Laurel Wealth Advisors LLC Sells 1,171 Shares of Enbridge Inc. (NYSE:ENB)

Laurel Wealth Advisors LLC lowered its position in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 1.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 62,760 shares of the pipeline company’s stock after selling 1,171 shares during the quarter. Laurel Wealth Advisors LLC’s holdings in Enbridge were worth $2,781,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Wintrust Investments LLC lifted its stake in Enbridge by 47.8% in the fourth quarter. Wintrust Investments LLC now owns 736 shares of the pipeline company’s stock worth $31,000 after purchasing an additional 238 shares during the last quarter. GeoWealth Management LLC grew its holdings in shares of Enbridge by 436.4% during the 4th quarter. GeoWealth Management LLC now owns 751 shares of the pipeline company’s stock worth $32,000 after acquiring an additional 611 shares during the period. Capital A Wealth Management LLC bought a new stake in shares of Enbridge in the 4th quarter worth approximately $39,000. Hopwood Financial Services Inc. bought a new stake in shares of Enbridge in the 4th quarter worth approximately $42,000. Finally, SJS Investment Consulting Inc. boosted its position in shares of Enbridge by 731.7% in the 1st quarter. SJS Investment Consulting Inc. now owns 1,023 shares of the pipeline company’s stock worth $45,000 after purchasing an additional 900 shares in the last quarter. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Citigroup assumed coverage on Enbridge in a research report on Friday, April 4th. They issued a “buy” rating on the stock. BMO Capital Markets reiterated a “market perform” rating on shares of Enbridge in a research note on Monday, May 12th. National Bankshares restated a “sector perform” rating on shares of Enbridge in a research note on Monday, May 12th. Raymond James upgraded Enbridge to a “moderate buy” rating in a research note on Wednesday, April 23rd. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $67.00 price objective on shares of Enbridge in a report on Monday, May 12th. Six equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $67.00.

Enbridge Stock Up 0.0%

Shares of NYSE ENB opened at $45.83 on Wednesday. The company has a market cap of $99.92 billion, a P/E ratio of 26.65, a PEG ratio of 3.92 and a beta of 0.81. The firm has a 50-day simple moving average of $45.19 and a two-hundred day simple moving average of $43.91. Enbridge Inc. has a 1 year low of $34.60 and a 1 year high of $47.44. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.55 and a quick ratio of 0.54.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its earnings results on Friday, May 9th. The pipeline company reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.04. The business had revenue of $7.27 billion for the quarter, compared to analyst estimates of $10.20 billion. Enbridge had a net margin of 10.04% and a return on equity of 10.16%. During the same period last year, the company posted $0.92 earnings per share. Research analysts anticipate that Enbridge Inc. will post 2.14 earnings per share for the current year.

Enbridge Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Sunday, June 1st. Stockholders of record on Thursday, May 15th were given a dividend of $0.679 per share. The ex-dividend date was Thursday, May 15th. This is a positive change from Enbridge’s previous quarterly dividend of $0.67. This represents a $2.72 dividend on an annualized basis and a dividend yield of 5.93%. Enbridge’s dividend payout ratio (DPR) is 139.69%.

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.