Tcfg Wealth Management LLC Sells 1,467 Shares of Enbridge Inc $ENB

Tcfg Wealth Management LLC trimmed its holdings in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 12.4% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,358 shares of the pipeline company’s stock after selling 1,467 shares during the quarter. Tcfg Wealth Management LLC’s holdings in Enbridge were worth $469,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings in Enbridge by 1.7% in the first quarter. Vanguard Group Inc. now owns 93,187,025 shares of the pipeline company’s stock worth $4,124,271,000 after purchasing an additional 1,569,879 shares during the period. GQG Partners LLC boosted its position in shares of Enbridge by 1.5% in the 1st quarter. GQG Partners LLC now owns 75,439,320 shares of the pipeline company’s stock worth $3,338,405,000 after purchasing an additional 1,148,580 shares in the last quarter. TD Asset Management Inc grew its stake in shares of Enbridge by 1.3% in the 1st quarter. TD Asset Management Inc now owns 39,265,817 shares of the pipeline company’s stock worth $1,737,602,000 after buying an additional 513,058 shares during the last quarter. Goldman Sachs Group Inc. increased its position in Enbridge by 137.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 32,907,433 shares of the pipeline company’s stock valued at $1,458,128,000 after buying an additional 19,074,827 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its stake in Enbridge by 10.5% during the first quarter. JPMorgan Chase & Co. now owns 17,643,681 shares of the pipeline company’s stock valued at $781,792,000 after buying an additional 1,680,116 shares during the last quarter. 54.60% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on ENB. National Bankshares reissued a “sector perform” rating on shares of Enbridge in a research note on Tuesday, August 5th. Zacks Research cut shares of Enbridge from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 17th. Weiss Ratings restated a “buy (b)” rating on shares of Enbridge in a research note on Saturday, September 27th. Jefferies Financial Group raised shares of Enbridge from a “hold” rating to a “buy” rating in a report on Wednesday, July 23rd. Finally, Argus upped their target price on shares of Enbridge from $50.00 to $54.00 and gave the stock a “buy” rating in a research note on Tuesday, August 12th. Seven research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, Enbridge presently has an average rating of “Moderate Buy” and a consensus target price of $60.50.

Enbridge Price Performance

ENB opened at $49.78 on Tuesday. The company’s 50-day simple moving average is $48.16 and its two-hundred day simple moving average is $46.16. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.65 and a current ratio of 0.75. The stock has a market capitalization of $108.56 billion, a P/E ratio of 24.52, a P/E/G ratio of 4.58 and a beta of 0.78. Enbridge Inc has a 52-week low of $39.73 and a 52-week high of $50.54.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings results on Friday, August 1st. The pipeline company reported $0.47 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.06. The firm had revenue of $7.14 billion during the quarter, compared to analyst estimates of $10.56 billion. Enbridge had a net margin of 10.11% and a return on equity of 10.77%. During the same period in the previous year, the business posted $0.58 earnings per share. As a group, analysts predict that Enbridge Inc will post 2.14 EPS for the current year.

Enbridge Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 1st. Shareholders of record on Friday, August 15th were paid a dividend of $0.6839 per share. The ex-dividend date was Friday, August 15th. This represents a $2.74 dividend on an annualized basis and a yield of 5.5%. This is a boost from Enbridge’s previous quarterly dividend of $0.68. Enbridge’s dividend payout ratio (DPR) is presently 134.98%.

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.