Kimelman & Baird LLC Acquires Shares of 2,850 Enbridge Inc. (NYSE:ENB)

Kimelman & Baird LLC acquired a new stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm acquired 2,850 shares of the pipeline company’s stock, valued at approximately $101,000.

Several other large investors also recently modified their holdings of the stock. Vanguard Group Inc. increased its stake in shares of Enbridge by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 84,280,486 shares of the pipeline company’s stock worth $3,049,268,000 after purchasing an additional 1,227,031 shares during the last quarter. TD Asset Management Inc increased its stake in shares of Enbridge by 0.9% during the 1st quarter. TD Asset Management Inc now owns 38,087,489 shares of the pipeline company’s stock worth $1,377,708,000 after purchasing an additional 337,729 shares during the last quarter. 1832 Asset Management L.P. increased its stake in shares of Enbridge by 3.9% during the 1st quarter. 1832 Asset Management L.P. now owns 36,649,579 shares of the pipeline company’s stock worth $1,325,982,000 after purchasing an additional 1,360,439 shares during the last quarter. Cibc World Market Inc. increased its stake in shares of Enbridge by 12.8% during the 2nd quarter. Cibc World Market Inc. now owns 32,531,675 shares of the pipeline company’s stock worth $1,157,802,000 after purchasing an additional 3,693,495 shares during the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC increased its stake in shares of Enbridge by 3.7% during the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 23,083,951 shares of the pipeline company’s stock worth $821,331,000 after purchasing an additional 827,540 shares during the last quarter. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Enbridge Stock Down 0.3 %

ENB opened at $40.61 on Tuesday. The company has a 50 day moving average of $39.34 and a 200 day moving average of $37.02. The company has a market cap of $86.65 billion, a PE ratio of 20.61, a price-to-earnings-growth ratio of 3.93 and a beta of 0.94. Enbridge Inc. has a 12 month low of $31.03 and a 12 month high of $41.22. The company has a current ratio of 0.77, a quick ratio of 0.68 and a debt-to-equity ratio of 1.34.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly 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. Enbridge had a net margin of 13.31% and a return on equity of 10.07%. The firm had revenue of $8.29 billion during the quarter, compared to the consensus estimate of $4.28 billion. During the same period last year, the firm earned $0.51 EPS. On average, sell-side analysts expect that Enbridge Inc. will post 2.08 EPS for the current year.

Enbridge Cuts Dividend

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

Wall Street Analyst Weigh In

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

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.