Enbridge Inc $ENB Shares Sold by Trajan Wealth LLC

Trajan Wealth LLC cut its holdings in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 12.4% in the second quarter, HoldingsChannel.com reports. The firm owned 834,744 shares of the pipeline company’s stock after selling 117,670 shares during the quarter. Enbridge accounts for about 1.7% of Trajan Wealth LLC’s investment portfolio, making the stock its 13th largest holding. Trajan Wealth LLC’s holdings in Enbridge were worth $45,251,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ENB. Brighton Jones LLC acquired a new stake in shares of Enbridge during the fourth quarter valued at about $261,000. AQR Capital Management LLC raised its stake in shares of Enbridge by 68.5% in the 1st quarter. AQR Capital Management LLC now owns 28,533 shares of the pipeline company’s stock valued at $1,264,000 after acquiring an additional 11,599 shares during the period. AXA S.A. lifted its holdings in shares of Enbridge by 15.5% in the 2nd quarter. AXA S.A. now owns 113,887 shares of the pipeline company’s stock worth $5,161,000 after acquiring an additional 15,259 shares during the last quarter. Diversify Advisory Services LLC lifted its holdings in shares of Enbridge by 93.1% in the 2nd quarter. Diversify Advisory Services LLC now owns 22,016 shares of the pipeline company’s stock worth $1,042,000 after acquiring an additional 10,617 shares during the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its position in shares of Enbridge by 80.1% during the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 78,507 shares of the pipeline company’s stock worth $3,553,000 after purchasing an additional 34,912 shares during the period. 54.60% of the stock is owned by institutional investors and hedge funds.

Enbridge Trading Down 0.8%

ENB opened at $50.08 on Tuesday. Enbridge Inc has a 12 month low of $45.03 and a 12 month high of $58.45. The stock has a market capitalization of $109.37 billion, a price-to-earnings ratio of 26.78 and a beta of 0.58. The company has a debt-to-equity ratio of 1.69, a current ratio of 0.72 and a quick ratio of 0.66. The business has a fifty day moving average price of $54.02 and a 200 day moving average price of $54.04.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings results on Friday, July 31st. The pipeline company reported $0.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.03. The company had revenue of $9.70 billion for the quarter, compared to analyst estimates of $8.67 billion. Enbridge had a return on equity of 11.17% and a net margin of 7.20%.During the same quarter last year, the company earned $0.65 EPS. Sell-side analysts expect that Enbridge Inc will post 2.11 earnings per share for the current fiscal year.

Enbridge Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Friday, August 14th will be paid a dividend of $0.97 per share. This represents a $3.88 dividend on an annualized basis and a dividend yield of 7.7%. The ex-dividend date is Friday, August 14th. Enbridge’s dividend payout ratio is presently 147.06%.

Analyst Ratings Changes

ENB has been the subject of several research reports. Royal Bank Of Canada lifted their target price on shares of Enbridge from $79.00 to $84.00 and gave the company an “outperform” rating in a report on Monday, August 3rd. Canadian Imperial Bank of Commerce restated a “neutral” rating on shares of Enbridge in a research note on Monday, May 11th. Weiss Ratings restated a “buy (b)” rating on shares of Enbridge in a research report on Wednesday, August 19th. US Capital Advisors raised Enbridge from a “hold” rating to a “moderate buy” rating in a research note on Thursday, August 20th. Finally, TD Securities reiterated a “hold” rating on shares of Enbridge in a report on Thursday, July 16th. Five equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat, Enbridge has an average rating of “Hold” and a consensus price target of $67.00.

About Enbridge

Enbridge Inc is a Calgary, Alberta–based energy infrastructure company that develops, owns and operates a diversified portfolio of energy transportation, distribution and generation assets. Its core activities include the operation of crude oil and liquids pipelines, natural gas transmission and distribution systems, and energy storage facilities. In addition to midstream transportation and storage, Enbridge has expanded into renewable power generation and energy transition projects, including wind, solar and utility-scale generation assets.

The company serves customers primarily in Canada and the United States and has interests in other international energy projects.