Founders Financial Securities LLC Reduces Position in Enbridge Inc $ENB

Founders Financial Securities LLC trimmed its holdings in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 35.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 48,439 shares of the pipeline company’s stock after selling 26,042 shares during the quarter. Founders Financial Securities LLC’s holdings in Enbridge were worth $2,317,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in ENB. Brighton Jones LLC purchased a new stake in Enbridge in the fourth quarter valued at $261,000. AQR Capital Management LLC boosted its holdings in Enbridge by 68.5% in the first quarter. AQR Capital Management LLC now owns 28,533 shares of the pipeline company’s stock valued at $1,264,000 after purchasing an additional 11,599 shares during the last quarter. AXA S.A. boosted its holdings in Enbridge by 15.5% in the second quarter. AXA S.A. now owns 113,887 shares of the pipeline company’s stock valued at $5,161,000 after purchasing an additional 15,259 shares during the last quarter. Diversify Advisory Services LLC boosted its holdings in Enbridge by 93.1% in the second quarter. Diversify Advisory Services LLC now owns 22,016 shares of the pipeline company’s stock valued at $1,042,000 after purchasing an additional 10,617 shares during the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its holdings in Enbridge by 80.1% in the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 78,507 shares of the pipeline company’s stock valued at $3,553,000 after purchasing an additional 34,912 shares during the last quarter. 54.60% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on ENB shares. Royal Bank Of Canada upped their price objective on shares of Enbridge from $76.00 to $79.00 and gave the stock an “outperform” rating in a research report on Monday, May 11th. BMO Capital Markets reiterated a “market perform” rating on shares of Enbridge in a research report on Tuesday, February 17th. Citigroup reiterated a “buy” rating on shares of Enbridge in a research report on Thursday, February 19th. Weiss Ratings reiterated a “buy (b)” rating on shares of Enbridge in a research report on Friday, May 22nd. Finally, Raymond James Financial upgraded shares of Enbridge to a “moderate buy” rating in a research report on Tuesday, February 17th. Seven equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $66.50.

Enbridge Stock Up 0.0%

ENB opened at $54.75 on Monday. Enbridge Inc has a twelve month low of $43.59 and a twelve month high of $58.45. The company has a quick ratio of 0.73, a current ratio of 0.81 and a debt-to-equity ratio of 1.69. The company has a 50-day moving average price of $54.45 and a 200 day moving average price of $51.12. The company has a market cap of $119.56 billion, a PE ratio of 25.71 and a beta of 0.58.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings results on Friday, May 8th. The pipeline company reported $0.71 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.02. Enbridge had a net margin of 9.83% and a return on equity of 11.21%. The firm had revenue of $9.37 billion during the quarter, compared to the consensus estimate of $8.49 billion. During the same quarter in the prior year, the firm earned $1.03 EPS. Sell-side analysts expect that Enbridge Inc will post 2.18 earnings per share for the current fiscal year.

Enbridge Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 1st. Investors of record on Friday, May 15th will be given a dividend of $0.97 per share. This represents a $3.88 annualized dividend and a dividend yield of 7.1%. The ex-dividend date is Friday, May 15th. Enbridge’s dividend payout ratio is 133.80%.

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.