Enbridge Inc $ENB Shares Sold by Prospera Financial Services Inc

Prospera Financial Services Inc cut its holdings in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 3.8% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 36,133 shares of the pipeline company’s stock after selling 1,417 shares during the period. Prospera Financial Services Inc’s holdings in Enbridge were worth $1,638,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. IFP Advisors Inc boosted its position in Enbridge by 1.2% during the 2nd quarter. IFP Advisors Inc now owns 18,217 shares of the pipeline company’s stock worth $826,000 after acquiring an additional 221 shares during the period. Loudon Investment Management LLC raised its stake 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 purchasing an additional 240 shares in the last quarter. Key Client Fiduciary Advisors LLC lifted its holdings in Enbridge by 1.7% in the second quarter. Key Client Fiduciary Advisors LLC now owns 14,606 shares of the pipeline company’s stock worth $662,000 after purchasing an additional 242 shares during the period. Sound View Wealth Advisors Group LLC grew its position in 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 buying an additional 243 shares in the last quarter. Finally, Westside Investment Management Inc. increased its stake in Enbridge by 30.5% during the 2nd quarter. Westside Investment Management Inc. now owns 1,107 shares of the pipeline company’s stock valued at $50,000 after buying an additional 259 shares during the period. 54.60% of the stock is owned by institutional investors.

Enbridge Trading Up 0.7%

Shares of NYSE ENB opened at $48.27 on Wednesday. The company has a quick ratio of 0.65, a current ratio of 0.75 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 $105.28 billion, a price-to-earnings ratio of 23.78, a P/E/G ratio of 4.31 and a beta of 0.76. The business has a fifty day simple moving average of $48.27 and a 200-day simple moving average of $46.79.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings data on Friday, November 7th. The pipeline company reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.06). Enbridge had a return on equity of 10.77% and a net margin of 10.11%.The company had revenue of $7 billion for the quarter, compared to analyst estimates of $8.45 billion. During the same quarter in the previous year, the firm posted $0.55 EPS. Sell-side analysts predict that Enbridge Inc will post 2.14 EPS for the current year.

Enbridge Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Friday, November 14th will be given a $0.9425 dividend. This is a boost from Enbridge’s previous quarterly dividend of $0.68. The ex-dividend date is Friday, November 14th. This represents a $3.77 annualized dividend and a dividend yield of 7.8%. Enbridge’s payout ratio is currently 147.25%.

Analysts Set New Price Targets

ENB has been the topic of a number of research analyst reports. Zacks Research lowered shares of Enbridge from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 17th. BMO Capital Markets reissued a “market perform” rating on shares of Enbridge in a research note on Monday. Weiss Ratings restated a “buy (b)” rating on shares of Enbridge in a report on Wednesday, November 5th. Cibc World Mkts lowered Enbridge from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 9th. Finally, Scotiabank reiterated a “sector perform” rating on shares of Enbridge in a research report on Monday. Six equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $63.00.

About Enbridge

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.