Drucker Wealth 3.0 LLC Sells 30,619 Shares of Enbridge Inc $ENB

Key Points

• Drucker Wealth 3.0 LLC has reduced its stake in Enbridge Inc by 25.3%, selling 30,619 shares and now holding 90,258 shares valued at $3.95 million.
• Multiple analysts have downgraded their ratings for Enbridge, with CIBC and Cibc World Mkts moving to "neutral" and "hold" ratings, while Jefferies upgraded it to "buy."
• Enbridge announced a quarterly dividend increase, now paying $0.6839 per share, yielding 5.7%, despite a high dividend payout ratio of 134.98%.

Drucker Wealth 3.0 LLC lowered its stake in Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB by 25.3% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 90,258 shares of the pipeline company's stock after selling 30,619 shares during the quarter. Enbridge comprises 0.8% of Drucker Wealth 3.0 LLC's portfolio, making the stock its 29th biggest holding. Drucker Wealth 3.0 LLC's holdings in Enbridge were worth $3,952,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in ENB. Dagco Inc. purchased a new stake in shares of Enbridge during the first quarter worth about $25,000. Garde Capital Inc. purchased a new stake in shares of Enbridge during the first quarter worth about $26,000. Financial Gravity Asset Management Inc. purchased a new stake in shares of Enbridge during the first quarter worth about $28,000. Accent Capital Management LLC purchased a new stake in shares of Enbridge during the first quarter worth about $30,000. Finally, Wolff Wiese Magana LLC grew its position in shares of Enbridge by 91.3% during the first quarter. Wolff Wiese Magana LLC now owns 765 shares of the pipeline company's stock worth $34,000 after purchasing an additional 365 shares in the last quarter. Hedge funds and other institutional investors own 54.60% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on ENB shares. CIBC cut Enbridge from an "outperform" rating to a "neutral" rating in a research report on Thursday. Cibc World Mkts cut Enbridge from a "strong-buy" rating to a "hold" rating in a report on Thursday. Jefferies Financial Group upgraded Enbridge from a "hold" rating to a "buy" rating in a report on Wednesday, July 23rd. Zacks Research cut Enbridge from a "strong-buy" rating to a "hold" rating in a report on Wednesday, September 17th. Finally, Wall Street Zen cut Enbridge from a "hold" rating to a "sell" rating in a report on Sunday, September 21st. Six investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat.com, Enbridge presently has an average rating of "Hold" and a consensus price target of $60.50.

Enbridge Price Performance

Shares of Enbridge stock opened at $47.67 on Friday. The stock has a market cap of $103.96 billion, a price-to-earnings ratio of 23.48, a price-to-earnings-growth ratio of 4.39 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. The stock has a 50 day moving average price of $48.41 and a 200-day moving average price of $46.25. Enbridge Inc has a one year low of $39.73 and a one year high of $50.54.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last announced its earnings results on Friday, August 1st. The pipeline company reported $0.47 EPS for the quarter, topping analysts' consensus estimates of $0.41 by $0.06. The firm had revenue of $7.14 billion during the quarter, compared to analysts' expectations of $10.56 billion. Enbridge had a return on equity of 10.77% and a net margin of 10.11%.During the same quarter in the previous year, the business earned $0.58 EPS. Equities analysts expect that Enbridge Inc will post 2.14 EPS for the current year.

Enbridge Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 1st. Stockholders of record on Friday, August 15th were issued a $0.6839 dividend. This is a positive change from Enbridge's previous quarterly dividend of $0.68. The ex-dividend date was Friday, August 15th. This represents a $2.74 dividend on an annualized basis and a dividend yield of 5.7%. Enbridge's dividend payout ratio (DPR) is presently 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.

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