LPL Financial LLC Sells 50,470 Shares of Enbridge Inc $ENB

LPL Financial LLC reduced its stake in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 1.4% in the 4th quarter, HoldingsChannel reports. The firm owned 3,650,150 shares of the pipeline company’s stock after selling 50,470 shares during the quarter. LPL Financial LLC’s holdings in Enbridge were worth $174,587,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Triumph Capital Management bought a new stake in Enbridge in the third quarter valued at $26,000. Turning Point Benefit Group Inc. bought a new stake in shares of Enbridge during the third quarter worth about $28,000. Imprint Wealth LLC bought a new stake in shares of Enbridge during the third quarter worth about $31,000. Garner Asset Management Corp bought a new stake in shares of Enbridge during the fourth quarter worth about $30,000. Finally, Tucker Asset Management LLC bought a new stake in shares of Enbridge during the fourth quarter worth about $38,000. 54.60% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently commented on ENB. BMO Capital Markets reissued a “market perform” rating on shares of Enbridge in a research report on Tuesday, February 17th. Canadian Imperial Bank of Commerce reissued a “neutral” rating on shares of Enbridge in a research report on Monday, May 11th. Weiss Ratings reissued a “buy (b)” rating on shares of Enbridge in a research report on Friday, May 22nd. TD Securities downgraded shares of Enbridge from a “buy” rating to a “hold” rating in a research report on Tuesday, February 17th. Finally, Wall Street Zen downgraded shares of Enbridge from a “hold” rating to a “sell” rating in a research report on Sunday, May 24th. Seven research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $66.50.

Enbridge Stock Up 0.3%

Enbridge stock opened at $55.52 on Wednesday. Enbridge Inc has a fifty-two week low of $43.59 and a fifty-two week high of $58.45. The stock has a market cap of $121.23 billion, a PE ratio of 26.07 and a beta of 0.58. The firm’s 50-day simple moving average is $54.68 and its 200 day simple moving average is $51.49. The company has a debt-to-equity ratio of 1.69, a quick ratio of 0.73 and a current ratio of 0.81.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings results on Friday, May 8th. The pipeline company reported $0.71 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.02. Enbridge had a net margin of 9.83% and a return on equity of 11.21%. The business had revenue of $9.37 billion for the quarter, compared to analysts’ expectations of $8.49 billion. During the same period in the previous year, the company earned $1.03 earnings per share. Research analysts predict that Enbridge Inc will post 2.2 EPS for the current fiscal year.

Enbridge Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Friday, May 15th were issued a dividend of $0.97 per share. The ex-dividend date was Friday, May 15th. This represents a $3.88 annualized dividend and a yield of 7.0%. Enbridge’s payout ratio is 133.80%.

Enbridge Profile

Enbridge Inc is a Calgary, Alberta–based energy infrastructure company that develops, owns and operates a diversified portfolio of energy transportation, distribution and generation assets. Its core activities include the operation of crude oil and liquids pipelines, natural gas transmission and distribution systems, and energy storage facilities. In addition to midstream transportation and storage, Enbridge has expanded into renewable power generation and energy transition projects, including wind, solar and utility-scale generation assets.

The company serves customers primarily in Canada and the United States and has interests in other international energy projects.