Texas Yale Capital Corp. Sells 38,002 Shares of Enbridge Inc $ENB

Texas Yale Capital Corp. cut its position in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 25.0% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 113,956 shares of the pipeline company’s stock after selling 38,002 shares during the quarter. Texas Yale Capital Corp.’s holdings in Enbridge were worth $5,164,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the company. Dagco Inc. bought a new stake in shares of Enbridge during the 1st quarter valued at $25,000. Whipplewood Advisors LLC lifted its position in Enbridge by 112.4% during the 2nd quarter. Whipplewood Advisors LLC now owns 582 shares of the pipeline company’s stock valued at $26,000 after acquiring an additional 308 shares during the period. Financial Gravity Asset Management Inc. bought a new stake in Enbridge during the first quarter worth about $28,000. Accent Capital Management LLC bought a new stake in Enbridge during the first quarter worth about $30,000. Finally, FNY Investment Advisers LLC purchased a new stake in Enbridge in the second quarter worth about $36,000. Institutional investors own 54.60% of the company’s stock.

Wall Street Analyst Weigh In

ENB has been the subject of several recent research reports. Wall Street Zen lowered shares of Enbridge from a “hold” rating to a “sell” rating in a report on Sunday, September 21st. Argus lifted their price objective on Enbridge from $50.00 to $54.00 and gave the company a “buy” rating in a research note on Tuesday, August 12th. CIBC downgraded Enbridge from an “outperform” rating to a “neutral” rating in a report on Thursday, October 9th. Scotiabank restated a “sector perform” rating on shares of Enbridge in a report on Monday, October 20th. Finally, Cibc World Mkts downgraded shares of Enbridge from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 9th. Six research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $60.50.

Enbridge Price Performance

Shares of NYSE:ENB opened at $46.93 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. The firm has a market cap of $102.36 billion, a price-to-earnings ratio of 23.12, a price-to-earnings-growth ratio of 4.31 and a beta of 0.76. The business has a 50-day simple moving average of $48.30 and a two-hundred day simple moving average of $46.73. Enbridge Inc has a fifty-two week low of $39.73 and a fifty-two week high of $50.54.

Enbridge Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Friday, November 14th will be given a dividend of $0.9425 per share. This represents a $3.77 dividend on an annualized basis and a yield of 8.0%. This is a positive change from Enbridge’s previous quarterly dividend of $0.68. The ex-dividend date is Friday, November 14th. Enbridge’s payout ratio is currently 134.98%.

Enbridge Company 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.