Enbridge Inc $ENB Stock Holdings Reduced by Graham Capital Wealth Management LLC

by · The Markets Daily

Graham Capital Wealth Management LLC reduced its position in Enbridge Inc (NYSE:ENB – Free Report) (TSE:ENB) by 1.9% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 59,192 shares of the pipeline company’s stock after selling 1,131 shares during the quarter. Enbridge makes up about 3.2% of Graham Capital Wealth Management LLC’s holdings, making the stock its 10th largest position. Graham Capital Wealth Management LLC’s holdings in Enbridge were worth $2,683,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. Dagco Inc. bought a new position in shares of Enbridge during the 1st quarter worth $25,000. Whipplewood Advisors LLC lifted its holdings in Enbridge by 112.4% during the second quarter. Whipplewood Advisors LLC now owns 582 shares of the pipeline company’s stock valued at $26,000 after purchasing an additional 308 shares during the last quarter. Financial Gravity Companies Inc. bought a new position in Enbridge during the second quarter worth about $29,000. Accent Capital Management LLC bought a new position in Enbridge during the first quarter worth about $30,000. Finally, Addison Advisors LLC purchased a new position in shares of Enbridge in the second quarter worth about $35,000. 54.60% of the stock is currently owned by institutional investors.

Enbridge Stock Performance

NYSE ENB opened at $48.32 on Friday. The company’s 50 day simple moving average is $48.25 and its two-hundred day simple moving average is $46.87. The company has a debt-to-equity ratio of 1.58, a current ratio of 0.75 and a quick ratio of 0.65. Enbridge Inc has a 1 year low of $39.73 and a 1 year high of $50.54. The stock has a market capitalization of $105.39 billion, a PE ratio of 23.80, a P/E/G ratio of 4.31 and a beta of 0.76.

Enbridge (NYSE:ENB – Get Free Report) (TSE:ENB) last released its quarterly earnings results on Friday, November 7th. The pipeline company reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.06). Enbridge had a return on equity of 10.77% and a net margin of 10.11%.The firm had revenue of $7 billion during the quarter, compared to the consensus estimate of $8.45 billion. During the same period in the previous year, the company posted $0.55 EPS. Analysts predict that Enbridge Inc will post 2.14 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Friday, November 14th will be issued a $0.9425 dividend. This represents a $3.77 annualized dividend and a dividend yield of 7.8%. The ex-dividend date of this dividend is Friday, November 14th. This is an increase from Enbridge’s previous quarterly dividend of $0.68. Enbridge’s payout ratio is 147.80%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on ENB shares. Argus upped their price target on shares of Enbridge from $50.00 to $54.00 and gave the company a “buy” rating in a research note on Tuesday, August 12th. Royal Bank Of Canada boosted their target price on shares of Enbridge from $67.00 to $72.00 and gave the company an “outperform” rating in a report on Monday, November 10th. Cibc World Mkts lowered Enbridge from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 9th. Wall Street Zen cut Enbridge from a “hold” rating to a “sell” rating in a research report on Sunday, September 21st. Finally, Zacks Research lowered Enbridge from a “hold” rating to a “strong sell” rating in a research note on Tuesday, November 11th. Six analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $63.00.

Read Our Latest Report on Enbridge

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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