Wilmington Savings Fund Society FSB Reduces Stock Position in Enbridge Inc $ENB

Wilmington Savings Fund Society FSB lowered its stake in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 5.7% during the 2nd quarter, HoldingsChannel reports. The fund owned 30,069 shares of the pipeline company’s stock after selling 1,820 shares during the period. Wilmington Savings Fund Society FSB’s holdings in Enbridge were worth $1,363,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in ENB. Brighton Jones LLC purchased a new stake in shares of Enbridge during the fourth quarter worth $261,000. Wealth Enhancement Advisory Services LLC lifted its position in shares of Enbridge by 6.1% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 438,557 shares of the pipeline company’s stock worth $19,431,000 after acquiring an additional 25,071 shares in the last quarter. Sowell Financial Services LLC raised its position in shares of Enbridge by 9.1% in the first quarter. Sowell Financial Services LLC now owns 13,188 shares of the pipeline company’s stock worth $584,000 after buying an additional 1,099 shares in the last quarter. Sagespring Wealth Partners LLC raised its position in shares of Enbridge by 14.9% in the first quarter. Sagespring Wealth Partners LLC now owns 19,203 shares of the pipeline company’s stock worth $851,000 after buying an additional 2,490 shares in the last quarter. Finally, QRG Capital Management Inc. raised its position in shares of Enbridge by 21.1% in the first quarter. QRG Capital Management Inc. now owns 9,118 shares of the pipeline company’s stock worth $404,000 after buying an additional 1,590 shares in the last quarter. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Analyst Upgrades and Downgrades

ENB has been the topic of a number of recent analyst reports. Weiss Ratings reiterated a “buy (b)” rating on shares of Enbridge in a research report on Wednesday, October 8th. CIBC downgraded Enbridge from an “outperform” rating to a “neutral” rating in a research report on Thursday, October 9th. Argus increased their price objective on Enbridge from $50.00 to $54.00 and gave the stock a “buy” rating in a research report on Tuesday, August 12th. National Bankshares reiterated a “sector perform” rating on shares of Enbridge in a research report on Tuesday, August 5th. Finally, Cibc World Mkts downgraded Enbridge from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 9th. Six equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $60.50.

Enbridge Stock Up 0.2%

ENB opened at $47.62 on Thursday. The stock has a market cap of $103.84 billion, a PE ratio of 23.46, a P/E/G ratio of 4.36 and a beta of 0.78. The company has a quick ratio of 0.65, a current ratio of 0.75 and a debt-to-equity ratio of 1.58. Enbridge Inc has a 52 week low of $39.73 and a 52 week high of $50.54. The business’s fifty day simple moving average is $48.46 and its 200 day simple moving average is $46.32.

Enbridge (NYSE:ENB) (TSE:ENB) last released its 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. Enbridge had a return on equity of 10.77% and a net margin of 10.11%.The business had revenue of $7.14 billion for the quarter, compared to analysts’ expectations of $10.56 billion. During the same quarter in the prior year, the firm earned $0.58 earnings per share. As a group, research analysts expect that Enbridge Inc will post 2.14 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 1st. Stockholders of record on Friday, August 15th were paid a dividend of $0.6839 per share. This represents a $2.74 dividend on an annualized basis and a dividend yield of 5.7%. This is an increase from Enbridge’s previous quarterly dividend of $0.68. The ex-dividend date of this dividend was Friday, August 15th. Enbridge’s payout ratio is 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.