Demars Financial Group LLC Sells 346,993 Shares of Enbridge Inc $ENB

Key Points

• Demars Financial Group LLC reduced its holdings in Enbridge Inc by 97.4%, selling 346,993 shares in the second quarter and ending with only 9,189 shares valued at $416,000.
• Several institutional investors, including Vanguard Group and Goldman Sachs, have increased their stakes in Enbridge during the first quarter, indicating continued interest in the company.
• Enbridge recently increased its quarterly dividend to $0.6839 per share, resulting in an annualized dividend of $2.74 and yielding 5.8%, despite a payout ratio of 134.98%.

Demars Financial Group LLC lessened its holdings in shares of Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB by 97.4% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,189 shares of the pipeline company's stock after selling 346,993 shares during the quarter. Demars Financial Group LLC's holdings in Enbridge were worth $416,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in Enbridge by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 93,187,025 shares of the pipeline company's stock worth $4,124,271,000 after buying an additional 1,569,879 shares during the period. GQG Partners LLC boosted its holdings 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 acquiring an additional 1,148,580 shares during the period. TD Asset Management Inc grew its position in shares of Enbridge by 1.6% in the second quarter. TD Asset Management Inc now owns 39,883,394 shares of the pipeline company's stock valued at $1,804,913,000 after purchasing an additional 617,577 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Enbridge by 137.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 32,907,433 shares of the pipeline company's stock valued at $1,458,128,000 after purchasing an additional 19,074,827 shares during the period. Finally, JPMorgan Chase & Co. lifted its holdings in Enbridge by 10.5% during the 1st 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 in the last quarter. Institutional investors own 54.60% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on ENB shares. National Bankshares reiterated a "sector perform" rating on shares of Enbridge in a research report on Tuesday, August 5th. Weiss Ratings reiterated a "buy (b)" rating on shares of Enbridge in a research note on Wednesday, October 8th. Cibc World Mkts lowered shares of Enbridge from a "strong-buy" rating to a "hold" rating in a research report on Thursday, October 9th. CIBC cut shares of Enbridge from an "outperform" rating to a "neutral" rating in a report on Thursday, October 9th. Finally, Jefferies Financial Group raised Enbridge from a "hold" rating to a "buy" rating in a research note on Wednesday, July 23rd. Six analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $60.50.

Enbridge Stock Performance

NYSE ENB opened at $47.07 on Monday. Enbridge Inc has a 52-week low of $39.73 and a 52-week high of $50.54. The company has a fifty day moving average of $48.47 and a 200-day moving average of $46.37. The company has a market capitalization of $102.64 billion, a P/E ratio of 23.18, a P/E/G ratio of 4.32 and a beta of 0.78. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.65 and a current ratio of 0.75.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last released its earnings results on Friday, August 1st. The pipeline company reported $0.47 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 business had revenue of $7.14 billion for the quarter, compared to analysts' expectations of $10.56 billion. During the same quarter in the prior year, the firm earned $0.58 earnings per share. As a group, equities research analysts predict that Enbridge Inc will post 2.14 EPS for the current fiscal year.

Enbridge Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 1st. Investors of record on Friday, August 15th were issued a dividend of $0.6839 per share. The ex-dividend date of this dividend was Friday, August 15th. This represents a $2.74 dividend on an annualized basis and a dividend yield of 5.8%. This is a positive change from Enbridge's previous quarterly dividend of $0.68. Enbridge's payout ratio is 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.