Enbridge Inc $ENB Shares Sold by Capital Asset Advisory Services LLC

Capital Asset Advisory Services LLC cut its holdings in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 4.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,950 shares of the pipeline company’s stock after selling 233 shares during the quarter. Capital Asset Advisory Services LLC’s holdings in Enbridge were worth $222,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Dagco Inc. purchased a new position in Enbridge during the first quarter worth about $25,000. Garde Capital Inc. purchased a new position in Enbridge during the first quarter worth about $26,000. Financial Gravity Asset Management Inc. purchased a new position in Enbridge during the first quarter worth about $28,000. Accent Capital Management LLC purchased a new position in Enbridge during the first quarter worth about $30,000. Finally, Wolff Wiese Magana LLC raised its stake in Enbridge by 91.3% during the first quarter. Wolff Wiese Magana LLC now owns 765 shares of the pipeline company’s stock worth $34,000 after purchasing an additional 365 shares during the period. 54.60% of the stock is owned by hedge funds and other institutional investors.

Enbridge Trading Up 0.6%

Shares of ENB stock opened at $49.11 on Monday. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.65 and a current ratio of 0.75. The stock has a market capitalization of $107.10 billion, a P/E ratio of 24.19, a price-to-earnings-growth ratio of 4.49 and a beta of 0.80. The company has a 50 day moving average price of $46.65 and a 200 day moving average price of $45.41. Enbridge Inc has a fifty-two week low of $39.73 and a fifty-two week high of $49.11.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings data on Friday, August 1st. The pipeline company reported $0.47 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.06. The firm had revenue of $7.14 billion during the quarter, compared to analysts’ expectations of $10.56 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 posted $0.58 earnings per share. Equities research analysts predict that Enbridge Inc will post 2.14 EPS for the current fiscal year.

Enbridge Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 1st. Investors of record on Friday, August 15th were issued a $0.6839 dividend. This represents a $2.74 dividend on an annualized basis and a dividend yield of 5.6%. This is an increase from Enbridge’s previous quarterly dividend of $0.68. The ex-dividend date was Friday, August 15th. Enbridge’s dividend payout ratio (DPR) is presently 134.98%.

Wall Street Analyst Weigh In

A number of brokerages have commented on ENB. Jefferies Financial Group raised shares of Enbridge from a “hold” rating to a “buy” rating in a research note on Wednesday, July 23rd. Argus boosted their price target on shares of Enbridge from $50.00 to $54.00 and gave the company a “buy” rating in a research note on Tuesday, August 12th. National Bankshares reissued a “sector perform” rating on shares of Enbridge in a research note on Tuesday, August 5th. Wall Street Zen raised shares of Enbridge from a “sell” rating to a “hold” rating in a research note on Saturday. Finally, Zacks Research raised shares of Enbridge from a “hold” rating to a “strong-buy” rating in a research note on Friday, August 15th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, Enbridge currently has an average rating of “Moderate Buy” and a consensus target price of $60.50.

Enbridge 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.