Catalyst Capital Advisors LLC Has $18 Million Position in Enbridge Inc $ENB

Catalyst Capital Advisors LLC lessened its holdings in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 2.5% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 397,238 shares of the pipeline company’s stock after selling 10,028 shares during the period. Catalyst Capital Advisors LLC’s holdings in Enbridge were worth $18,003,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the stock. IFP Advisors Inc raised its holdings in shares of Enbridge by 1.2% in the 2nd quarter. IFP Advisors Inc now owns 18,217 shares of the pipeline company’s stock worth $826,000 after buying an additional 221 shares in the last quarter. Capital Investment Counsel Inc raised its stake in Enbridge by 3.1% during the first quarter. Capital Investment Counsel Inc now owns 7,527 shares of the pipeline company’s stock worth $333,000 after acquiring an additional 223 shares in the last quarter. Loudon Investment Management LLC lifted its holdings in shares of 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 during the period. Key Client Fiduciary Advisors LLC lifted its holdings in shares of 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 during the period. Finally, Sound View Wealth Advisors Group LLC boosted its stake in shares of Enbridge by 4.8% in the 1st quarter. Sound View Wealth Advisors Group LLC now owns 5,304 shares of the pipeline company’s stock valued at $235,000 after purchasing an additional 243 shares in the last quarter. 54.60% of the stock is owned by institutional investors and hedge funds.

Enbridge Stock Performance

Enbridge stock opened at $47.20 on Friday. The company has a market cap of $102.94 billion, a PE ratio of 23.25, a PEG ratio of 4.39 and a beta of 0.78. 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 1 year low of $39.73 and a 1 year high of $50.54. The company’s 50-day moving average is $48.44 and its two-hundred day moving average is $46.45.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings results on Friday, August 1st. The pipeline company reported $0.47 earnings per share 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 period in the previous year, the firm posted $0.58 earnings per share. Equities analysts anticipate that Enbridge Inc will post 2.14 earnings per share for the current year.

Enbridge Increases Dividend

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

Analysts Set New Price Targets

Several brokerages recently issued reports on ENB. Weiss Ratings reissued a “buy (b)” rating on shares of Enbridge in a report on Wednesday, October 8th. Cibc World Mkts downgraded Enbridge from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 9th. National Bankshares reissued a “sector perform” rating on shares of Enbridge in a research note on Tuesday, August 5th. Jefferies Financial Group upgraded Enbridge from a “hold” rating to a “buy” rating in a research note on Wednesday, July 23rd. Finally, Scotiabank reiterated a “sector perform” rating on shares of Enbridge in a research report on Monday. Six analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average 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.