Sequoia Financial Advisors LLC Trims Stock Position in Enbridge Inc $ENB

Sequoia Financial Advisors LLC trimmed its holdings in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 9.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 98,447 shares of the pipeline company’s stock after selling 9,961 shares during the period. Sequoia Financial Advisors LLC’s holdings in Enbridge were worth $5,330,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. PFG Investments LLC grew its holdings in Enbridge by 0.9% during the 1st quarter. PFG Investments LLC now owns 22,208 shares of the pipeline company’s stock valued at $1,202,000 after buying an additional 202 shares during the last quarter. MIdWestOne Financial Group Inc. raised its position in shares of Enbridge by 4.3% in the fourth quarter. MIdWestOne Financial Group Inc. now owns 4,906 shares of the pipeline company’s stock valued at $235,000 after buying an additional 203 shares during the last quarter. Sumitomo Life Insurance Co. lifted its stake in shares of Enbridge by 1.1% during the 4th quarter. Sumitomo Life Insurance Co. now owns 18,621 shares of the pipeline company’s stock worth $891,000 after purchasing an additional 205 shares during the period. Arete Wealth Advisors LLC lifted its position in Enbridge by 4.4% during the fourth quarter. Arete Wealth Advisors LLC now owns 4,914 shares of the pipeline company’s stock worth $235,000 after buying an additional 208 shares during the period. Finally, Blue Fin Capital Inc. lifted its holdings in shares of Enbridge by 1.3% during the 4th quarter. Blue Fin Capital Inc. now owns 16,028 shares of the pipeline company’s stock worth $767,000 after acquiring an additional 213 shares during the period. 54.60% of the stock is currently owned by institutional investors and hedge funds.

Enbridge Stock Performance

NYSE:ENB opened at $54.64 on Monday. The company has a current ratio of 0.81, a quick ratio of 0.73 and a debt-to-equity ratio of 1.69. The firm has a market capitalization of $119.34 billion, a price-to-earnings ratio of 25.65 and a beta of 0.58. The firm’s fifty day simple moving average is $55.48 and its 200 day simple moving average is $52.69. Enbridge Inc has a twelve month low of $44.13 and a twelve month high of $58.45.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings results on Friday, May 8th. The pipeline company reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.02. Enbridge had a return on equity of 11.21% and a net margin of 9.83%.The firm had revenue of $9.37 billion during the quarter, compared to the consensus estimate of $8.49 billion. During the same period in the prior year, the firm earned $1.03 EPS. As a group, equities research analysts expect that Enbridge Inc will post 2.15 earnings per share for the current fiscal year.

Enbridge Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Friday, May 15th were issued a $0.97 dividend. This represents a $3.88 dividend on an annualized basis and a yield of 7.1%. The ex-dividend date was Friday, May 15th. Enbridge’s dividend payout ratio is currently 133.80%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on ENB shares. Royal Bank Of Canada increased their price target on shares of Enbridge from $76.00 to $79.00 and gave the stock an “outperform” rating in a research note on Monday, May 11th. Wall Street Zen upgraded Enbridge from a “sell” rating to a “hold” rating in a report on Sunday. Canadian Imperial Bank of Commerce reaffirmed a “neutral” rating on shares of Enbridge in a research report on Monday, May 11th. Weiss Ratings reiterated a “buy (b)” rating on shares of Enbridge in a report on Friday, May 22nd. Finally, Scotiabank reissued an “outperform” rating on shares of Enbridge in a research report on Monday, May 11th. Seven equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, Enbridge currently has an average rating of “Moderate Buy” and an average price target of $66.50.

Enbridge Profile

Enbridge Inc is a Calgary, Alberta–based energy infrastructure company that develops, owns and operates a diversified portfolio of energy transportation, distribution and generation assets. Its core activities include the operation of crude oil and liquids pipelines, natural gas transmission and distribution systems, and energy storage facilities. In addition to midstream transportation and storage, Enbridge has expanded into renewable power generation and energy transition projects, including wind, solar and utility-scale generation assets.

The company serves customers primarily in Canada and the United States and has interests in other international energy projects.