Concord Wealth Partners Sells 247 Shares of Enbridge Inc $ENB

Concord Wealth Partners cut its holdings in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 14.6% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,448 shares of the pipeline company’s stock after selling 247 shares during the quarter. Concord Wealth Partners’ holdings in Enbridge were worth $66,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Wealth Enhancement Advisory Services LLC boosted its position in shares of Enbridge by 6.1% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 438,557 shares of the pipeline company’s stock worth $19,431,000 after purchasing an additional 25,071 shares in the last quarter. 111 Capital bought a new position in shares of Enbridge during the second quarter worth $1,887,000. Loudon Investment Management LLC boosted its position in shares of Enbridge by 40.6% during the second 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 in the last quarter. Hartline Investment Corp boosted its position in shares of Enbridge by 31.3% during the first quarter. Hartline Investment Corp now owns 36,098 shares of the pipeline company’s stock worth $1,600,000 after purchasing an additional 8,610 shares in the last quarter. Finally, JBR Co Financial Management Inc bought a new position in shares of Enbridge during the first quarter worth $330,000. 54.60% of the stock is owned by institutional investors.

Enbridge Trading Up 0.1%

ENB opened at $47.74 on Tuesday. The stock has a market capitalization of $104.10 billion, a P/E ratio of 23.51, a P/E/G ratio of 4.38 and a beta of 0.78. Enbridge Inc has a 12 month low of $39.73 and a 12 month high of $50.54. The firm’s fifty day simple moving average is $48.44 and its 200 day simple moving average is $46.30. The company has a current ratio of 0.75, a quick ratio of 0.65 and a debt-to-equity ratio of 1.58.

Enbridge (NYSE:ENB) (TSE:ENB) last issued 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 firm had revenue of $7.14 billion for the quarter, compared to analyst estimates of $10.56 billion. During the same period in the previous year, the business earned $0.58 EPS. As a group, research analysts anticipate that Enbridge Inc will post 2.14 EPS for the current fiscal year.

Enbridge Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 1st. Shareholders of record on Friday, August 15th were paid a $0.6839 dividend. This represents a $2.74 annualized dividend and a yield of 5.7%. The ex-dividend date was Friday, August 15th. This is an increase from Enbridge’s previous quarterly dividend of $0.68. Enbridge’s dividend payout ratio (DPR) is presently 134.98%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on ENB. Wall Street Zen cut shares of Enbridge from a “hold” rating to a “sell” rating in a research report on Sunday, September 21st. National Bankshares reissued a “sector perform” rating on shares of Enbridge in a research report on Tuesday, August 5th. Zacks Research cut shares of Enbridge from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 17th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Enbridge in a research report on Wednesday, October 8th. Finally, Argus boosted their price objective on shares of Enbridge from $50.00 to $54.00 and gave the company a “buy” rating in a research report on Tuesday, August 12th. Six research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $60.50.

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.