Laurel Wealth Advisors LLC Raises Holdings in Enbridge Inc $ENB

Laurel Wealth Advisors LLC lifted its position in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 4,388.7% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,817,092 shares of the pipeline company’s stock after buying an additional 2,754,332 shares during the quarter. Laurel Wealth Advisors LLC owned approximately 0.13% of Enbridge worth $127,671,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. Mutual Advisors LLC grew its stake in shares of Enbridge by 25.3% during the 2nd quarter. Mutual Advisors LLC now owns 51,995 shares of the pipeline company’s stock valued at $2,338,000 after buying an additional 10,488 shares during the period. 111 Capital acquired a new position in shares of Enbridge in the 2nd quarter valued at about $1,887,000. Loudon Investment Management LLC grew its holdings in shares of Enbridge by 40.6% during the 2nd quarter. Loudon Investment Management LLC now owns 29,801 shares of the pipeline company’s stock worth $1,351,000 after purchasing an additional 8,600 shares during the period. Ritholtz Wealth Management grew its holdings in shares of Enbridge by 37.7% during the 2nd quarter. Ritholtz Wealth Management now owns 71,834 shares of the pipeline company’s stock worth $3,256,000 after purchasing an additional 19,655 shares during the period. Finally, Envestnet Asset Management Inc. increased its position in Enbridge by 0.8% during the 2nd quarter. Envestnet Asset Management Inc. now owns 4,142,927 shares of the pipeline company’s stock worth $187,705,000 after purchasing an additional 32,268 shares in the last quarter. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Enbridge Stock Down 1.2%

NYSE:ENB opened at $47.38 on Tuesday. Enbridge Inc has a 52 week low of $39.73 and a 52 week high of $50.54. The firm has a market capitalization of $103.35 billion, a PE ratio of 23.34, a price-to-earnings-growth ratio of 4.31 and a beta of 0.76. 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 stock has a 50 day moving average of $48.20 and a 200-day moving average of $46.90.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its earnings results on Friday, November 7th. The pipeline company reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.06). The company had revenue of $7 billion during the quarter, compared to the consensus estimate of $8.45 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 $0.55 earnings per share. Analysts predict that Enbridge Inc will post 2.14 EPS for the current year.

Enbridge Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Friday, November 14th will be paid a $0.9425 dividend. The ex-dividend date is Friday, November 14th. This is an increase from Enbridge’s previous quarterly dividend of $0.68. This represents a $3.77 annualized dividend and a dividend yield of 8.0%. Enbridge’s dividend payout ratio (DPR) is 147.80%.

Analyst Ratings Changes

Several research firms recently weighed in on ENB. Cibc World Mkts lowered shares of Enbridge from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 9th. Scotiabank restated a “sector perform” rating on shares of Enbridge in a report on Monday, November 10th. BMO Capital Markets restated a “market perform” rating on shares of Enbridge in a research note on Monday, November 10th. CIBC cut shares of Enbridge from an “outperform” rating to a “neutral” rating in a research report on Thursday, October 9th. Finally, National Bankshares reissued a “sector perform” rating on shares of Enbridge in a report on Monday, November 10th. Six analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $63.00.

Enbridge Company 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.