Axxcess Wealth Management LLC Sells 10,519 Shares of Enbridge Inc $ENB

Axxcess Wealth Management LLC lowered its stake in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 25.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,330 shares of the pipeline company’s stock after selling 10,519 shares during the period. Axxcess Wealth Management LLC’s holdings in Enbridge were worth $1,642,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Triumph Capital Management acquired a new position in shares of Enbridge during the third quarter worth $26,000. Turning Point Benefit Group Inc. acquired a new stake in shares of Enbridge during the 3rd quarter valued at $28,000. Inspire Investing LLC acquired a new stake in shares of Enbridge during the 4th quarter valued at $29,000. Garner Asset Management Corp bought a new stake in Enbridge during the 4th quarter worth $30,000. Finally, Imprint Wealth LLC bought a new stake in Enbridge during the 3rd quarter worth $31,000. Institutional investors own 54.60% of the company’s stock.

Enbridge Trading Up 0.1%

Shares of ENB stock opened at $55.10 on Thursday. Enbridge Inc has a 1-year low of $43.59 and a 1-year high of $58.45. The company has a current ratio of 0.81, a quick ratio of 0.73 and a debt-to-equity ratio of 1.69. The stock has a market cap of $120.35 billion, a price-to-earnings ratio of 25.87 and a beta of 0.58. The stock has a 50-day moving average of $55.42 and a 200-day moving average of $52.58.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings data on Friday, May 8th. The pipeline company reported $0.71 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.02. Enbridge had a return on equity of 11.21% and a net margin of 9.83%.The company had revenue of $9.37 billion for the quarter, compared to analyst estimates of $8.49 billion. During the same period in the previous year, the firm earned $1.03 earnings per share. On average, equities research analysts forecast that Enbridge Inc will post 2.14 earnings per share for the current year.

Enbridge Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Friday, May 15th were given a $0.97 dividend. The ex-dividend date was Friday, May 15th. This represents a $3.88 dividend on an annualized basis and a dividend yield of 7.0%. Enbridge’s payout ratio is 133.80%.

Analysts Set New Price Targets

Several research firms have commented on ENB. Canadian Imperial Bank of Commerce reiterated a “neutral” rating on shares of Enbridge in a research report on Monday, May 11th. Royal Bank Of Canada boosted their price target on Enbridge from $76.00 to $79.00 and gave the stock an “outperform” rating in a report on Monday, May 11th. Scotiabank reaffirmed an “outperform” rating on shares of Enbridge in a research note on Monday, May 11th. Wall Street Zen lowered shares of Enbridge from a “hold” rating to a “sell” rating in a report on Saturday, June 27th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Enbridge in a research report on Friday, May 22nd. Seven equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $66.50.

About Enbridge

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.