First Trust Advisors LP Trims Stock Holdings in Enbridge Inc $ENB

First Trust Advisors LP lowered its position in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 8.7% in the second quarter, HoldingsChannel.com reports. The fund owned 863,703 shares of the pipeline company’s stock after selling 82,075 shares during the quarter. First Trust Advisors LP’s holdings in Enbridge were worth $39,143,000 as of its most recent filing with the SEC.

Other large investors have also added to or reduced their stakes in the company. Guggenheim Capital LLC boosted its position in Enbridge by 5.8% in the second quarter. Guggenheim Capital LLC now owns 27,985 shares of the pipeline company’s stock valued at $1,268,000 after buying an additional 1,535 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in Enbridge by 17.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 12,661 shares of the pipeline company’s stock valued at $574,000 after acquiring an additional 1,851 shares during the period. Invesco Ltd. boosted its holdings in shares of Enbridge by 0.3% in the 2nd quarter. Invesco Ltd. now owns 5,470,884 shares of the pipeline company’s stock valued at $247,940,000 after acquiring an additional 14,028 shares during the last quarter. Trek Financial LLC acquired a new stake in shares of Enbridge in the second quarter worth $3,251,000. Finally, Twin Peaks Wealth Advisors LLC purchased a new position in shares of Enbridge during the second quarter worth $31,000. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Enbridge Price Performance

Enbridge stock opened at $47.58 on Wednesday. The stock has a market capitalization of $103.77 billion, a P/E ratio of 26.14 and a beta of 0.68. The company’s fifty day moving average price is $47.89 and its 200 day moving average price is $47.12. The company has a debt-to-equity ratio of 1.64, a quick ratio of 0.68 and a current ratio of 0.80. Enbridge Inc has a 1 year low of $39.73 and a 1 year high of $50.54.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings data on Friday, November 7th. The pipeline company reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.06). Enbridge had a net margin of 9.20% and a return on equity of 10.51%. The company had revenue of $7 billion for the quarter, compared to analysts’ expectations of $8.45 billion. During the same period in the previous year, the business earned $0.55 earnings per share. As a group, equities research analysts anticipate 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 Sunday, March 1st. Investors of record on Tuesday, February 17th will be paid a $0.97 dividend. The ex-dividend date of this dividend is Tuesday, February 17th. This represents a $3.88 dividend on an annualized basis and a yield of 8.2%. This is a boost from Enbridge’s previous quarterly dividend of $0.94. Enbridge’s dividend payout ratio is 147.80%.

Analyst Ratings Changes

A number of research analysts recently issued reports on ENB shares. Wall Street Zen downgraded shares of Enbridge from a “hold” rating to a “sell” rating in a research report on Sunday, September 21st. Royal Bank Of Canada boosted their price objective on Enbridge from $67.00 to $72.00 and gave the company an “outperform” rating in a report on Monday, November 10th. CIBC downgraded Enbridge from an “outperform” rating to a “neutral” rating in a research note on Thursday, October 9th. National Bankshares reiterated a “sector perform” rating on shares of Enbridge in a research report on Monday, November 10th. Finally, Scotiabank restated a “sector perform” rating on shares of Enbridge in a research report on Monday, November 10th. Six investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $63.00.

About Enbridge

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.