LRI Investments LLC Lowers Position in Enbridge Inc $ENB

LRI Investments LLC trimmed its holdings in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 16.5% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 7,884 shares of the pipeline company’s stock after selling 1,557 shares during the period. LRI Investments LLC’s holdings in Enbridge were worth $357,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. CWM LLC raised its stake in Enbridge by 46.3% during the second quarter. CWM LLC now owns 44,015 shares of the pipeline company’s stock valued at $1,995,000 after buying an additional 13,921 shares during the last quarter. Vanguard Personalized Indexing Management LLC increased its holdings in shares of Enbridge by 7.5% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 21,383 shares of the pipeline company’s stock valued at $989,000 after acquiring an additional 1,483 shares in the last quarter. Sather Financial Group Inc bought a new position in shares of Enbridge during the second quarter valued at $348,000. Concurrent Investment Advisors LLC increased its holdings in shares of Enbridge by 5.2% during the second quarter. Concurrent Investment Advisors LLC now owns 51,635 shares of the pipeline company’s stock valued at $2,340,000 after acquiring an additional 2,532 shares in the last quarter. Finally, Comprehensive Money Management Services LLC increased its holdings in shares of Enbridge by 4.5% during the second quarter. Comprehensive Money Management Services LLC now owns 9,975 shares of the pipeline company’s stock valued at $452,000 after acquiring an additional 433 shares in the last quarter. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Enbridge Trading Down 0.7%

NYSE:ENB opened at $47.67 on Monday. The company has a current ratio of 0.75, a quick ratio of 0.65 and a debt-to-equity ratio of 1.58. Enbridge Inc has a 12 month low of $39.73 and a 12 month high of $50.54. The company has a market cap of $103.96 billion, a PE ratio of 23.48, a price-to-earnings-growth ratio of 4.38 and a beta of 0.78. The company has a 50 day simple moving average of $48.41 and a two-hundred day simple moving average of $46.28.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its earnings results on Friday, August 1st. The pipeline company reported $0.47 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.06. Enbridge had a net margin of 10.11% and a return on equity of 10.77%. The business had revenue of $7.14 billion during the quarter, compared to the consensus estimate of $10.56 billion. During the same quarter in the previous year, the firm posted $0.58 EPS. Research analysts forecast 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 Monday, September 1st. Shareholders of record on Friday, August 15th were given a $0.6839 dividend. This is a boost from Enbridge’s previous quarterly dividend of $0.68. The ex-dividend date of this dividend 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 presently 134.98%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. National Bankshares restated a “sector perform” rating on shares of Enbridge in a report on Tuesday, August 5th. CIBC lowered shares of Enbridge from an “outperform” rating to a “neutral” rating in a report on Thursday. Weiss Ratings restated a “buy (b)” rating on shares of Enbridge in a report on Wednesday, October 8th. Cibc World Mkts lowered shares of Enbridge from a “strong-buy” rating to a “hold” rating in a report on Thursday. Finally, Argus boosted their price objective on shares of Enbridge from $50.00 to $54.00 and gave the stock a “buy” rating in a report on Tuesday, August 12th. Six equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $60.50.

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.