Enbridge Inc $ENB Shares Sold by FLC Capital Advisors

by · The Cerbat Gem

FLC Capital Advisors trimmed its position in Enbridge Inc (NYSE:ENB – Free Report) (TSE:ENB) by 3.6% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 98,378 shares of the pipeline company’s stock after selling 3,650 shares during the period. Enbridge comprises about 0.9% of FLC Capital Advisors’ investment portfolio, making the stock its 28th largest position. FLC Capital Advisors’ holdings in Enbridge were worth $4,458,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Dagco Inc. purchased a new position in shares of Enbridge during the first quarter valued at approximately $25,000. Garde Capital Inc. purchased a new position in shares of Enbridge during the 1st quarter worth $26,000. Financial Gravity Asset Management Inc. purchased a new stake in shares of Enbridge in the first quarter valued at $28,000. Accent Capital Management LLC purchased a new stake in shares of Enbridge in the first quarter valued at $30,000. Finally, Wolff Wiese Magana LLC increased its stake in Enbridge by 91.3% in the first quarter. Wolff Wiese Magana LLC now owns 765 shares of the pipeline company’s stock valued at $34,000 after purchasing an additional 365 shares during the last quarter. 54.60% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on ENB shares. Argus raised their price target on Enbridge from $50.00 to $54.00 and gave the stock a “buy” rating in a research note on Tuesday, August 12th. Zacks Research downgraded shares of Enbridge from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 17th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Enbridge in a research report on Wednesday, October 8th. Wall Street Zen lowered shares of Enbridge from a “hold” rating to a “sell” rating in a report on Sunday, September 21st. Finally, Jefferies Financial Group raised shares of Enbridge from a “hold” rating to a “buy” rating in a research note on Wednesday, July 23rd. Six research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat.com, Enbridge presently has an average rating of “Hold” and an average target price of $60.50.

Get Our Latest Research Report on Enbridge

Enbridge Trading Down 0.3%

Shares of ENB stock opened at $47.07 on Monday. The company has a quick ratio of 0.65, a current ratio of 0.75 and a debt-to-equity ratio of 1.58. Enbridge Inc has a fifty-two week low of $39.73 and a fifty-two week high of $50.54. The firm’s 50 day moving average price is $48.47 and its two-hundred day moving average price is $46.37. The stock has a market cap of $102.64 billion, a price-to-earnings ratio of 23.18, a price-to-earnings-growth ratio of 4.32 and a beta of 0.78.

Enbridge (NYSE:ENB – Get Free Report) (TSE:ENB) last issued its earnings results on Friday, August 1st. The pipeline company reported $0.47 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.06. Enbridge had a net margin of 10.11% and a return on equity of 10.77%. The business had revenue of $7.14 billion for the quarter, compared to the consensus estimate of $10.56 billion. During the same quarter last year, the firm posted $0.58 EPS. On average, analysts anticipate that Enbridge Inc will post 2.14 EPS for the current year.

Enbridge Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 1st. Stockholders of record on Friday, August 15th were given a $0.6839 dividend. The ex-dividend date of this dividend was Friday, August 15th. This is a positive change from Enbridge’s previous quarterly dividend of $0.68. This represents a $2.74 annualized dividend and a dividend yield of 5.8%. Enbridge’s dividend payout ratio (DPR) is currently 134.98%.

Enbridge Company Profile

(Free Report)

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.

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