Integrated Advisors Network LLC Sells 38,830 Shares of Enbridge Inc $ENB

Key Points

• Integrated Advisors Network LLC cut its Enbridge stake by 75.8% in the first quarter, selling 38,830 shares and ending with 12,424 shares valued at about $673,000.
• Enbridge reported better-than-expected quarterly results, with EPS of $0.71 versus the $0.69 estimate and revenue of $9.37 billion above forecasts.
• The company continues to offer a sizable payout, declaring a quarterly dividend of $0.97 per share for a 7.1% annualized yield, while analysts overall maintain a Moderate Buy rating with a $66.50 price target.

Integrated Advisors Network LLC decreased its stake in shares of Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB by 75.8% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 12,424 shares of the pipeline company's stock after selling 38,830 shares during the quarter. Integrated Advisors Network LLC's holdings in Enbridge were worth $673,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of ENB. Arbor Investment Advisors LLC bought a new stake in shares of Enbridge in the 1st quarter valued at $236,000. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT boosted its stake in Enbridge by 66.5% during the first quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 1,001,500 shares of the pipeline company's stock worth $54,221,000 after acquiring an additional 400,000 shares in the last quarter. Kathmere Capital Management LLC grew its holdings in Enbridge by 18.4% in the first quarter. Kathmere Capital Management LLC now owns 13,356 shares of the pipeline company's stock worth $723,000 after purchasing an additional 2,073 shares during the period. Ascentis Independent Advisors grew its holdings in Enbridge by 65.9% in the first quarter. Ascentis Independent Advisors now owns 10,587 shares of the pipeline company's stock worth $573,000 after purchasing an additional 4,205 shares during the period. Finally, Argus Investors Counsel Inc. acquired a new stake in Enbridge in the first quarter worth $202,000. Institutional investors own 54.60% of the company's stock.

Enbridge Stock Performance

Shares of ENB opened at $54.60 on Friday. The company has a debt-to-equity ratio of 1.69, a quick ratio of 0.73 and a current ratio of 0.81. The stock has a 50 day moving average price of $55.45 and a two-hundred day moving average price of $52.64. The firm has a market capitalization of $119.26 billion, a P/E ratio of 25.64 and a beta of 0.58. Enbridge Inc has a 52 week low of $43.59 and a 52 week high of $58.45.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last posted its earnings results on Friday, May 8th. The pipeline company reported $0.71 earnings per share for the quarter, beating analysts' consensus estimates of $0.69 by $0.02. The company had revenue of $9.37 billion for the quarter, compared to analyst estimates of $8.49 billion. Enbridge had a return on equity of 11.21% and a net margin of 9.83%.During the same quarter last year, the company earned $1.03 earnings per share. Equities analysts forecast that Enbridge Inc will post 2.14 earnings per share for the current fiscal year.

Enbridge Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Friday, May 15th were given a $0.97 dividend. This represents a $3.88 dividend on an annualized basis and a yield of 7.1%. The ex-dividend date of this dividend was Friday, May 15th. Enbridge's dividend payout ratio is presently 133.80%.

Analyst Ratings Changes

ENB has been the topic of a number of research analyst reports. Scotiabank reissued an "outperform" rating on shares of Enbridge in a research report on Monday, May 11th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Enbridge in a research report on Friday, May 22nd. Royal Bank Of Canada upped their price target on Enbridge from $76.00 to $79.00 and gave the stock an "outperform" rating in a research note on Monday, May 11th. Canadian Imperial Bank of Commerce reiterated a "neutral" rating on shares of Enbridge in a report on Monday, May 11th. Finally, Wall Street Zen cut Enbridge from a "hold" rating to a "sell" rating in a research note on Saturday, June 27th. Seven analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. According to MarketBeat.com, Enbridge currently has an average rating of "Moderate Buy" and a consensus price target of $66.50.

Enbridge Company Profile

Enbridge Inc is a Calgary, Alberta–based energy infrastructure company that develops, owns and operates a diversified portfolio of energy transportation, distribution and generation assets. Its core activities include the operation of crude oil and liquids pipelines, natural gas transmission and distribution systems, and energy storage facilities. In addition to midstream transportation and storage, Enbridge has expanded into renewable power generation and energy transition projects, including wind, solar and utility-scale generation assets.

The company serves customers primarily in Canada and the United States and has interests in other international energy projects.

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