Schaper Benz & Wise Investment Counsel Inc. WI Raises Holdings in Enbridge Inc. (NYSE:ENB)

Schaper Benz & Wise Investment Counsel Inc. WI boosted its stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 0.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 238,321 shares of the pipeline company’s stock after acquiring an additional 2,232 shares during the quarter. Schaper Benz & Wise Investment Counsel Inc. WI’s holdings in Enbridge were worth $9,678,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Fisher Asset Management LLC lifted its position in shares of Enbridge by 18.5% during the 4th quarter. Fisher Asset Management LLC now owns 10,021 shares of the pipeline company’s stock valued at $361,000 after buying an additional 1,561 shares in the last quarter. Park Avenue Securities LLC lifted its holdings in Enbridge by 61.5% during the first quarter. Park Avenue Securities LLC now owns 42,922 shares of the pipeline company’s stock valued at $1,553,000 after purchasing an additional 16,343 shares in the last quarter. Gulf International Bank UK Ltd grew its position in shares of Enbridge by 8.3% in the first quarter. Gulf International Bank UK Ltd now owns 13,749 shares of the pipeline company’s stock valued at $497,000 after purchasing an additional 1,054 shares during the period. &PARTNERS purchased a new stake in shares of Enbridge during the first quarter worth about $600,000. Finally, Salem Investment Counselors Inc. raised its position in shares of Enbridge by 157.7% during the 1st quarter. Salem Investment Counselors Inc. now owns 50,906 shares of the pipeline company’s stock worth $1,842,000 after purchasing an additional 31,152 shares during the last quarter. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Enbridge Stock Up 0.3 %

Shares of ENB opened at $41.98 on Friday. The company’s 50-day moving average price is $40.38 and its 200 day moving average price is $37.54. Enbridge Inc. has a 12-month low of $31.31 and a 12-month high of $42.03. 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 firm has a market cap of $89.58 billion, a P/E ratio of 21.31, a price-to-earnings-growth ratio of 3.94 and a beta of 0.93.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings data 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 business had revenue of $8.29 billion during the quarter, compared to analyst estimates of $4.28 billion. During the same quarter last year, the firm posted $0.51 earnings per share. On average, sell-side analysts forecast that Enbridge Inc. will post 2.08 earnings per share for the current year.

Enbridge Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Thursday, August 15th were given a dividend of $0.669 per share. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $2.68 annualized dividend and a dividend yield of 6.37%. Enbridge’s dividend payout ratio is currently 134.01%.

Analyst Upgrades and Downgrades

Separately, Jefferies Financial Group cut Enbridge from a “buy” rating to a “hold” rating in a report on Monday, September 30th.

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.