Enbridge Inc $ENB Stake Decreased by AE Wealth Management LLC

AE Wealth Management LLC decreased its holdings in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 18.7% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 47,607 shares of the pipeline company’s stock after selling 10,963 shares during the quarter. AE Wealth Management LLC’s holdings in Enbridge were worth $2,158,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of Enbridge by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 93,187,025 shares of the pipeline company’s stock worth $4,124,271,000 after acquiring an additional 1,569,879 shares during the last quarter. GQG Partners LLC raised its holdings in Enbridge by 1.5% in the 1st quarter. GQG Partners LLC now owns 75,439,320 shares of the pipeline company’s stock worth $3,338,405,000 after acquiring an additional 1,148,580 shares during the period. TD Asset Management Inc raised its stake in Enbridge by 1.6% during the 2nd quarter. TD Asset Management Inc now owns 39,883,394 shares of the pipeline company’s stock valued at $1,804,913,000 after purchasing an additional 617,577 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in Enbridge by 137.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 32,907,433 shares of the pipeline company’s stock valued at $1,458,128,000 after buying an additional 19,074,827 shares during the period. Finally, JPMorgan Chase & Co. grew its position in Enbridge by 10.5% in the first quarter. JPMorgan Chase & Co. now owns 17,643,681 shares of the pipeline company’s stock valued at $781,792,000 after acquiring an additional 1,680,116 shares during the period. 54.60% of the stock is owned by institutional investors.

Enbridge Trading Up 0.7%

Shares of NYSE ENB opened at $48.27 on Wednesday. The stock has a market cap of $105.28 billion, a P/E ratio of 23.78, a price-to-earnings-growth ratio of 4.31 and a beta of 0.76. Enbridge Inc has a 52-week low of $39.73 and a 52-week high of $50.54. The firm has a 50 day moving average price of $48.27 and a two-hundred day moving average price of $46.79. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.65 and a current ratio of 0.75.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings results on Friday, November 7th. The pipeline company reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.06). The company had revenue of $7 billion during the quarter, compared to the consensus estimate of $8.45 billion. Enbridge had a net margin of 10.11% and a return on equity of 10.77%. During the same quarter last year, the firm posted $0.55 EPS. As a group, equities analysts forecast that Enbridge Inc will post 2.14 EPS for the current year.

Enbridge Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Friday, November 14th will be paid a $0.9425 dividend. The ex-dividend date is Friday, November 14th. This represents a $3.77 annualized dividend and a dividend yield of 7.8%. This is an increase from Enbridge’s previous quarterly dividend of $0.68. Enbridge’s dividend payout ratio (DPR) is presently 147.25%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Jefferies Financial Group raised Enbridge from a “hold” rating to a “buy” rating in a research note on Wednesday, July 23rd. Argus boosted their price target on shares of Enbridge from $50.00 to $54.00 and gave the stock a “buy” rating in a research report on Tuesday, August 12th. CIBC downgraded Enbridge from an “outperform” rating to a “neutral” rating in a research report on Thursday, October 9th. Royal Bank Of Canada increased their price target on shares of Enbridge from $67.00 to $72.00 and gave the company an “outperform” rating in a report on Monday. Finally, National Bankshares reaffirmed a “sector perform” rating on shares of Enbridge in a research report on Monday. Six analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $63.00.

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.