Norway Savings Bank Increases Position in Enbridge Inc. (NYSE:ENB)

Norway Savings Bank lifted its holdings in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 9.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,884 shares of the pipeline company’s stock after purchasing an additional 1,230 shares during the period. Norway Savings Bank’s holdings in Enbridge were worth $516,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. White Pine Capital LLC increased its stake in Enbridge by 4.7% during the 1st quarter. White Pine Capital LLC now owns 5,704 shares of the pipeline company’s stock worth $218,000 after buying an additional 255 shares in the last quarter. RMR Wealth Builders increased its stake in Enbridge by 2.4% during the 1st quarter. RMR Wealth Builders now owns 11,628 shares of the pipeline company’s stock worth $444,000 after buying an additional 275 shares in the last quarter. Cranbrook Wealth Management LLC increased its stake in Enbridge by 24.0% during the 1st quarter. Cranbrook Wealth Management LLC now owns 1,525 shares of the pipeline company’s stock worth $58,000 after buying an additional 295 shares in the last quarter. SVB Wealth LLC increased its stake in Enbridge by 3.1% during the 1st quarter. SVB Wealth LLC now owns 9,781 shares of the pipeline company’s stock worth $373,000 after buying an additional 297 shares in the last quarter. Finally, Town & Country Bank & Trust CO dba First Bankers Trust CO increased its stake in Enbridge by 0.8% during the 1st quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 38,643 shares of the pipeline company’s stock worth $1,474,000 after buying an additional 300 shares in the last quarter. Hedge funds and other institutional investors own 48.29% of the company’s stock.

Enbridge Trading Down 0.7 %

NYSE ENB traded down $0.23 on Friday, reaching $35.09. The stock had a trading volume of 7,581,064 shares, compared to its average volume of 4,062,080. The firm has a market capitalization of $74.59 billion, a price-to-earnings ratio of 25.06, a P/E/G ratio of 2.71 and a beta of 0.85. The company has a quick ratio of 0.55, a current ratio of 0.64 and a debt-to-equity ratio of 1.27. Enbridge Inc. has a 12-month low of $32.90 and a 12-month high of $42.12. The stock has a fifty day moving average price of $35.65 and a two-hundred day moving average price of $37.12.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its earnings results on Friday, August 4th. The pipeline company reported $0.51 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.51. The company had revenue of $7.77 billion for the quarter, compared to analyst estimates of $7.49 billion. Enbridge had a return on equity of 10.20% and a net margin of 8.58%. As a group, sell-side analysts forecast that Enbridge Inc. will post 2.11 EPS for the current fiscal year.

Enbridge Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 1st. Shareholders of record on Tuesday, August 15th were given a $0.67 dividend. This is a positive change from Enbridge’s previous quarterly dividend of $0.66. The ex-dividend date of this dividend was Monday, August 14th. This represents a $2.68 dividend on an annualized basis and a yield of 7.64%. Enbridge’s payout ratio is presently 187.86%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. StockNews.com assumed coverage on Enbridge in a research note on Thursday, August 17th. They set a “hold” rating for the company. Wells Fargo & Company cut Enbridge from an “overweight” rating to an “equal weight” rating in a report on Wednesday, September 6th. National Bank Financial started coverage on Enbridge in a report on Monday, September 11th. They set a “sector perform” rating on the stock. Scotiabank started coverage on Enbridge in a report on Monday, September 11th. They set a “sector perform” rating on the stock. Finally, BMO Capital Markets started coverage on Enbridge in a report on Friday, September 8th. They set a “market perform” rating on the stock. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, Enbridge currently has an average rating of “Hold” and an average target price of $58.57.

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.