34,008 Shares in Enbridge Inc. (NYSE:ENB) Acquired by Ted Buchan & Co

Ted Buchan & Co purchased a new position in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 34,008 shares of the pipeline company’s stock, valued at approximately $1,210,000.

A number of other large investors have also added to or reduced their stakes in the stock. TruNorth Capital Management LLC bought a new stake in Enbridge during the second quarter worth $28,000. William B. Walkup & Associates Inc. bought a new position in shares of Enbridge in the 2nd quarter valued at $28,000. Ameritas Investment Partners Inc. bought a new position in shares of Enbridge in the 1st quarter valued at $29,000. Richardson Financial Services Inc. bought a new position in shares of Enbridge in the 1st quarter valued at $31,000. Finally, PFS Partners LLC lifted its stake in shares of Enbridge by 95.8% in the 1st quarter. PFS Partners LLC now owns 922 shares of the pipeline company’s stock valued at $33,000 after acquiring an additional 451 shares during the last quarter. Institutional investors and hedge funds own 54.60% of the company’s stock.

Analysts Set New Price Targets

Separately, Jefferies Financial Group cut Enbridge from a “buy” rating to a “hold” rating in a research note on Monday. Two research analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $51.50.

Enbridge Stock Performance

Shares of Enbridge stock opened at $40.61 on Tuesday. The company has a current ratio of 0.77, a quick ratio of 0.68 and a debt-to-equity ratio of 1.34. The business has a 50-day moving average price of $39.34 and a two-hundred day moving average price of $37.02. Enbridge Inc. has a 1-year low of $31.03 and a 1-year high of $41.22. The company has a market cap of $86.65 billion, a P/E ratio of 20.61, a PEG ratio of 3.93 and a beta of 0.94.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its earnings results on Friday, August 2nd. The pipeline company reported $0.58 EPS for the quarter, beating the consensus estimate of $0.45 by $0.13. The company had revenue of $8.29 billion during the quarter, compared to the consensus estimate of $4.28 billion. Enbridge had a return on equity of 10.07% and a net margin of 13.31%. During the same period last year, the business posted $0.51 EPS. As a group, analysts anticipate that Enbridge Inc. will post 2.08 EPS for the current year.

Enbridge Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Thursday, August 15th were given a $0.669 dividend. The ex-dividend date was Thursday, August 15th. This represents a $2.68 annualized dividend and a yield of 6.59%. Enbridge’s payout ratio is 134.01%.

Enbridge 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.