Wetherby Asset Management Inc. Increases Stake in Enbridge Inc (NYSE:ENB)

Wetherby Asset Management Inc. raised its stake in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 1.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,163 shares of the pipeline company’s stock after buying an additional 701 shares during the period. Wetherby Asset Management Inc.’s holdings in Enbridge were worth $1,480,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. First Personal Financial Services acquired a new stake in Enbridge during the first quarter valued at approximately $102,000. Financial Architects Inc raised its stake in Enbridge by 2,987.7% in the first quarter. Financial Architects Inc now owns 2,501 shares of the pipeline company’s stock valued at $105,000 after buying an additional 2,420 shares during the last quarter. Monroe Bank & Trust MI acquired a new stake in Enbridge during the first quarter valued at approximately $105,000. Kistler Tiffany Companies LLC acquired a new stake in Enbridge during the first quarter valued at approximately $109,000. Finally, NEXT Financial Group Inc raised its stake in Enbridge by 17.7% in the second quarter. NEXT Financial Group Inc now owns 2,731 shares of the pipeline company’s stock valued at $109,000 after buying an additional 411 shares during the last quarter. 63.83% of the stock is currently owned by institutional investors and hedge funds.

Enbridge Inc (NYSE ENB) opened at 40.61 on Thursday. Enbridge Inc has a one year low of $37.37 and a one year high of $45.77. The firm has a 50-day moving average of $40.60 and a 200 day moving average of $41.01. The stock has a market capitalization of $66.55 billion, a PE ratio of 42.52 and a beta of 0.62.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings results on Thursday, August 3rd. The pipeline company reported $0.30 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by $0.05. Enbridge had a net margin of 5.28% and a return on equity of 6.04%. The firm had revenue of $8.26 billion during the quarter, compared to the consensus estimate of $8.81 billion. During the same quarter in the prior year, the business posted $0.50 earnings per share. On average, equities research analysts anticipate that Enbridge Inc will post $1.64 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Tuesday, August 15th will be issued a $0.489 dividend. This is a boost from Enbridge’s previous quarterly dividend of $0.33. This represents a $1.96 dividend on an annualized basis and a dividend yield of 4.82%. The ex-dividend date is Friday, August 11th. Enbridge’s dividend payout ratio (DPR) is currently 173.79%.

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Several equities research analysts recently commented on the stock. J P Morgan Chase & Co reissued a “neutral” rating on shares of Enbridge in a research note on Friday, June 23rd. Wolfe Research assumed coverage on shares of Enbridge in a research note on Friday, May 12th. They set a “market perform” rating and a $43.00 price objective on the stock. Morgan Stanley reissued an “equal weight” rating and set a $44.00 price objective (down previously from $45.00) on shares of Enbridge in a research note on Friday, July 14th. Zacks Investment Research lowered shares of Enbridge from a “hold” rating to a “sell” rating in a research note on Tuesday, July 11th. Finally, BidaskClub raised shares of Enbridge from a “strong sell” rating to a “sell” rating in a research note on Saturday, June 24th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and eight have given a buy rating to the company. The company has an average rating of “Hold” and an average target price of $54.00.

About Enbridge

Enbridge Inc is a Canada-based energy transportation and distribution company. The Company is engaged in delivering energy. It operates through five segments: Liquids Pipelines, Gas Distribution, Gas Pipelines and Processing, Green Power and Transmission, and Energy Services. Liquids Pipelines consists of common carrier and contract crude oil, natural gas liquids (NGL), and refined products pipelines and terminals, including Canadian Mainline, Lakehead Pipeline System, Mid-Continent and Gulf Coast and Regional Oil Sands System.

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Institutional Ownership by Quarter for Enbridge (NYSE:ENB)

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