William B. Walkup & Associates Inc. Acquires Shares of 787 Enbridge Inc. (NYSE:ENB)

William B. Walkup & Associates Inc. acquired a new stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 787 shares of the pipeline company’s stock, valued at approximately $28,000.

Other hedge funds have also added to or reduced their stakes in the company. TruNorth Capital Management LLC bought a new stake in shares of Enbridge during the 2nd quarter valued at $28,000. Ameritas Investment Partners Inc. bought a new stake in shares of Enbridge during the 1st quarter valued at $29,000. Richardson Financial Services Inc. bought a new stake in shares of Enbridge during the 1st quarter valued at $31,000. PFS Partners LLC boosted its holdings in shares of Enbridge by 95.8% during the 1st quarter. PFS Partners LLC now owns 922 shares of the pipeline company’s stock valued at $33,000 after buying an additional 451 shares in the last quarter. Finally, Northwest Bank & Trust Co bought a new stake in shares of Enbridge during the 4th quarter valued at $34,000. 54.60% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Jefferies Financial Group cut shares of Enbridge from a “buy” rating to a “hold” rating in a report on Monday. Two analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, Enbridge has a consensus 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 stock has a market cap of $86.65 billion, a price-to-earnings ratio of 20.61, a PEG ratio of 3.93 and a beta of 0.94. The firm’s 50-day moving average is $39.34 and its 200 day moving average is $37.02. Enbridge Inc. has a 1 year low of $31.03 and a 1 year high of $41.22. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.77 and a quick ratio of 0.68.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings results on Friday, August 2nd. The pipeline company reported $0.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.45 by $0.13. The company had revenue of $8.29 billion for the quarter, compared to analysts’ expectations of $4.28 billion. Enbridge had a net margin of 13.31% and a return on equity of 10.07%. During the same quarter in the previous year, the business posted $0.51 EPS. Sell-side analysts anticipate that Enbridge Inc. will post 2.08 EPS for the current fiscal year.

Enbridge Cuts Dividend

The company 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. This represents a $2.68 dividend on an annualized basis and a yield of 6.59%. The ex-dividend date was Thursday, August 15th. Enbridge’s payout ratio is 134.01%.

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.