Trajan Wealth LLC cut its stake in shares of Enbridge Inc (NYSE:ENB – Free Report) (TSE:ENB) by 12.4% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 834,744 shares of the pipeline company’s stock after selling 117,670 shares during the period. Enbridge comprises about 1.7% of Trajan Wealth LLC’s holdings, making the stock its 13th biggest holding. Trajan Wealth LLC’s holdings in Enbridge were worth $45,251,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in ENB. Retirement Planning Group LLC increased its stake in shares of Enbridge by 3.6% during the first quarter. Retirement Planning Group LLC now owns 5,357 shares of the pipeline company’s stock worth $290,000 after purchasing an additional 187 shares in the last quarter. Bank & Trust Co lifted its stake in Enbridge by 0.6% in the 2nd quarter. Bank & Trust Co now owns 33,276 shares of the pipeline company’s stock valued at $1,804,000 after buying an additional 193 shares in the last quarter. Cornerstone Wealth Management LLC lifted its stake in Enbridge by 0.6% in the 2nd quarter. Cornerstone Wealth Management LLC now owns 31,543 shares of the pipeline company’s stock valued at $1,710,000 after buying an additional 194 shares in the last quarter. PFG Investments LLC boosted its holdings in Enbridge by 0.9% in the 1st quarter. PFG Investments LLC now owns 22,208 shares of the pipeline company’s stock worth $1,202,000 after buying an additional 202 shares during the last quarter. Finally, MIdWestOne Financial Group Inc. boosted its holdings in Enbridge by 4.3% in the 4th quarter. MIdWestOne Financial Group Inc. now owns 4,906 shares of the pipeline company’s stock worth $235,000 after buying an additional 203 shares during the last quarter. 54.60% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several equities research analysts have commented on the company. Wolfe Research set a $50.00 price objective on Enbridge in a research note on Tuesday, August 4th. US Capital Advisors upgraded Enbridge from a “hold” rating to a “moderate buy” rating in a research report on Thursday, August 20th. Raymond James Financial lowered Enbridge from an “outperform” rating to a “market perform” rating in a research note on Friday, July 31st. Canadian Imperial Bank of Commerce reiterated a “neutral” rating on shares of Enbridge in a research report on Monday, May 11th. Finally, TD Securities restated a “hold” rating on shares of Enbridge in a report on Thursday, July 16th. Five research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat.com, Enbridge currently has a consensus rating of “Hold” and an average target price of $67.00.
Enbridge Trading Down 0.8%
Shares of ENB stock opened at $50.08 on Tuesday. The company’s 50-day moving average price is $54.02 and its 200-day moving average price is $54.04. The company has a current ratio of 0.72, a quick ratio of 0.66 and a debt-to-equity ratio of 1.69. The stock has a market cap of $109.37 billion, a price-to-earnings ratio of 26.78 and a beta of 0.58. Enbridge Inc has a twelve month low of $45.03 and a twelve month high of $58.45.
Enbridge (NYSE:ENB – Get Free Report) (TSE:ENB) last announced its quarterly earnings data on Friday, July 31st. The pipeline company reported $0.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.03. Enbridge had a net margin of 7.20% and a return on equity of 11.17%. The firm had revenue of $9.70 billion during the quarter, compared to analyst estimates of $8.67 billion. During the same quarter in the prior year, the firm posted $0.65 earnings per share. As a group, equities analysts predict that Enbridge Inc will post 2.11 earnings per share for the current year.
Enbridge Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Friday, August 14th will be paid a $0.97 dividend. The ex-dividend date of this dividend is Friday, August 14th. This represents a $3.88 annualized dividend and a dividend yield of 7.7%. Enbridge’s dividend payout ratio is 147.06%.
Enbridge Profile
Enbridge Inc is a Calgary, Alberta–based energy infrastructure company that develops, owns and operates a diversified portfolio of energy transportation, distribution and generation assets. Its core activities include the operation of crude oil and liquids pipelines, natural gas transmission and distribution systems, and energy storage facilities. In addition to midstream transportation and storage, Enbridge has expanded into renewable power generation and energy transition projects, including wind, solar and utility-scale generation assets.
The company serves customers primarily in Canada and the United States and has interests in other international energy projects.
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