Enbridge Inc $ENB Shares Sold by GLOBALT Investments LLC GA

Key Points

• GLOBALT Investments LLC reduced its stake in Enbridge Inc by 6.8%, now holding 182,652 shares worth approximately $8.28 million.
• Enbridge recently raised its quarterly dividend to $0.6839 per share, which equates to an annualized yield of 5.8%.
• Analysts have mixed ratings on Enbridge, with six giving it a "buy" rating and eight a "hold," reflecting a consensus price target of $60.50 per share.

GLOBALT Investments LLC GA lessened its stake in shares of Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB by 6.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 182,652 shares of the pipeline company's stock after selling 13,335 shares during the quarter. GLOBALT Investments LLC GA's holdings in Enbridge were worth $8,278,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Brighton Jones LLC purchased a new position in Enbridge during the fourth quarter worth about $261,000. Bessemer Group Inc. boosted its stake in shares of Enbridge by 87.1% in the first quarter. Bessemer Group Inc. now owns 170,097 shares of the pipeline company's stock valued at $7,535,000 after buying an additional 79,181 shares in the last quarter. Golden State Wealth Management LLC grew its holdings in Enbridge by 527.0% during the first quarter. Golden State Wealth Management LLC now owns 15,274 shares of the pipeline company's stock worth $677,000 after acquiring an additional 12,838 shares during the period. Alpine Bank Wealth Management purchased a new position in Enbridge in the first quarter worth $109,000. Finally, Security National Bank lifted its holdings in Enbridge by 160.4% in the first quarter. Security National Bank now owns 1,172 shares of the pipeline company's stock valued at $52,000 after acquiring an additional 722 shares during the period. 54.60% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently commented on ENB shares. Weiss Ratings reiterated a "buy (b)" rating on shares of Enbridge in a research note on Wednesday, October 8th. National Bankshares reissued a "sector perform" rating on shares of Enbridge in a research note on Tuesday, August 5th. Jefferies Financial Group raised Enbridge from a "hold" rating to a "buy" rating in a research note on Wednesday, July 23rd. Wall Street Zen downgraded Enbridge from a "hold" rating to a "sell" rating in a research report on Sunday, September 21st. Finally, Zacks Research lowered Enbridge from a "strong-buy" rating to a "hold" rating in a report on Wednesday, September 17th. Six 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.com, the stock has a consensus rating of "Hold" and a consensus price target of $60.50.

Enbridge Trading Down 1.1%

Shares of Enbridge stock opened at $47.20 on Friday. Enbridge Inc has a 1 year low of $39.73 and a 1 year high of $50.54. The company has a debt-to-equity ratio of 1.58, a current ratio of 0.75 and a quick ratio of 0.65. The business has a 50 day moving average price of $48.44 and a 200 day moving average price of $46.45. The company has a market capitalization of $102.94 billion, a P/E ratio of 23.25, a P/E/G ratio of 4.39 and a beta of 0.78.

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, beating analysts' consensus estimates of $0.41 by $0.06. The firm had revenue of $7.14 billion for 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 prior year, the firm earned $0.58 EPS. Sell-side analysts anticipate that Enbridge Inc will post 2.14 EPS 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 issued a dividend of $0.6839 per share. This represents a $2.74 dividend on an annualized basis and a dividend yield of 5.8%. This is a boost from Enbridge's previous quarterly dividend of $0.68. The ex-dividend date was Friday, August 15th. Enbridge's payout ratio is presently 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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