Enbridge Inc $ENB is TrueMark Investments LLC’s 7th Largest Position

TrueMark Investments LLC trimmed its position in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 13.2% in the 2nd quarter, HoldingsChannel reports. The firm owned 178,424 shares of the pipeline company’s stock after selling 27,132 shares during the quarter. Enbridge makes up about 1.7% of TrueMark Investments LLC’s portfolio, making the stock its 7th largest position. TrueMark Investments LLC’s holdings in Enbridge were worth $8,086,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. IFP Advisors Inc raised its position in Enbridge by 1.2% during the second quarter. IFP Advisors Inc now owns 18,217 shares of the pipeline company’s stock valued at $826,000 after acquiring an additional 221 shares in the last quarter. Capital Investment Counsel Inc raised its position in Enbridge by 3.1% during the first quarter. Capital Investment Counsel Inc now owns 7,527 shares of the pipeline company’s stock valued at $333,000 after acquiring an additional 223 shares in the last quarter. Loudon Investment Management LLC raised its position in Enbridge by 1.1% during the first quarter. Loudon Investment Management LLC now owns 21,201 shares of the pipeline company’s stock valued at $939,000 after acquiring an additional 240 shares in the last quarter. Key Client Fiduciary Advisors LLC raised its position in Enbridge by 1.7% during the second quarter. Key Client Fiduciary Advisors LLC now owns 14,606 shares of the pipeline company’s stock valued at $662,000 after acquiring an additional 242 shares in the last quarter. Finally, Sound View Wealth Advisors Group LLC raised its position in Enbridge by 4.8% during the first quarter. Sound View Wealth Advisors Group LLC now owns 5,304 shares of the pipeline company’s stock valued at $235,000 after acquiring an additional 243 shares in the last quarter. 54.60% of the stock is currently owned by hedge funds and other institutional investors.

Enbridge Stock Performance

Shares of NYSE:ENB opened at $47.07 on Friday. The company has a debt-to-equity ratio of 1.58, a current ratio of 0.75 and a quick ratio of 0.65. The business’s 50 day moving average price is $48.47 and its 200-day moving average price is $46.36. The firm has a market capitalization of $102.64 billion, a PE ratio of 23.18, a P/E/G ratio of 4.32 and a beta of 0.78. Enbridge Inc has a 1 year low of $39.73 and a 1 year high of $50.54.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings results on Friday, August 1st. The pipeline company reported $0.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.06. The firm had revenue of $7.14 billion for 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 previous year, the company posted $0.58 earnings per share. As a group, equities research analysts expect that Enbridge Inc will post 2.14 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 1st. Stockholders of record on Friday, August 15th were paid a $0.6839 dividend. This is a boost from Enbridge’s previous quarterly dividend of $0.68. This represents a $2.74 dividend on an annualized basis and a dividend yield of 5.8%. The ex-dividend date of this dividend was Friday, August 15th. Enbridge’s dividend payout ratio is presently 134.98%.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Zacks Research cut Enbridge from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 17th. Weiss Ratings reissued a “buy (b)” rating on shares of Enbridge in a report on Wednesday, October 8th. Jefferies Financial Group raised Enbridge from a “hold” rating to a “buy” rating in a report on Wednesday, July 23rd. CIBC lowered Enbridge from an “outperform” rating to a “neutral” rating in a report on Thursday, October 9th. Finally, Argus raised their price objective on Enbridge from $50.00 to $54.00 and gave the company a “buy” rating in a report on Tuesday, August 12th. Six analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price 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.