Enbridge Inc $ENB Shares Sold by Dupree Financial Group LLC

Key Points

• Dupree Financial Group LLC reduced its stake in Enbridge Inc by 18.7%, selling 76,230 shares during the second quarter, leaving them with a total of 332,255 shares valued at approximately $15 million.
• Enbridge recently announced a quarterly dividend increase to $0.6839 per share, resulting in an annualized dividend of $2.74 and a yield of 5.8%, with a high dividend payout ratio of 134.98%.
• The company reported Q2 earnings of $0.47 EPS, surpassing analysts' expectations, despite revenue of $7.14 billion falling short of the forecasted $10.56 billion.

Dupree Financial Group LLC decreased its stake in Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB by 18.7% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 332,255 shares of the pipeline company's stock after selling 76,230 shares during the quarter. Enbridge makes up 5.9% of Dupree Financial Group LLC's holdings, making the stock its 2nd largest position. Dupree Financial Group LLC's holdings in Enbridge were worth $15,058,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Dagco Inc. acquired a new stake in shares of Enbridge during the 1st quarter valued at about $25,000. Garde Capital Inc. purchased a new stake in shares of Enbridge during the first quarter worth approximately $26,000. Financial Gravity Asset Management Inc. purchased a new position in Enbridge in the 1st quarter valued at $28,000. Accent Capital Management LLC purchased a new stake in shares of Enbridge during the first quarter worth $30,000. Finally, Private Wealth Asset Management LLC lifted its stake in shares of Enbridge by 289.7% in the second quarter. Private Wealth Asset Management LLC now owns 834 shares of the pipeline company's stock worth $38,000 after buying an additional 620 shares in the last quarter. Institutional investors and hedge funds own 54.60% of the company's stock.

Enbridge Trading Up 0.3%

ENB stock opened at $47.22 on Tuesday. 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 company has a market cap of $102.97 billion, a price-to-earnings ratio of 23.26, a PEG ratio of 4.32 and a beta of 0.78. The business has a fifty day simple moving average of $48.46 and a 200-day simple moving average of $46.40. Enbridge Inc has a 52 week low of $39.73 and a 52 week high of $50.54.

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

Enbridge Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 1st. Stockholders of record on Friday, August 15th were given 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 5.8%. Enbridge's dividend payout ratio is presently 134.98%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Weiss Ratings reiterated a "buy (b)" rating on shares of Enbridge in a research report on Wednesday, October 8th. Cibc World Mkts cut Enbridge from a "strong-buy" rating to a "hold" rating in a report on Thursday, October 9th. Argus increased their price target on shares of Enbridge from $50.00 to $54.00 and gave the stock a "buy" rating in a research report on Tuesday, August 12th. Zacks Research downgraded shares of Enbridge from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, September 17th. Finally, Scotiabank reaffirmed a "sector perform" rating on shares of Enbridge in a research report on Monday. Six research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company's stock. Based on data from MarketBeat, Enbridge has an average rating of "Hold" and a consensus price target 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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