Whitener Capital Management Inc. Boosts Stock Position in Enbridge Inc (NYSE:ENB)

Whitener Capital Management Inc. boosted its holdings in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 100.6% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 12,833 shares of the pipeline company’s stock after buying an additional 6,436 shares during the quarter. Whitener Capital Management Inc.’s holdings in Enbridge were worth $463,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Manchester Financial Inc. purchased a new position in shares of Enbridge during the second quarter worth about $25,000. Westside Investment Management Inc. purchased a new position in shares of Enbridge during the second quarter worth about $25,000. Hanson McClain Inc. grew its holdings in shares of Enbridge by 41.9% during the first quarter. Hanson McClain Inc. now owns 1,005 shares of the pipeline company’s stock worth $36,000 after purchasing an additional 297 shares during the last quarter. Cascade Investment Advisors Inc. purchased a new position in shares of Enbridge during the second quarter worth about $36,000. Finally, Northern Oak Wealth Management Inc. purchased a new position in shares of Enbridge during the second quarter worth about $36,000. 55.45% of the stock is currently owned by hedge funds and other institutional investors.

In other Enbridge news, insider Albert Monaco bought 7,848 shares of the firm’s stock in a transaction dated Wednesday, June 5th. The stock was acquired at an average price of $49.81 per share, for a total transaction of $390,908.88. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.42% of the stock is currently owned by corporate insiders.

Several equities analysts have issued reports on ENB shares. ValuEngine lowered Enbridge from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. Wolfe Research lowered Enbridge from an “outperform” rating to a “peer perform” rating and set a $37.00 price objective on the stock. in a report on Thursday, June 13th. Goldman Sachs Group started coverage on Enbridge in a report on Thursday, July 18th. They set a “neutral” rating on the stock. Bank of America lowered Enbridge from a “buy” rating to a “neutral” rating and set a $49.00 price objective on the stock. in a report on Tuesday, July 2nd. Finally, Credit Suisse Group lowered Enbridge from an “outperform” rating to a “neutral” rating in a report on Thursday, April 25th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $43.75.

Shares of ENB traded up $0.54 during mid-day trading on Friday, hitting $33.62. 2,437,100 shares of the company’s stock were exchanged, compared to its average volume of 3,068,546. Enbridge Inc has a fifty-two week low of $28.82 and a fifty-two week high of $38.04. The firm has a market capitalization of $66.30 billion, a P/E ratio of 16.40, a P/E/G ratio of 2.57 and a beta of 0.59. The business’s 50 day moving average is $34.94 and its two-hundred day moving average is $36.12. The company has a current ratio of 0.63, a quick ratio of 0.53 and a debt-to-equity ratio of 0.92.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its earnings results on Friday, August 2nd. The pipeline company reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.08. Enbridge had a net margin of 9.97% and a return on equity of 8.16%. The business had revenue of $9.92 billion during the quarter. On average, equities research analysts forecast that Enbridge Inc will post 1.9 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Sunday, September 1st. Stockholders of record on Thursday, August 15th will be paid a dividend of $0.559 per share. This is an increase from Enbridge’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend is Wednesday, August 14th. This represents a $2.24 annualized dividend and a dividend yield of 6.65%. Enbridge’s dividend payout ratio is 109.27%.

Enbridge Profile

Enbridge Inc operates as an energy infrastructure company in Canada and the United States. The company operates through five segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution, Green Power and Transmission, and Energy Services. The Liquids Pipelines segment operates common carrier and contract crude oil, natural gas liquids (NGL), and refined products pipelines and terminals.

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Institutional Ownership by Quarter for Enbridge (NYSE:ENB)

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