Clear Creek Financial Management LLC Sells 6,384 Shares of Enbridge Inc $ENB

Key Points

• Clear Creek Financial Management LLC sold 6,384 shares of Enbridge Inc, reducing its position by 22.3% during the 2nd quarter, leaving it with 22,268 shares valued at approximately $1,009,000.
• Enbridge recently declared a quarterly dividend of $0.6839 per share, marking a slight increase from the previous $0.68, resulting in an annualized dividend yield of 5.7%.
• Analysts have mixed ratings for Enbridge stock, with six analysts rating it a Buy and six a Hold, contributing to a consensus price target of $60.50.

Clear Creek Financial Management LLC decreased its position in shares of Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB by 22.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 22,268 shares of the pipeline company's stock after selling 6,384 shares during the period. Clear Creek Financial Management LLC's holdings in Enbridge were worth $1,009,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of Enbridge by 1.7% in the first quarter. Vanguard Group Inc. now owns 93,187,025 shares of the pipeline company's stock worth $4,124,271,000 after purchasing an additional 1,569,879 shares during the period. GQG Partners LLC increased its position 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 worth $3,338,405,000 after purchasing an additional 1,148,580 shares during the period. TD Asset Management Inc increased its position in shares of Enbridge by 1.3% in the first quarter. TD Asset Management Inc now owns 39,265,817 shares of the pipeline company's stock worth $1,737,602,000 after purchasing an additional 513,058 shares during the period. Goldman Sachs Group Inc. increased its position in shares of Enbridge by 137.9% in the first quarter. Goldman Sachs Group Inc. now owns 32,907,433 shares of the pipeline company's stock worth $1,458,128,000 after purchasing an additional 19,074,827 shares during the period. Finally, JPMorgan Chase & Co. increased its position in shares of Enbridge by 10.5% in the first quarter. JPMorgan Chase & Co. now owns 17,643,681 shares of the pipeline company's stock worth $781,792,000 after purchasing an additional 1,680,116 shares during the period. Institutional investors own 54.60% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Jefferies Financial Group upgraded Enbridge from a "hold" rating to a "buy" rating in a research report on Wednesday, July 23rd. Argus raised their price target on Enbridge from $50.00 to $54.00 and gave the stock a "buy" rating in a research report on Tuesday, August 12th. Wall Street Zen cut Enbridge from a "hold" rating to a "sell" rating in a research report on Sunday, September 21st. CIBC cut Enbridge from an "outperform" rating to a "neutral" rating in a research report on Thursday. Finally, Zacks Research cut Enbridge from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, September 17th. Six research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $60.50.

Enbridge Stock Performance

Enbridge stock opened at $48.01 on Friday. Enbridge Inc has a 12-month low of $39.73 and a 12-month high of $50.54. The company has a quick ratio of 0.65, a current ratio of 0.75 and a debt-to-equity ratio of 1.58. The business's 50-day moving average price is $48.38 and its two-hundred day moving average price is $46.23. The stock has a market cap of $104.70 billion, a PE ratio of 23.65, a P/E/G ratio of 4.49 and a beta of 0.78.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last released its earnings results 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. Enbridge had a return on equity of 10.77% and a net margin of 10.11%.The firm had revenue of $7.14 billion for the quarter, compared to analysts' expectations of $10.56 billion. During the same quarter in the previous year, the business posted $0.58 earnings per share. As a group, analysts expect that Enbridge Inc will post 2.14 earnings per share for the current fiscal year.

Enbridge Increases Dividend

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

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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