Soltis Investment Advisors LLC Reduces Holdings in Enbridge Inc $ENB

Soltis Investment Advisors LLC decreased its holdings in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 11.5% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 158,775 shares of the pipeline company’s stock after selling 20,562 shares during the period. Soltis Investment Advisors LLC’s holdings in Enbridge were worth $7,196,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of ENB. Dagco Inc. purchased a new stake in shares of Enbridge during the first quarter worth about $25,000. Whipplewood Advisors LLC boosted its position in Enbridge by 112.4% in the second quarter. Whipplewood Advisors LLC now owns 582 shares of the pipeline company’s stock valued at $26,000 after buying an additional 308 shares during the last quarter. Financial Gravity Asset Management Inc. purchased a new stake in Enbridge in the first quarter valued at approximately $28,000. Accent Capital Management LLC purchased a new stake in Enbridge in the first quarter valued at approximately $30,000. Finally, FNY Investment Advisers LLC purchased a new stake in Enbridge in the second quarter valued at approximately $36,000. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Enbridge Trading Up 0.4%

Shares of ENB stock opened at $46.59 on Thursday. The company has a debt-to-equity ratio of 1.58, a current ratio of 0.75 and a quick ratio of 0.65. The company has a market cap of $101.61 billion, a price-to-earnings ratio of 22.95, a PEG ratio of 4.31 and a beta of 0.76. The stock has a 50 day simple moving average of $48.31 and a 200-day simple moving average of $46.73. Enbridge Inc has a 1-year low of $39.73 and a 1-year high of $50.54.

Enbridge Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Friday, November 14th will be paid a dividend of $0.9425 per share. This represents a $3.77 annualized dividend and a dividend yield of 8.1%. The ex-dividend date of this dividend is Friday, November 14th. This is a positive change from Enbridge’s previous quarterly dividend of $0.68. Enbridge’s dividend payout ratio is currently 134.98%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Jefferies Financial Group upgraded Enbridge from a “hold” rating to a “buy” rating in a research report on Wednesday, July 23rd. Wall Street Zen lowered Enbridge from a “hold” rating to a “sell” rating in a research report on Sunday, September 21st. National Bankshares reiterated a “sector perform” rating on shares of Enbridge in a research report on Tuesday, August 5th. CIBC lowered Enbridge from an “outperform” rating to a “neutral” rating in a research report on Thursday, October 9th. Finally, Argus upped 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. Six analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat, Enbridge has an average rating of “Moderate Buy” and an average target price of $60.50.

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.