Callahan Advisors LLC Sells 8,662 Shares of Enbridge Inc $ENB

Key Points

• Callahan Advisors LLC has reduced its holdings in Enbridge Inc by 6.8%, now owning 118,310 shares valued at approximately $5.36 million after selling 8,662 shares in the second quarter.
• Enbridge recently reported earnings of $0.47 per share, exceeding analyst expectations of $0.41, though revenue fell short at $7.14 billion.
• The company declared a quarterly dividend of $0.6839 per share, marking an increase from the previous dividend, leading to an annualized yield of 5.7%.

Callahan Advisors LLC trimmed its holdings in Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB by 6.8% in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 118,310 shares of the pipeline company's stock after selling 8,662 shares during the quarter. Callahan Advisors LLC's holdings in Enbridge were worth $5,362,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Dagco Inc. bought a new stake in shares of Enbridge during the 1st quarter valued at about $25,000. Garde Capital Inc. bought a new stake in shares of Enbridge during the 1st quarter valued at about $26,000. Financial Gravity Asset Management Inc. bought a new stake in shares of Enbridge during the 1st quarter valued at about $28,000. Accent Capital Management LLC bought a new stake in shares of Enbridge during the 1st quarter valued at about $30,000. Finally, Wolff Wiese Magana LLC grew its stake in shares of Enbridge by 91.3% during the 1st quarter. Wolff Wiese Magana LLC now owns 765 shares of the pipeline company's stock valued at $34,000 after purchasing an additional 365 shares during the period. 54.60% of the stock is currently owned by institutional investors.

Enbridge Trading Up 0.2%

Shares of NYSE:ENB opened at $47.62 on Thursday. The stock has a 50 day moving average of $48.46 and a 200 day moving average of $46.32. The company has a market cap of $103.84 billion, a PE ratio of 23.46, a price-to-earnings-growth ratio of 4.36 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 12-month low of $39.73 and a 12-month high of $50.54.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last announced its quarterly earnings data on Friday, August 1st. The pipeline company reported $0.47 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.41 by $0.06. The company had revenue of $7.14 billion during the quarter, compared to the consensus estimate of $10.56 billion. Enbridge had a return on equity of 10.77% and a net margin of 10.11%.During the same period in the previous year, the company posted $0.58 EPS. As a group, equities research analysts expect that Enbridge Inc will post 2.14 EPS for the current year.

Enbridge Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 1st. Investors of record on Friday, August 15th were issued a $0.6839 dividend. The ex-dividend date of this dividend was Friday, August 15th. This represents a $2.74 dividend on an annualized basis and a yield of 5.7%. This is a boost from Enbridge's previous quarterly dividend of $0.68. Enbridge's payout ratio is presently 134.98%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on ENB. Jefferies Financial Group upgraded Enbridge from a "hold" rating to a "buy" rating in a research note on Wednesday, July 23rd. CIBC downgraded Enbridge from an "outperform" rating to a "neutral" rating in a research note on Thursday, October 9th. Zacks Research downgraded Enbridge from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, September 17th. Wall Street Zen downgraded Enbridge from a "hold" rating to a "sell" rating in a research note on Sunday, September 21st. Finally, Argus boosted 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. Six investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus 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.

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