Apollon Wealth Management LLC Sells 2,317 Shares of Enbridge Inc $ENB

Apollon Wealth Management LLC cut its holdings in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 6.3% during the second quarter, HoldingsChannel reports. The firm owned 34,223 shares of the pipeline company’s stock after selling 2,317 shares during the period. Apollon Wealth Management LLC’s holdings in Enbridge were worth $1,551,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Brighton Jones LLC bought a new position in shares of Enbridge during the 4th quarter worth about $261,000. Assenagon Asset Management S.A. increased its holdings in shares of Enbridge by 0.4% during the 1st quarter. Assenagon Asset Management S.A. now owns 75,420 shares of the pipeline company’s stock worth $3,337,000 after purchasing an additional 320 shares during the period. CX Institutional bought a new position in shares of Enbridge during the 1st quarter worth about $85,000. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Enbridge by 6.1% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 438,557 shares of the pipeline company’s stock worth $19,431,000 after purchasing an additional 25,071 shares during the period. Finally, Trust Co. of Toledo NA OH increased its holdings in shares of Enbridge by 2.5% during the 1st quarter. Trust Co. of Toledo NA OH now owns 14,081 shares of the pipeline company’s stock worth $624,000 after purchasing an additional 350 shares during the period. 54.60% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

ENB has been the topic of several research reports. Zacks Research downgraded shares of Enbridge from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 17th. CIBC downgraded shares of Enbridge from an “outperform” rating to a “neutral” rating in a report on Thursday. National Bankshares restated a “sector perform” rating on shares of Enbridge in a report on Tuesday, August 5th. Cibc World Mkts cut shares of Enbridge from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 9th. Finally, Jefferies Financial Group raised shares of Enbridge from a “hold” rating to a “buy” rating in a research note on Wednesday, July 23rd. Six analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $60.50.

Enbridge Price Performance

NYSE:ENB opened at $47.74 on Tuesday. The firm has a market cap of $104.10 billion, a PE ratio of 23.51, a price-to-earnings-growth ratio of 4.38 and a beta of 0.78. Enbridge Inc has a 12 month low of $39.73 and a 12 month high of $50.54. The company has a quick ratio of 0.65, a current ratio of 0.75 and a debt-to-equity ratio of 1.58. The company’s 50-day moving average price is $48.44 and its two-hundred day moving average price is $46.30.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings results on Friday, August 1st. The pipeline company reported $0.47 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.06. The firm had revenue of $7.14 billion for the quarter, compared to analyst estimates of $10.56 billion. Enbridge had a net margin of 10.11% and a return on equity of 10.77%. During the same period in the previous year, the business earned $0.58 earnings per share. On average, equities analysts anticipate that Enbridge Inc will post 2.14 EPS for the current fiscal year.

Enbridge Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 1st. Shareholders of record on Friday, August 15th were given a $0.6839 dividend. This represents a $2.74 dividend on an annualized basis and a yield of 5.7%. This is a boost 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%.

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.