Pacifica Partners Inc. Has $3.33 Million Stock Holdings in Enbridge Inc $ENB

Key Points

• Pacifica Partners Inc. increased its stake in Enbridge Inc by 12.4% in Q2, now owning 74,228 shares worth approximately $3.33 million.
• Enbridge's latest earnings report showed an EPS of $0.47, surpassing estimates, despite revenue of $7.14 billion falling short of predictions.
• The company declared a quarterly dividend of $0.6839 per share, a slight increase from the previous dividend, reflecting a dividend yield of 5.5%.

Pacifica Partners Inc. boosted its position in Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB by 12.4% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 74,228 shares of the pipeline company's stock after purchasing an additional 8,205 shares during the period. Enbridge makes up about 1.4% of Pacifica Partners Inc.'s portfolio, making the stock its 25th largest holding. Pacifica Partners Inc.'s holdings in Enbridge were worth $3,330,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Capital Investment Counsel Inc grew its position in shares of Enbridge by 3.1% in the first quarter. Capital Investment Counsel Inc now owns 7,527 shares of the pipeline company's stock valued at $333,000 after purchasing an additional 223 shares during the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors boosted its position in Enbridge by 0.7% during the 1st quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 34,326 shares of the pipeline company's stock worth $1,526,000 after acquiring an additional 226 shares during the last quarter. Loudon Investment Management LLC increased its position in Enbridge by 1.1% during the first quarter. Loudon Investment Management LLC now owns 21,201 shares of the pipeline company's stock worth $939,000 after buying an additional 240 shares during the last quarter. Key Client Fiduciary Advisors LLC boosted its holdings in Enbridge by 1.7% in the 2nd quarter. Key Client Fiduciary Advisors LLC now owns 14,606 shares of the pipeline company's stock valued at $662,000 after purchasing an additional 242 shares during the period. Finally, Sound View Wealth Advisors Group LLC boosted its stake in shares of Enbridge by 4.8% in the 1st quarter. Sound View Wealth Advisors Group LLC now owns 5,304 shares of the pipeline company's stock valued at $235,000 after purchasing an additional 243 shares in the last quarter. Institutional investors and hedge funds own 54.60% of the company's stock.

Enbridge Stock Performance

Enbridge stock traded down $0.25 during trading hours on Monday, reaching $49.21. 3,258,334 shares of the stock were exchanged, compared to its average volume of 2,820,199. The firm's 50 day moving average is $47.22 and its 200 day moving average is $45.70. Enbridge Inc has a 52-week low of $39.73 and a 52-week high of $49.60. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.65 and a current ratio of 0.75. The stock has a market cap of $107.31 billion, a P/E ratio of 24.24, a P/E/G ratio of 4.52 and a beta of 0.80.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last posted 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 quarter in the previous year, the business posted $0.58 EPS. Analysts predict that Enbridge Inc will post 2.14 EPS for the current fiscal year.

Enbridge Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 1st. Investors of record on Friday, August 15th were paid a $0.6839 dividend. The ex-dividend date of this dividend was Friday, August 15th. This represents a $2.74 annualized dividend and a yield of 5.6%. This is a positive change from Enbridge's previous quarterly dividend of $0.68. Enbridge's payout ratio is presently 134.98%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on ENB shares. Zacks Research cut Enbridge from a "strong-buy" rating to a "hold" rating in a report on Wednesday, September 17th. Wall Street Zen cut shares of Enbridge from a "hold" rating to a "sell" rating in a research note on Sunday. National Bankshares reiterated a "sector perform" rating on shares of Enbridge in a research report on Tuesday, August 5th. Argus raised 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, Jefferies Financial Group upgraded Enbridge from a "hold" rating to a "buy" rating in a report on Wednesday, July 23rd. Six investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $60.50.

Enbridge Company 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.