Commonwealth Equity Services LLC Has $46.30 Million Position in Enbridge Inc $ENB

Commonwealth Equity Services LLC cut its holdings in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 9.0% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 917,559 shares of the pipeline company’s stock after selling 90,949 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Enbridge were worth $46,300,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the business. Whipplewood Advisors LLC grew its holdings in Enbridge by 112.4% during the 2nd quarter. Whipplewood Advisors LLC now owns 582 shares of the pipeline company’s stock worth $26,000 after acquiring an additional 308 shares during the last quarter. Highline Wealth Partners LLC raised its stake in shares of Enbridge by 73.1% in the third quarter. Highline Wealth Partners LLC now owns 559 shares of the pipeline company’s stock worth $28,000 after acquiring an additional 236 shares during the last quarter. Financial Gravity Companies Inc. acquired a new position in shares of Enbridge during the second quarter worth approximately $29,000. True Wealth Design LLC grew its stake in shares of Enbridge by 588.2% during the third quarter. True Wealth Design LLC now owns 585 shares of the pipeline company’s stock valued at $30,000 after purchasing an additional 500 shares during the last quarter. Finally, Twin Peaks Wealth Advisors LLC acquired a new stake in shares of Enbridge in the second quarter valued at approximately $31,000. 54.60% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have issued reports on ENB shares. BMO Capital Markets reaffirmed a “market perform” rating on shares of Enbridge in a report on Monday, November 10th. Scotiabank restated a “sector perform” rating on shares of Enbridge in a research report on Monday, November 10th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Enbridge in a research note on Monday, December 29th. Royal Bank Of Canada lifted their price objective on Enbridge from $67.00 to $72.00 and gave the stock an “outperform” rating in a research report on Monday, November 10th. Finally, Cibc World Mkts cut Enbridge from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 9th. Five research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $63.00.

Enbridge Trading Down 1.9%

NYSE ENB opened at $45.72 on Wednesday. Enbridge Inc has a 12 month low of $39.73 and a 12 month high of $50.54. The stock has a 50-day simple moving average of $47.57 and a 200 day simple moving average of $47.29. The company has a current ratio of 0.80, a quick ratio of 0.68 and a debt-to-equity ratio of 1.64. The company has a market capitalization of $99.72 billion, a PE ratio of 25.12 and a beta of 0.68.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its earnings results 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). The company had revenue of $7 billion for the quarter, compared to analyst estimates of $8.45 billion. Enbridge had a return on equity of 10.51% and a net margin of 9.20%.During the same quarter in the previous year, the firm posted $0.55 earnings per share. Research analysts forecast that Enbridge Inc will post 2.14 EPS for the current year.

Enbridge Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, March 1st. Investors of record on Tuesday, February 17th will be issued a dividend of $0.97 per share. This is an increase from Enbridge’s previous quarterly dividend of $0.94. This represents a $3.88 dividend on an annualized basis and a yield of 8.5%. The ex-dividend date is Tuesday, February 17th. Enbridge’s dividend payout ratio is presently 147.80%.

Enbridge Profile

Enbridge Inc is a Calgary, Alberta–based energy infrastructure company that develops, owns and operates a diversified portfolio of energy transportation, distribution and generation assets. Its core activities include the operation of crude oil and liquids pipelines, natural gas transmission and distribution systems, and energy storage facilities. In addition to midstream transportation and storage, Enbridge has expanded into renewable power generation and energy transition projects, including wind, solar and utility-scale generation assets.

The company serves customers primarily in Canada and the United States and has interests in other international energy projects.