Ethos Financial Group LLC Cuts Position in Enbridge Inc $ENB

Ethos Financial Group LLC cut its holdings in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 23.0% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 4,614 shares of the pipeline company’s stock after selling 1,382 shares during the period. Ethos Financial Group LLC’s holdings in Enbridge were worth $209,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. Dagco Inc. purchased a new position in Enbridge in the first quarter worth $25,000. Whipplewood Advisors LLC increased its position in shares of Enbridge by 112.4% during the 2nd quarter. Whipplewood Advisors LLC now owns 582 shares of the pipeline company’s stock valued at $26,000 after purchasing an additional 308 shares during the last quarter. Financial Gravity Asset Management Inc. purchased a new stake in shares of Enbridge during the 1st quarter valued at $28,000. Accent Capital Management LLC bought a new stake in shares of Enbridge during the 1st quarter worth $30,000. Finally, FNY Investment Advisers LLC purchased a new position in shares of Enbridge in the 2nd quarter worth about $36,000. 54.60% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently weighed in on ENB. Argus increased their price target 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. Wall Street Zen cut shares of Enbridge from a “hold” rating to a “sell” rating in a research note on Sunday, September 21st. Jefferies Financial Group raised shares of Enbridge from a “hold” rating to a “buy” rating in a research report on Wednesday, July 23rd. Weiss Ratings restated a “buy (b)” rating on shares of Enbridge in a research note on Wednesday. Finally, National Bankshares reiterated a “sector perform” rating on shares of Enbridge in a research note on Tuesday, August 5th. Six investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $60.50.

Enbridge Price Performance

NYSE ENB opened at $47.69 on Friday. The company has a quick ratio of 0.65, a current ratio of 0.75 and a debt-to-equity ratio of 1.58. The company has a market cap of $104.00 billion, a PE ratio of 23.49, a price-to-earnings-growth ratio of 4.31 and a beta of 0.76. Enbridge Inc has a 52 week low of $39.73 and a 52 week high of $50.54. The firm’s 50-day simple moving average is $48.28 and its two-hundred day simple moving average is $46.75.

Enbridge Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Friday, November 14th will be issued a $0.9425 dividend. This is a boost from Enbridge’s previous quarterly dividend of $0.68. The ex-dividend date of this dividend is Friday, November 14th. This represents a $3.77 annualized dividend and a yield of 7.9%. Enbridge’s payout ratio is 134.98%.

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.