Creekmur Asset Management LLC Sells 22,525 Shares of Enbridge Inc (NYSE:ENB)

by · The Cerbat Gem

Creekmur Asset Management LLC cut its position in shares of Enbridge Inc (NYSE:ENB – Free Report) (TSE:ENB) by 37.7% in the first quarter, Holdings Channel.com reports. The firm owned 37,159 shares of the pipeline company’s stock after selling 22,525 shares during the quarter. Creekmur Asset Management LLC’s holdings in Enbridge were worth $1,646,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Brighton Jones LLC purchased a new stake in Enbridge in the 4th quarter valued at about $261,000. Natixis Advisors LLC lifted its position in Enbridge by 34.9% during the fourth quarter. Natixis Advisors LLC now owns 260,385 shares of the pipeline company’s stock valued at $11,048,000 after acquiring an additional 67,343 shares during the last quarter. Corient Private Wealth LLC increased its stake in Enbridge by 11.5% during the 4th quarter. Corient Private Wealth LLC now owns 245,819 shares of the pipeline company’s stock valued at $10,430,000 after purchasing an additional 25,289 shares in the last quarter. Parallel Advisors LLC increased its stake in shares of Enbridge by 7.8% in the fourth quarter. Parallel Advisors LLC now owns 20,329 shares of the pipeline company’s stock worth $863,000 after acquiring an additional 1,463 shares during the period. Finally, Axxcess Wealth Management LLC increased its stake in shares of Enbridge by 2.4% in the fourth quarter. Axxcess Wealth Management LLC now owns 52,952 shares of the pipeline company’s stock worth $2,247,000 after acquiring an additional 1,247 shares during the period. 54.60% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $67.00 price objective on shares of Enbridge in a report on Monday, May 12th. National Bankshares reissued a “sector perform” rating on shares of Enbridge in a research note on Monday, May 12th. Citigroup started coverage on shares of Enbridge in a research note on Friday, April 4th. They issued a “buy” rating on the stock. BMO Capital Markets reissued a “market perform” rating on shares of Enbridge in a research note on Monday, May 12th. Finally, Wall Street Zen raised shares of Enbridge from a “sell” rating to a “hold” rating in a research note on Thursday, May 22nd. Six investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $67.00.

Get Our Latest Report on Enbridge

Enbridge Trading Up 0.5%

NYSE ENB opened at $44.99 on Friday. The company has a quick ratio of 0.66, a current ratio of 0.73 and a debt-to-equity ratio of 1.51. Enbridge Inc has a 52 week low of $36.06 and a 52 week high of $47.44. The stock has a market capitalization of $98.09 billion, a PE ratio of 23.16, a price-to-earnings-growth ratio of 4.25 and a beta of 0.79. The firm has a 50 day moving average of $45.39 and a two-hundred day moving average of $44.41.

Enbridge (NYSE:ENB – Get Free Report) (TSE:ENB) last issued its quarterly earnings data on Friday, May 9th. The pipeline company reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.04. The business had revenue of $7.27 billion during the quarter, compared to the consensus estimate of $10.20 billion. Enbridge had a net margin of 10.16% and a return on equity of 10.41%. During the same quarter in the previous year, the firm earned $0.92 EPS. As a group, research analysts expect that Enbridge Inc will post 2.14 EPS for the current fiscal year.

Enbridge Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Sunday, June 1st. Shareholders of record on Thursday, May 15th were given a dividend of $0.679 per share. The ex-dividend date was Thursday, May 15th. This represents a $2.72 dividend on an annualized basis and a yield of 6.04%. This is an increase from Enbridge’s previous quarterly dividend of $0.67. Enbridge’s dividend payout ratio is presently 140.21%.

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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