Intrua Financial LLC Has $3.39 Million Stake in Enbridge Inc $ENB

Intrua Financial LLC lessened its stake in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 11.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 74,711 shares of the pipeline company’s stock after selling 9,356 shares during the period. Intrua Financial LLC’s holdings in Enbridge were worth $3,386,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ENB. Fiera Capital Corp grew its holdings in shares of Enbridge by 89.3% during the 2nd quarter. Fiera Capital Corp now owns 105,596 shares of the pipeline company’s stock worth $4,785,000 after purchasing an additional 49,828 shares in the last quarter. Thompson Davis & CO. Inc. acquired a new position in shares of Enbridge in the second quarter valued at $272,000. WASHINGTON TRUST Co lifted its position in Enbridge by 5.6% in the second quarter. WASHINGTON TRUST Co now owns 6,705 shares of the pipeline company’s stock worth $304,000 after purchasing an additional 354 shares during the period. Cherokee Insurance Co bought a new position in Enbridge in the second quarter worth $517,000. Finally, Geode Capital Management LLC boosted its stake in Enbridge by 20.2% during the second quarter. Geode Capital Management LLC now owns 17,785,430 shares of the pipeline company’s stock worth $818,620,000 after buying an additional 2,989,992 shares in the last quarter. 54.60% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Cibc World Mkts downgraded shares of Enbridge from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 9th. Wall Street Zen downgraded Enbridge from a “hold” rating to a “sell” rating in a report on Sunday, September 21st. Weiss Ratings reiterated a “buy (b)” rating on shares of Enbridge in a research note on Wednesday, November 5th. Scotiabank reaffirmed a “sector perform” rating on shares of Enbridge in a research note on Monday. Finally, Argus increased their price objective on Enbridge from $50.00 to $54.00 and gave the stock a “buy” rating in a research note on Tuesday, August 12th. Six investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $63.00.

Enbridge Stock Down 0.9%

NYSE ENB opened at $48.28 on Friday. The stock’s 50 day simple moving average is $48.28 and its 200 day simple moving average is $46.82. The company has a debt-to-equity ratio of 1.58, a current ratio of 0.75 and a quick ratio of 0.65. Enbridge Inc has a one year low of $39.73 and a one year high of $50.54. The firm has a market cap of $105.29 billion, a PE ratio of 23.78, a price-to-earnings-growth ratio of 4.31 and a beta of 0.76.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings data on Friday, November 7th. The pipeline company reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.06). The business had revenue of $7 billion during the quarter, compared to analyst estimates of $8.45 billion. Enbridge had a return on equity of 10.77% and a net margin of 10.11%.During the same period in the prior year, the firm posted $0.55 EPS. As a group, sell-side analysts forecast that Enbridge Inc will post 2.14 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Friday, November 14th will be issued a dividend of $0.9425 per share. The ex-dividend date of this dividend is Friday, November 14th. This represents a $3.77 dividend on an annualized basis and a yield of 7.8%. This is an increase from Enbridge’s previous quarterly dividend of $0.68. Enbridge’s payout ratio is currently 147.25%.

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.