased a new stake in Enbridge in the first quarter worth $330,000. 54.60% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have recently commented on ENB. Cibc World Mkts lowered Enbridge from a "strong-buy" rating to a "hold" rating in a report on Thursday, October 9th. Jefferies Financial Group raised Enbridge from a "hold" rating to a "buy" rating in a report on Wednesday, July 23rd. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Enbridge in a report on Wednesday, October 8th. CIBC lowered Enbridge from an "outperform" rating to a "neutral" rating in a report on Thursday. Finally, National Bankshares reaffirmed a "sector perform" rating on shares of Enbridge in a report on Tuesday, August 5th. Six investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $60.50.

Enbridge Price Performance

NYSE:ENB opened at $47.74 on Tuesday. The firm has a market capitalization of $104.10 billion, a price-to-earnings ratio of 23.51, a P/E/G ratio of 4.38 and a beta of 0.78. Enbridge Inc has a 52-week low of $39.73 and a 52-week high of $50.54. The stock has a fifty day moving average of $48.44 and a 200 day moving average of $46.30. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.65 and a current ratio of 0.75.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last posted its quarterly earnings data on Friday, August 1st. The pipeline company reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.06. The company had revenue of $7.14 billion during 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 quarter last year, the company earned $0.58 earnings per share. On average, research analysts expect that Enbridge Inc will post 2.14 EPS for the current fiscal year.

Enbridge Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 1st. Investors of record on Friday, August 15th were paid 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 annualized dividend and a yield of 5.7%. The ex-dividend date of this dividend was Friday, August 15th. Enbridge's dividend payout ratio is 134.98%.

About Enbridge

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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