Parkside Financial Bank & Trust Makes New $52,000 Investment in Enbridge Inc $ENB

Parkside Financial Bank & Trust acquired a new stake in Enbridge Inc (NYSE:ENB) (TSE:ENB) in the 2nd quarter, Holdings Channel.com reports. The fund acquired 1,138 shares of the pipeline company’s stock, valued at approximately $52,000.

A number of other institutional investors have also recently modified their holdings of ENB. Dagco Inc. bought a new position in shares of Enbridge in the first quarter worth $25,000. Whipplewood Advisors LLC lifted its position in Enbridge by 112.4% during the second quarter. Whipplewood Advisors LLC now owns 582 shares of the pipeline company’s stock worth $26,000 after purchasing an additional 308 shares during the period. Accent Capital Management LLC acquired a new stake in Enbridge during the first quarter worth about $30,000. FNY Investment Advisers LLC bought a new position in Enbridge in the 2nd quarter valued at about $36,000. Finally, Private Wealth Asset Management LLC raised its position in shares of Enbridge by 289.7% in the 2nd quarter. Private Wealth Asset Management LLC now owns 834 shares of the pipeline company’s stock valued at $38,000 after buying an additional 620 shares in the last quarter. 54.60% of the stock is currently owned by institutional investors.

Enbridge Stock Up 0.7%

Shares of NYSE:ENB opened at $48.27 on Wednesday. Enbridge Inc has a 52-week low of $39.73 and a 52-week high of $50.54. The company has a market capitalization of $105.28 billion, a PE ratio of 23.78, a price-to-earnings-growth ratio of 4.31 and a beta of 0.76. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.65 and a current ratio of 0.75. The company has a fifty day moving average of $48.27 and a 200-day moving average of $46.79.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings data on Friday, November 7th. The pipeline company reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.06). The firm had revenue of $7 billion for the quarter, compared to analyst estimates of $8.45 billion. Enbridge had a net margin of 10.11% and a return on equity of 10.77%. During the same period last year, the business earned $0.55 EPS. On average, equities analysts predict that Enbridge Inc will post 2.14 EPS for the current fiscal year.

Enbridge Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Friday, November 14th will be paid a dividend of $0.9425 per share. The ex-dividend date of this dividend is Friday, November 14th. This is a positive change from Enbridge’s previous quarterly dividend of $0.68. This represents a $3.77 dividend on an annualized basis and a dividend yield of 7.8%. Enbridge’s payout ratio is 147.25%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on ENB. CIBC lowered shares of Enbridge from an “outperform” rating to a “neutral” rating in a research report on Thursday, October 9th. Zacks Research downgraded Enbridge from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 17th. Argus lifted their price target on Enbridge from $50.00 to $54.00 and gave the company a “buy” rating in a research note on Tuesday, August 12th. Jefferies Financial Group raised Enbridge from a “hold” rating to a “buy” rating in a report on Wednesday, July 23rd. Finally, Wall Street Zen lowered Enbridge from a “hold” rating to a “sell” rating in a research note on Sunday, September 21st. Six research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $63.00.

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.