Sather Financial Group Inc Acquires New Stake in Enbridge Inc $ENB

Key Points

• Sather Financial Group Inc has acquired a new stake in Enbridge Inc, purchasing 7,685 shares valued at approximately $348,000 in the 2nd quarter.
• Enbridge's recent dividend, paid on September 1st, increased to $0.6839 per share, reflecting a 5.7% yield and a payout ratio of 134.98%.
• Following earnings results that beat analyst expectations, several analysts have issued mixed ratings on Enbridge stock, with a consensus target price of $60.50.

Sather Financial Group Inc acquired a new stake in Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 7,685 shares of the pipeline company's stock, valued at approximately $348,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC raised its stake in Enbridge by 6.1% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 438,557 shares of the pipeline company's stock valued at $19,431,000 after purchasing an additional 25,071 shares during the last quarter. 111 Capital purchased a new stake in Enbridge in the 2nd quarter valued at $1,887,000. Loudon Investment Management LLC grew its holdings in Enbridge by 40.6% in the 2nd quarter. Loudon Investment Management LLC now owns 29,801 shares of the pipeline company's stock valued at $1,351,000 after buying an additional 8,600 shares in the last quarter. Hartline Investment Corp grew its holdings in Enbridge by 31.3% in the 1st quarter. Hartline Investment Corp now owns 36,098 shares of the pipeline company's stock valued at $1,600,000 after buying an additional 8,610 shares in the last quarter. Finally, JBR Co Financial Management Inc purchased a new stake in Enbridge in the 1st quarter valued at $330,000. 54.60% of the stock is owned by institutional investors and hedge funds.

Enbridge Stock Performance

Shares of Enbridge stock opened at $47.67 on Friday. The business has a 50-day moving average of $48.41 and a 200 day moving average of $46.26. Enbridge Inc has a 12 month low of $39.73 and a 12 month high of $50.54. The stock has a market capitalization of $103.96 billion, a price-to-earnings ratio of 23.48, a price-to-earnings-growth ratio of 4.37 and a beta of 0.78. 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 announced its earnings results on Friday, August 1st. The pipeline company reported $0.47 EPS for the quarter, beating analysts' consensus estimates of $0.41 by $0.06. Enbridge had a return on equity of 10.77% and a net margin of 10.11%.The company had revenue of $7.14 billion during the quarter, compared to analysts' expectations of $10.56 billion. During the same period last year, the business posted $0.58 EPS. As a group, sell-side 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. Investors of record on Friday, August 15th were issued a dividend of $0.6839 per share. This is a positive change 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 5.7%. Enbridge's dividend payout ratio (DPR) is 134.98%.

Analysts Set New Price Targets

Several analysts have issued reports on ENB shares. National Bankshares restated a "sector perform" rating on shares of Enbridge in a report on Tuesday, August 5th. Weiss Ratings restated a "buy (b)" rating on shares of Enbridge in a report on Wednesday. CIBC cut Enbridge from an "outperform" rating to a "neutral" rating in a report on Thursday. Zacks Research cut Enbridge from a "strong-buy" rating to a "hold" rating in a report on Wednesday, September 17th. Finally, Jefferies Financial Group upgraded Enbridge from a "hold" rating to a "buy" rating in a report on Wednesday, July 23rd. Six equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat, Enbridge presently has a consensus rating of "Hold" and a consensus target price of $60.50.

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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