Good Life Advisors LLC Sells 1,160 Shares of Enbridge Inc $ENB

Good Life Advisors LLC lowered its holdings in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 15.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,299 shares of the pipeline company’s stock after selling 1,160 shares during the quarter. Good Life Advisors LLC’s holdings in Enbridge were worth $285,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in ENB. Goldman Sachs Group Inc. boosted its stake in Enbridge by 137.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 32,907,433 shares of the pipeline company’s stock worth $1,458,128,000 after purchasing an additional 19,074,827 shares during the period. Nuveen LLC purchased a new position in shares of Enbridge in the first quarter worth $208,490,000. Geode Capital Management LLC boosted its position in shares of 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 acquiring an additional 2,989,992 shares during the last quarter. Canada Pension Plan Investment Board grew its stake in Enbridge by 39.7% during the first quarter. Canada Pension Plan Investment Board now owns 9,525,987 shares of the pipeline company’s stock valued at $421,675,000 after acquiring an additional 2,707,068 shares in the last quarter. Finally, Maple Brown Abbott Ltd bought a new stake in Enbridge in the 1st quarter valued at $77,976,000. 54.60% of the stock is owned by hedge funds and other institutional investors.

Enbridge Trading Down 0.8%

Shares of ENB stock opened at $47.86 on Friday. The company has a market cap of $104.39 billion, a PE ratio of 23.58, a price-to-earnings-growth ratio of 4.31 and a beta of 0.76. Enbridge Inc has a 1 year low of $39.73 and a 1 year high of $50.54. The stock’s 50 day simple moving average is $48.27 and its two-hundred day simple moving average is $46.83. 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 (NYSE:ENB) (TSE:ENB) last announced its earnings results on Friday, November 7th. The pipeline company reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.06). Enbridge had a return on equity of 10.77% and a net margin of 10.11%.The company had revenue of $7 billion during the quarter, compared to analysts’ expectations of $8.45 billion. During the same quarter last year, the firm posted $0.55 EPS. Research analysts predict that Enbridge Inc will post 2.14 earnings per share for the current year.

Enbridge Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Friday, November 14th will be paid a $0.9425 dividend. This is an increase from Enbridge’s previous quarterly dividend of $0.68. This represents a $3.77 annualized dividend and a dividend yield of 7.9%. The ex-dividend date of this dividend is Friday, November 14th. Enbridge’s payout ratio is currently 147.25%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on ENB shares. CIBC downgraded shares of Enbridge from an “outperform” rating to a “neutral” rating in a report on Thursday, October 9th. National Bankshares reissued a “sector perform” rating on shares of Enbridge in a research note on Monday. Scotiabank reaffirmed a “sector perform” rating on shares of Enbridge in a research note on Monday. BMO Capital Markets reiterated a “market perform” rating on shares of Enbridge in a research report on Monday. Finally, Jefferies Financial Group raised shares of Enbridge from a “hold” rating to a “buy” rating in a report on Wednesday, July 23rd. Six investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Enbridge has an average rating of “Hold” and a consensus price target of $63.00.

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.