Intercontinental Wealth Advisors LLC Decreases Holdings in Enbridge Inc (NYSE:ENB)

Intercontinental Wealth Advisors LLC trimmed its stake in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 10.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 36,108 shares of the pipeline company’s stock after selling 4,046 shares during the period. Intercontinental Wealth Advisors LLC’s holdings in Enbridge were worth $1,303,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. TD Asset Management Inc. grew its holdings in Enbridge by 3.7% during the 1st quarter. TD Asset Management Inc. now owns 46,596,794 shares of the pipeline company’s stock worth $1,688,151,000 after acquiring an additional 1,648,741 shares in the last quarter. CIBC Asset Management Inc lifted its position in shares of Enbridge by 4.1% during the 1st quarter. CIBC Asset Management Inc now owns 22,663,824 shares of the pipeline company’s stock worth $820,833,000 after buying an additional 895,305 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of Enbridge by 10.3% during the 1st quarter. The Manufacturers Life Insurance Company now owns 14,089,169 shares of the pipeline company’s stock worth $510,874,000 after buying an additional 1,320,420 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Enbridge by 5.1% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 13,372,445 shares of the pipeline company’s stock worth $484,469,000 after buying an additional 652,618 shares during the last quarter. Finally, Great West Life Assurance Co. Can lifted its position in shares of Enbridge by 6.8% during the 2nd quarter. Great West Life Assurance Co. Can now owns 13,006,953 shares of the pipeline company’s stock worth $468,753,000 after buying an additional 833,190 shares during the last quarter. 55.45% of the stock is currently owned by institutional investors and hedge funds.

Several research firms recently commented on ENB. Credit Suisse Group downgraded shares of Enbridge from an “outperform” rating to a “neutral” rating in a research report on Thursday, April 25th. Bank of America downgraded shares of Enbridge from a “buy” rating to a “neutral” rating and set a $49.00 price target for the company. in a research report on Tuesday, July 2nd. Goldman Sachs Group began coverage on shares of Enbridge in a research report on Thursday, July 18th. They issued a “neutral” rating for the company. ValuEngine downgraded shares of Enbridge from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Finally, Wolfe Research downgraded shares of Enbridge from an “outperform” rating to a “peer perform” rating and set a $37.00 price target for the company. in a research report on Thursday, June 13th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the company. Enbridge presently has an average rating of “Hold” and a consensus target price of $43.75.

ENB stock traded up $0.21 on Friday, hitting $33.29. The company’s stock had a trading volume of 68,273 shares, compared to its average volume of 3,074,874. The firm has a 50 day moving average of $34.98 and a two-hundred day moving average of $36.14. Enbridge Inc has a 1 year low of $28.82 and a 1 year high of $38.04. The stock has a market cap of $66.95 billion, a price-to-earnings ratio of 16.24, a price-to-earnings-growth ratio of 2.69 and a beta of 0.59. The company has a current ratio of 0.63, a quick ratio of 0.53 and a debt-to-equity ratio of 0.92.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings results on Friday, August 2nd. The pipeline company reported $0.50 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.42 by $0.08. The business had revenue of $9.92 billion for the quarter. Enbridge had a net margin of 9.97% and a return on equity of 8.16%. As a group, equities analysts forecast that Enbridge Inc will post 1.9 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Sunday, September 1st. Shareholders of record on Thursday, August 15th will be issued a $0.559 dividend. This represents a $2.24 dividend on an annualized basis and a yield of 6.72%. This is a positive change from Enbridge’s previous quarterly dividend of $0.52. The ex-dividend date is Wednesday, August 14th. Enbridge’s dividend payout ratio is 106.83%.

In other news, insider Albert Monaco bought 7,848 shares of Enbridge stock in a transaction on Wednesday, June 5th. The shares were bought at an average cost of $49.81 per share, for a total transaction of $390,908.88. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.42% of the stock is currently owned by corporate insiders.

Enbridge Company Profile

Enbridge Inc operates as an energy infrastructure company in Canada and the United States. The company operates through five segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution, Green Power and Transmission, and Energy Services. The Liquids Pipelines segment operates common carrier and contract crude oil, natural gas liquids (NGL), and refined products pipelines and terminals.

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Institutional Ownership by Quarter for Enbridge (NYSE:ENB)

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