Enbridge Inc $ENB Shares Bought by Allworth Financial LP

Allworth Financial LP grew its holdings in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 17.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 80,521 shares of the pipeline company’s stock after purchasing an additional 11,903 shares during the period. Allworth Financial LP’s holdings in Enbridge were worth $3,649,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Mutual Advisors LLC grew its stake in Enbridge by 25.3% in the second quarter. Mutual Advisors LLC now owns 51,995 shares of the pipeline company’s stock valued at $2,338,000 after acquiring an additional 10,488 shares during the period. 111 Capital bought a new position in shares of Enbridge in the 2nd quarter worth $1,887,000. Loudon Investment Management LLC grew its position in Enbridge by 40.6% in the 2nd quarter. Loudon Investment Management LLC now owns 29,801 shares of the pipeline company’s stock valued at $1,351,000 after purchasing an additional 8,600 shares during the period. Ritholtz Wealth Management lifted its stake in shares of Enbridge by 37.7% in the second quarter. Ritholtz Wealth Management now owns 71,834 shares of the pipeline company’s stock valued at $3,256,000 after buying an additional 19,655 shares in the last quarter. Finally, Envestnet Asset Management Inc. grew its holdings in shares of Enbridge by 0.8% during the second quarter. Envestnet Asset Management Inc. now owns 4,142,927 shares of the pipeline company’s stock valued at $187,705,000 after buying an additional 32,268 shares during the last quarter. 54.60% of the stock is owned by institutional investors and hedge funds.

Enbridge Trading Up 1.0%

Shares of Enbridge stock opened at $48.77 on Thursday. 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 firm has a market cap of $106.37 billion, a PE ratio of 24.03, a PEG ratio of 4.31 and a beta of 0.76. The company has a 50 day simple moving average of $48.28 and a two-hundred day simple moving average of $46.81.

Enbridge (NYSE:ENB) (TSE:ENB) last issued 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 business had revenue of $7 billion for 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 in the previous year, the business earned $0.55 earnings per share. Analysts expect that Enbridge Inc will post 2.14 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Friday, November 14th will be given a dividend of $0.9425 per share. This is an increase from Enbridge’s previous quarterly dividend of $0.68. This represents a $3.77 annualized dividend and a dividend yield of 7.7%. The ex-dividend date is Friday, November 14th. Enbridge’s dividend payout ratio is presently 147.25%.

Wall Street Analyst Weigh In

ENB has been the subject of several analyst reports. Royal Bank Of Canada increased their price objective on shares of Enbridge from $67.00 to $72.00 and gave the company an “outperform” rating in a research note on Monday. Wall Street Zen downgraded Enbridge from a “hold” rating to a “sell” rating in a research report on Sunday, September 21st. Zacks Research lowered Enbridge from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 17th. Cibc World Mkts downgraded Enbridge from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 9th. Finally, BMO Capital Markets restated a “market perform” rating on shares of Enbridge in a research report on Monday. Six investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus 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.