Demars Financial Group LLC Cuts Stake in Enbridge Inc $ENB

Demars Financial Group LLC lessened its holdings in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 97.4% during the second quarter, Holdings Channel.com reports. The firm owned 9,189 shares of the pipeline company’s stock after selling 346,993 shares during the quarter. Demars Financial Group LLC’s holdings in Enbridge were worth $416,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in ENB. Goldman Sachs Group Inc. increased its holdings in shares of Enbridge by 137.9% in the first quarter. Goldman Sachs Group Inc. now owns 32,907,433 shares of the pipeline company’s stock worth $1,458,128,000 after buying an additional 19,074,827 shares during the period. Nuveen LLC purchased a new stake in Enbridge during the 1st quarter valued at about $208,490,000. Canada Pension Plan Investment Board grew its position in Enbridge by 39.7% during the 1st quarter. Canada Pension Plan Investment Board now owns 9,525,987 shares of the pipeline company’s stock worth $421,675,000 after acquiring an additional 2,707,068 shares during the last quarter. Maple Brown Abbott Ltd purchased a new position in Enbridge in the 1st quarter worth approximately $77,976,000. Finally, JPMorgan Chase & Co. lifted its position in Enbridge by 10.5% in the first quarter. JPMorgan Chase & Co. now owns 17,643,681 shares of the pipeline company’s stock valued at $781,792,000 after purchasing an additional 1,680,116 shares during the last quarter. 54.60% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently weighed in on ENB. Cibc World Mkts lowered Enbridge from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 9th. Zacks Research lowered shares of Enbridge from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 17th. Jefferies Financial Group raised shares of Enbridge from a “hold” rating to a “buy” rating in a report on Wednesday, July 23rd. CIBC downgraded shares of Enbridge from an “outperform” rating to a “neutral” rating in a research note on Thursday, October 9th. Finally, Argus increased their target price on shares of Enbridge from $50.00 to $54.00 and gave the stock a “buy” rating in a report on Tuesday, August 12th. Six research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $60.50.

Enbridge Stock Down 0.3%

Shares of NYSE ENB opened at $47.07 on Monday. The firm has a fifty day simple moving average of $48.47 and a two-hundred day simple moving average of $46.37. Enbridge Inc has a 12 month low of $39.73 and a 12 month high of $50.54. The company has a current ratio of 0.75, a quick ratio of 0.65 and a debt-to-equity ratio of 1.58. The firm has a market capitalization of $102.64 billion, a PE ratio of 23.18, a price-to-earnings-growth ratio of 4.32 and a beta of 0.78.

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

Enbridge Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 1st. Stockholders of record on Friday, August 15th were paid a $0.6839 dividend. This represents a $2.74 dividend on an annualized basis and a dividend yield of 5.8%. The ex-dividend date was Friday, August 15th. This is a boost from Enbridge’s previous quarterly dividend of $0.68. Enbridge’s dividend payout ratio (DPR) is 134.98%.

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.