Enbridge Inc (NYSE:ENB) Stock Holdings Lowered by ERTS Wealth Advisors LLC

ERTS Wealth Advisors LLC trimmed its holdings in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 30.5% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 13,264 shares of the pipeline company’s stock after selling 5,822 shares during the period. ERTS Wealth Advisors LLC’s holdings in Enbridge were worth $588,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Jamison Private Wealth Management Inc. boosted its stake in shares of Enbridge by 15.9% during the 1st quarter. Jamison Private Wealth Management Inc. now owns 27,171 shares of the pipeline company’s stock worth $1,204,000 after acquiring an additional 3,733 shares in the last quarter. Advisor Resource Council purchased a new stake in shares of Enbridge during the first quarter valued at $727,000. Meriwether Wealth & Planning LLC boosted its position in shares of Enbridge by 6.3% in the 1st quarter. Meriwether Wealth & Planning LLC now owns 10,448 shares of the pipeline company’s stock valued at $463,000 after purchasing an additional 615 shares during the period. Abundance Wealth Counselors boosted its position in shares of Enbridge by 6.7% in the 1st quarter. Abundance Wealth Counselors now owns 30,888 shares of the pipeline company’s stock valued at $1,356,000 after purchasing an additional 1,926 shares during the period. Finally, Good Steward Wealth Advisors LLC purchased a new position in Enbridge in the 1st quarter worth about $637,000. Institutional investors and hedge funds own 54.60% of the company’s stock.

Enbridge Stock Performance

Shares of ENB opened at $44.71 on Friday. The company has a market capitalization of $97.47 billion, a PE ratio of 23.04, a PEG ratio of 4.24 and a beta of 0.81. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.66 and a current ratio of 0.73. The company’s 50 day moving average price is $45.80 and its 200 day moving average price is $44.05. Enbridge Inc has a 52 week low of $34.61 and a 52 week high of $47.44.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings results on Friday, May 9th. The pipeline company reported $0.72 EPS for the quarter, beating the consensus estimate of $0.68 by $0.04. Enbridge had a net margin of 10.16% and a return on equity of 10.41%. The business had revenue of $7.27 billion for the quarter, compared to analysts’ expectations of $10.20 billion. During the same period in the previous year, the company posted $0.92 EPS. Research analysts expect that Enbridge Inc will post 2.14 EPS for the current fiscal year.

Enbridge Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Sunday, June 1st. Shareholders of record on Thursday, May 15th were given a $0.679 dividend. This is a positive change from Enbridge’s previous quarterly dividend of $0.67. This represents a $2.72 annualized dividend and a yield of 6.08%. The ex-dividend date of this dividend was Thursday, May 15th. Enbridge’s dividend payout ratio is presently 139.69%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on ENB. CIBC reaffirmed an “outperform” rating on shares of Enbridge in a research note on Wednesday, March 5th. Raymond James Financial upgraded shares of Enbridge to a “moderate buy” rating in a research report on Wednesday, April 23rd. Citigroup initiated coverage on shares of Enbridge in a research report on Friday, April 4th. They set a “buy” rating on the stock. National Bankshares restated a “sector perform” rating on shares of Enbridge in a report on Monday, May 12th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and set a $67.00 price target on shares of Enbridge in a report on Monday, May 12th. Six investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $67.00.

Enbridge Company 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.