Advocate Group LLC Sells 2,514 Shares of Enbridge Inc $ENB

Advocate Group LLC decreased its position in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 1.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 245,923 shares of the pipeline company’s stock after selling 2,514 shares during the period. Enbridge comprises 2.0% of Advocate Group LLC’s holdings, making the stock its 10th largest holding. Advocate Group LLC’s holdings in Enbridge were worth $11,145,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in ENB. Goldman Sachs Group Inc. lifted its stake in Enbridge by 137.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 32,907,433 shares of the pipeline company’s stock valued at $1,458,128,000 after purchasing an additional 19,074,827 shares during the last quarter. Nuveen LLC bought a new position in Enbridge in the 1st quarter valued at approximately $208,490,000. Canada Pension Plan Investment Board lifted its stake in Enbridge by 39.7% in the 1st quarter. Canada Pension Plan Investment Board now owns 9,525,987 shares of the pipeline company’s stock valued at $421,675,000 after purchasing an additional 2,707,068 shares during the last quarter. Maple Brown Abbott Ltd bought a new position in shares of Enbridge during the first quarter valued at $77,976,000. Finally, JPMorgan Chase & Co. increased its position in shares of Enbridge by 10.5% during the first quarter. JPMorgan Chase & Co. now owns 17,643,681 shares of the pipeline company’s stock worth $781,792,000 after buying an additional 1,680,116 shares during the period. Institutional investors own 54.60% of the company’s stock.

Enbridge Stock Down 0.7%

ENB opened at $47.67 on Friday. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.65 and a current ratio of 0.75. Enbridge Inc has a one year low of $39.73 and a one year high of $50.54. The business’s fifty day moving average is $48.41 and its two-hundred day moving average is $46.26. The company has a market cap of $103.96 billion, a price-to-earnings ratio of 23.48, a PEG ratio of 4.37 and a beta of 0.78.

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

Enbridge Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 1st. Shareholders of record on Friday, August 15th were paid a dividend of $0.6839 per share. This is a boost from Enbridge’s previous quarterly dividend of $0.68. The ex-dividend date was Friday, August 15th. This represents a $2.74 dividend on an annualized basis and a yield of 5.7%. Enbridge’s payout ratio is 134.98%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Wall Street Zen lowered shares of Enbridge from a “hold” rating to a “sell” rating in a research report on Sunday, September 21st. Cibc World Mkts downgraded shares of Enbridge from a “strong-buy” rating to a “hold” rating in a research report on Thursday. CIBC cut shares of Enbridge from an “outperform” rating to a “neutral” rating in a research note on Thursday. Jefferies Financial Group raised shares of Enbridge from a “hold” rating to a “buy” rating in a report on Wednesday, July 23rd. Finally, Zacks Research lowered shares of Enbridge from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 17th. Six analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Enbridge presently has a consensus rating of “Hold” 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.