KPP Advisory Services LLC Takes Position in Enbridge Inc. (NYSE:ENB)

KPP Advisory Services LLC bought a new position in Enbridge Inc. (NYSE:ENB) (TSE:ENB) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 6,451 shares of the pipeline company’s stock, valued at approximately $230,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ENB. TruNorth Capital Management LLC purchased a new position in shares of Enbridge in the second quarter valued at about $28,000. William B. Walkup & Associates Inc. bought a new position in Enbridge during the 2nd quarter valued at approximately $28,000. Ameritas Investment Partners Inc. purchased a new stake in Enbridge in the 1st quarter worth approximately $29,000. Richardson Financial Services Inc. bought a new stake in shares of Enbridge in the 1st quarter worth approximately $31,000. Finally, PFS Partners LLC increased its stake in shares of Enbridge by 95.8% during the first quarter. PFS Partners LLC now owns 922 shares of the pipeline company’s stock valued at $33,000 after buying an additional 451 shares during the period. 54.60% of the stock is currently owned by institutional investors.

Enbridge Stock Performance

Shares of ENB opened at $41.14 on Wednesday. Enbridge Inc. has a one year low of $31.03 and a one year high of $41.22. The company has a 50-day simple moving average of $39.43 and a two-hundred day simple moving average of $37.06. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.77 and a quick ratio of 0.68. The firm has a market capitalization of $87.79 billion, a PE ratio of 20.88, a price-to-earnings-growth ratio of 3.93 and a beta of 0.94.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings results on Friday, August 2nd. The pipeline company reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.13. The company had revenue of $8.29 billion for the quarter, compared to analyst estimates of $4.28 billion. Enbridge had a return on equity of 10.07% and a net margin of 13.31%. During the same period in the previous year, the company posted $0.51 earnings per share. On average, analysts anticipate that Enbridge Inc. will post 2.08 EPS for the current fiscal 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 paid a $0.669 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $2.68 annualized dividend and a dividend yield of 6.50%. Enbridge’s payout ratio is 134.01%.

Wall Street Analyst Weigh In

Separately, Jefferies Financial Group lowered 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 assigned a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Enbridge presently has a consensus rating of “Hold” and a consensus target price of $51.50.

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.