Enbridge Inc $ENB Holdings Lowered by HBW Advisory Services LLC

Key Points

• HBW Advisory Services LLC has reduced its holdings in Enbridge Inc by 14.5%, owning 72,516 shares worth approximately $3.29 million at the end of Q2.
• Enbridge announced a quarterly dividend of $0.6839, increasing it from the previous $0.68, which reflects an annualized rate of $2.74 with a yield of 5.6%.
• Recent analyst ratings show a positive trend, with upgrades from firms like Argus and Zacks, resulting in a consensus rating of "Moderate Buy" and an average target price of $60.50.

HBW Advisory Services LLC lowered its position in shares of Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB by 14.5% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 72,516 shares of the pipeline company's stock after selling 12,304 shares during the quarter. HBW Advisory Services LLC's holdings in Enbridge were worth $3,286,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Goldman Sachs Group Inc. grew its stake in shares of Enbridge by 137.9% in the 1st 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 last quarter. Nuveen LLC acquired a new position in shares of Enbridge in the 1st quarter worth approximately $208,490,000. Canada Pension Plan Investment Board grew its stake in shares of Enbridge by 39.7% in the 1st quarter. Canada Pension Plan Investment Board now owns 9,525,987 shares of the pipeline company's stock worth $421,675,000 after purchasing an additional 2,707,068 shares during the last quarter. Maple Brown Abbott Ltd acquired a new position in shares of Enbridge in the 1st quarter worth approximately $77,976,000. Finally, JPMorgan Chase & Co. grew its stake in shares of Enbridge by 10.5% in 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 during the last quarter. Institutional investors own 54.60% of the company's stock.

Enbridge Stock Performance

Shares of ENB opened at $49.11 on Friday. The company's 50 day moving average price is $46.65 and its 200 day moving average price is $45.36. Enbridge Inc has a 52 week low of $39.73 and a 52 week high of $49.11. The company has a market capitalization of $107.10 billion, a PE ratio of 24.19, a PEG ratio of 4.46 and a beta of 0.80. 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 announced its quarterly earnings data on Friday, August 1st. The pipeline company reported $0.47 EPS for the quarter, beating analysts' consensus estimates of $0.41 by $0.06. The firm had revenue of $7.14 billion for the quarter, compared to the consensus estimate of $10.56 billion. Enbridge had a net margin of 10.11% and a return on equity of 10.77%. During the same period in the previous year, the firm posted $0.58 earnings per share. Research analysts expect that Enbridge Inc will post 2.14 EPS for the current fiscal year.

Enbridge Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 1st. Shareholders of record on Friday, August 15th were paid a $0.6839 dividend. This represents a $2.74 dividend on an annualized basis and a yield of 5.6%. This is a boost from Enbridge's previous quarterly dividend of $0.68. The ex-dividend date was Friday, August 15th. Enbridge's dividend payout ratio is presently 134.98%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on ENB shares. Argus lifted their price objective on shares of Enbridge from $50.00 to $54.00 and gave the stock a "buy" rating in a research note on Tuesday, August 12th. Jefferies Financial Group raised shares of Enbridge from a "hold" rating to a "buy" rating in a research report on Wednesday, July 23rd. Wall Street Zen raised shares of Enbridge from a "sell" rating to a "hold" rating in a research report on Saturday. Zacks Research raised shares of Enbridge from a "hold" rating to a "strong-buy" rating in a research report on Friday, August 15th. Finally, National Bankshares reissued a "sector perform" rating on shares of Enbridge in a research report on Tuesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Enbridge presently has a consensus rating of "Moderate Buy" and an average target price of $60.50.

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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