Westwood Holdings Group Inc. trimmed its holdings in shares of Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB by 0.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,256,974 shares of the pipeline company's stock after selling 5,743 shares during the period. Westwood Holdings Group Inc. owned approximately 0.06% of Enbridge worth $55,697,000 at the end of the most recent reporting period.
Other large investors also recently modified their holdings of the company. Garde Capital Inc. acquired a new position in shares of Enbridge during the first quarter valued at $26,000. Financial Gravity Asset Management Inc. acquired a new position in shares of Enbridge during the first quarter valued at $28,000. Accent Capital Management LLC acquired a new position in shares of Enbridge during the first quarter valued at $30,000. GeoWealth Management LLC increased its holdings in shares of Enbridge by 436.4% during the fourth quarter. GeoWealth Management LLC now owns 751 shares of the pipeline company's stock valued at $32,000 after purchasing an additional 611 shares during the period. Finally, Wolff Wiese Magana LLC increased its holdings 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 valued at $34,000 after purchasing an additional 365 shares during the period. 54.60% of the stock is owned by institutional investors and hedge funds.
Enbridge Trading Up 0.3%
NYSE:ENB opened at $46.74 on Wednesday. The company has a quick ratio of 0.66, a current ratio of 0.75 and a debt-to-equity ratio of 1.58. Enbridge Inc has a 1-year low of $37.04 and a 1-year high of $47.44. The firm has a market capitalization of $101.92 billion, a price-to-earnings ratio of 23.03, a price-to-earnings-growth ratio of 4.34 and a beta of 0.79. The stock has a fifty day simple moving average of $45.42 and a 200 day simple moving average of $44.59.
Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last released its quarterly earnings results on Friday, August 1st. The pipeline company reported $0.47 earnings per share for the quarter, beating analysts' consensus estimates of $0.41 by $0.06. Enbridge had a return on equity of 10.77% and a net margin of 10.11%. The business had revenue of $7.14 billion during the quarter, compared to analyst estimates of $10.56 billion. During the same quarter last year, the company posted $0.58 EPS. Sell-side analysts forecast that Enbridge Inc will post 2.14 earnings per share for the current year.
Enbridge Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, September 1st. Investors of record on Friday, August 15th will be given a $0.6839 dividend. This is a positive change from Enbridge's previous quarterly dividend of $0.68. The ex-dividend date is Friday, August 15th. This represents a $2.74 dividend on an annualized basis and a dividend yield of 5.9%. Enbridge's dividend payout ratio is 133.99%.
Analyst Upgrades and Downgrades
A number of research firms recently issued reports on ENB. Jefferies Financial Group raised Enbridge from a "hold" rating to a "buy" rating in a report on Wednesday, July 23rd. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $67.00 target price on shares of Enbridge in a report on Monday, May 12th. Raymond James Financial raised Enbridge to a "moderate buy" rating in a report on Wednesday, April 23rd. National Bankshares reaffirmed a "sector perform" rating on shares of Enbridge in a report on Monday, May 12th. Finally, Wall Street Zen raised Enbridge from a "sell" rating to a "hold" rating in a report on Thursday, May 22nd. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $67.00.
Check Out Our Latest Research Report on ENB
About Enbridge
(
Free Report)
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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