Enbridge Inc $ENB Shares Sold by HF Advisory Group LLC

HF Advisory Group LLC lessened its position in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 6.2% during the second quarter, Holdings Channel reports. The fund owned 26,660 shares of the pipeline company’s stock after selling 1,772 shares during the quarter. HF Advisory Group LLC’s holdings in Enbridge were worth $1,208,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of the company. Contravisory Investment Management Inc. acquired a new stake in shares of Enbridge in the 2nd quarter worth about $246,000. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Enbridge by 11.0% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 486,910 shares of the pipeline company’s stock worth $21,787,000 after acquiring an additional 48,353 shares during the period. Mn Services Vermogensbeheer B.V. increased its holdings in shares of Enbridge by 4.5% in the 2nd quarter. Mn Services Vermogensbeheer B.V. now owns 396,600 shares of the pipeline company’s stock worth $17,948,000 after acquiring an additional 17,200 shares during the period. Focus Financial Network Inc. increased its holdings in shares of Enbridge by 12.6% in the 2nd quarter. Focus Financial Network Inc. now owns 19,623 shares of the pipeline company’s stock worth $889,000 after acquiring an additional 2,201 shares during the period. Finally, Chickasaw Capital Management LLC increased its holdings in shares of Enbridge by 1.5% in the 2nd quarter. Chickasaw Capital Management LLC now owns 172,353 shares of the pipeline company’s stock worth $7,811,000 after acquiring an additional 2,469 shares during the period. Institutional investors and hedge funds own 54.60% of the company’s stock.

Enbridge Stock Performance

NYSE:ENB opened at $49.12 on Friday. Enbridge Inc has a twelve month low of $39.73 and a twelve month high of $49.35. The company has a current ratio of 0.75, a quick ratio of 0.65 and a debt-to-equity ratio of 1.58. The company has a 50-day moving average of $47.04 and a 200-day moving average of $45.54. The firm has a market cap of $107.12 billion, a price-to-earnings ratio of 24.20, a price-to-earnings-growth ratio of 4.49 and a beta of 0.80.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings data on Friday, August 1st. The pipeline company reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.06. Enbridge had a net margin of 10.11% and a return on equity of 10.77%. The company had revenue of $7.14 billion during the quarter, compared to analyst estimates of $10.56 billion. During the same quarter last year, the firm posted $0.58 EPS. Analysts forecast that Enbridge Inc will post 2.14 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 1st. Stockholders of record on Friday, August 15th were given a dividend of $0.6839 per share. This is a positive change from Enbridge’s previous quarterly dividend of $0.68. The ex-dividend date was Friday, August 15th. This represents a $2.74 annualized dividend and a dividend yield of 5.6%. Enbridge’s payout ratio is 134.98%.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Wall Street Zen raised shares of Enbridge from a “sell” rating to a “hold” rating in a report on Saturday, September 13th. Jefferies Financial Group raised shares of Enbridge from a “hold” rating to a “buy” rating in a research note on Wednesday, July 23rd. Zacks Research raised shares of Enbridge from a “hold” rating to a “strong-buy” rating in a research note on Friday, August 15th. Argus raised their target price on shares of Enbridge from $50.00 to $54.00 and gave the company a “buy” rating in a research note on Tuesday, August 12th. Finally, National Bankshares reissued a “sector perform” rating on shares of Enbridge in a research note on Tuesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $60.50.

About Enbridge

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.