Enbridge Inc $ENB Position Decreased by Good Steward Wealth Advisors LLC

Key Points

• Good Steward Wealth Advisors LLC reduced its stake in Enbridge Inc by 42.9% in the second quarter, owning 8,205 shares worth $372,000 after selling 6,171 shares.
• Enbridge recently increased its quarterly dividend to $0.6839 per share, leading to an annualized yield of 5.6%, despite a high dividend payout ratio of 134.98%.
• The company reported earnings of $0.47 EPS for the last quarter, exceeding analysts' expectations, although its revenue fell short at $7.14 billion compared to estimations of $10.56 billion.

Good Steward Wealth Advisors LLC reduced its position in shares of Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB by 42.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,205 shares of the pipeline company's stock after selling 6,171 shares during the period. Good Steward Wealth Advisors LLC's holdings in Enbridge were worth $372,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in ENB. Dagco Inc. acquired a new stake in Enbridge in the first quarter valued at $25,000. Garde Capital Inc. acquired a new stake in Enbridge in the first quarter valued at $26,000. Financial Gravity Asset Management Inc. acquired a new stake in Enbridge in the first quarter valued at $28,000. Accent Capital Management LLC acquired a new stake in Enbridge in the first quarter valued at $30,000. Finally, Wolff Wiese Magana LLC raised its holdings in Enbridge by 91.3% in the first quarter. Wolff Wiese Magana LLC now owns 765 shares of the pipeline company's stock valued at $34,000 after acquiring an additional 365 shares in the last quarter. 54.60% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ENB has been the topic of several recent analyst reports. Argus upped their price target on shares of Enbridge from $50.00 to $54.00 and gave the company a "buy" rating in a report on Tuesday, August 12th. National Bankshares reissued a "sector perform" rating on shares of Enbridge in a report on Tuesday, August 5th. Zacks Research raised shares of Enbridge from a "hold" rating to a "strong-buy" rating in a report on Friday, August 15th. Jefferies Financial Group raised shares of Enbridge from a "hold" rating to a "buy" rating in a report on Wednesday, July 23rd. Finally, Wall Street Zen raised shares of Enbridge from a "sell" rating to a "hold" rating in a report on Saturday. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $60.50.

Enbridge Stock Performance

Shares of ENB stock traded down $0.17 during trading hours on Tuesday, reaching $48.89. The stock had a trading volume of 4,126,159 shares, compared to its average volume of 2,981,843. The company has a debt-to-equity ratio of 1.58, a current ratio of 0.75 and a quick ratio of 0.65. Enbridge Inc has a twelve month low of $39.73 and a twelve month high of $49.21. The firm has a 50-day simple moving average of $46.84 and a 200-day simple moving average of $45.47. The firm has a market capitalization of $106.62 billion, a PE ratio of 24.08, a price-to-earnings-growth ratio of 4.49 and a beta of 0.80.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last released its quarterly earnings data on Friday, August 1st. The pipeline company reported $0.47 earnings per share for the quarter, topping analysts' consensus estimates of $0.41 by $0.06. Enbridge had a net margin of 10.11% and a return on equity of 10.77%. The business had revenue of $7.14 billion for the quarter, compared to analysts' expectations of $10.56 billion. During the same quarter last year, the company earned $0.58 EPS. As a group, equities analysts forecast that Enbridge Inc will post 2.14 earnings per share for the current year.

Enbridge Increases Dividend

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

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.