Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Decreases Position in Enbridge Inc $ENB

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA reduced its stake in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 3.1% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 21,240 shares of the pipeline company’s stock after selling 675 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings in Enbridge were worth $963,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ENB. Vanguard Group Inc. grew its position in Enbridge by 1.7% in the first quarter. Vanguard Group Inc. now owns 93,187,025 shares of the pipeline company’s stock valued at $4,124,271,000 after acquiring an additional 1,569,879 shares in the last quarter. GQG Partners LLC boosted its stake in shares of Enbridge by 1.5% in the first quarter. GQG Partners LLC now owns 75,439,320 shares of the pipeline company’s stock valued at $3,338,405,000 after purchasing an additional 1,148,580 shares during the period. TD Asset Management Inc grew its holdings in Enbridge by 1.6% during the 2nd quarter. TD Asset Management Inc now owns 39,883,394 shares of the pipeline company’s stock valued at $1,804,913,000 after purchasing an additional 617,577 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in Enbridge by 137.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 32,907,433 shares of the pipeline company’s stock worth $1,458,128,000 after buying an additional 19,074,827 shares during the period. Finally, JPMorgan Chase & Co. lifted its holdings in Enbridge by 10.5% in the 1st 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 in the last quarter. 54.60% of the stock is owned by institutional investors and hedge funds.

Enbridge Stock Performance

ENB stock opened at $47.20 on Friday. 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 stock’s 50 day simple moving average is $48.44 and its 200 day simple moving average is $46.45. The firm has a market cap of $102.94 billion, a P/E ratio of 23.25, a P/E/G ratio of 4.39 and a beta of 0.78.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its 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 company had revenue of $7.14 billion for the quarter, compared to analysts’ expectations of $10.56 billion. During the same period in the prior year, the company earned $0.58 earnings per share. As a group, equities research analysts predict that Enbridge Inc will post 2.14 EPS 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 paid a $0.6839 dividend. The ex-dividend date was Friday, August 15th. This is an increase from Enbridge’s previous quarterly dividend of $0.68. This represents a $2.74 dividend on an annualized basis and a yield of 5.8%. Enbridge’s payout ratio is presently 134.98%.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. CIBC downgraded Enbridge from an “outperform” rating to a “neutral” rating in a research note on Thursday, October 9th. Zacks Research lowered Enbridge from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 17th. Cibc World Mkts lowered Enbridge from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 9th. Weiss Ratings reiterated a “buy (b)” rating on shares of Enbridge in a research note on Wednesday, October 8th. Finally, Argus raised their price target on shares of Enbridge from $50.00 to $54.00 and gave the stock a “buy” rating in a research report on Tuesday, August 12th. Six research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat.com, the company 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.