Apollon Wealth Management LLC Lowers Holdings in Enbridge Inc (NYSE:ENB)

Apollon Wealth Management LLC reduced its stake in Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB by 42.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 36,540 shares of the pipeline company's stock after selling 26,485 shares during the period. Apollon Wealth Management LLC's holdings in Enbridge were worth $1,619,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of the business. Sigma Planning Corp grew its position in Enbridge by 2.7% during the 1st quarter. Sigma Planning Corp now owns 60,303 shares of the pipeline company's stock worth $2,672,000 after acquiring an additional 1,611 shares during the last quarter. Bleakley Financial Group LLC boosted its position in Enbridge by 1.9% in the 1st quarter. Bleakley Financial Group LLC now owns 19,684 shares of the pipeline company's stock valued at $872,000 after buying an additional 367 shares during the last quarter. Marks Group Wealth Management Inc boosted its position in Enbridge by 1.1% in the 1st quarter. Marks Group Wealth Management Inc now owns 58,806 shares of the pipeline company's stock valued at $2,606,000 after buying an additional 624 shares during the last quarter. TruNorth Capital Management LLC boosted its position in Enbridge by 132.2% in the 1st quarter. TruNorth Capital Management LLC now owns 2,863 shares of the pipeline company's stock valued at $127,000 after buying an additional 1,630 shares during the last quarter. Finally, BankPlus Trust Department boosted its position in Enbridge by 8.4% in the 1st quarter. BankPlus Trust Department now owns 43,241 shares of the pipeline company's stock valued at $1,916,000 after buying an additional 3,348 shares during the last quarter. 54.60% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

ENB has been the topic of a number of recent research reports. Raymond James Financial upgraded Enbridge to a "moderate buy" rating in a research report on Wednesday, April 23rd. National Bankshares reissued a "sector perform" rating on shares of Enbridge in a research note on Monday, May 12th. Wall Street Zen raised Enbridge from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd. Royal Bank Of Canada reissued an "outperform" rating and issued a $67.00 price target on shares of Enbridge in a research note on Monday, May 12th. Finally, BMO Capital Markets reissued a "market perform" rating on shares of Enbridge in a research note on Monday, May 12th. Six research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $67.00.

Enbridge Price Performance

ENB traded down $0.45 during trading on Thursday, hitting $44.80. 3,239,227 shares of the stock traded hands, compared to its average volume of 3,976,181. Enbridge Inc has a twelve month low of $36.06 and a twelve month high of $47.44. The company has a market cap of $97.69 billion, a price-to-earnings ratio of 23.09, a PEG ratio of 4.25 and a beta of 0.79. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.73 and a quick ratio of 0.66. The business has a 50 day moving average price of $45.41 and a 200 day moving average price of $44.39.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last issued its quarterly earnings data on Friday, May 9th. The pipeline company reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.04. Enbridge had a net margin of 10.16% and a return on equity of 10.41%. The company had revenue of $7.27 billion for the quarter, compared to analysts' expectations of $10.20 billion. During the same quarter in the previous year, the firm posted $0.92 earnings per share. Equities research analysts forecast that Enbridge Inc will post 2.14 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Sunday, June 1st. Investors of record on Thursday, May 15th were issued a $0.679 dividend. This represents a $2.72 dividend on an annualized basis and a dividend yield of 6.06%. The ex-dividend date was Thursday, May 15th. This is a positive change from Enbridge's previous quarterly dividend of $0.67. Enbridge's dividend payout ratio is currently 140.21%.

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.