Integrated Wealth Concepts LLC Sells 6,348 Shares of Enbridge Inc $ENB

Key Points

• Integrated Wealth Concepts LLC reduced its holdings in Enbridge Inc by 10.3% in the first quarter, now owning 55,177 shares valued at $2.45 million.
• Enbridge recently reported an earnings per share (EPS) of $0.47, exceeding analysts' expectations of $0.41, with a quarterly revenue of $7.14 billion.
• The company declared a quarterly dividend of $0.6839, representing a yield of 5.7% and indicating a positive growth from its previous dividend of $0.68.

Integrated Wealth Concepts LLC lessened its holdings in Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB by 10.3% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 55,177 shares of the pipeline company's stock after selling 6,348 shares during the period. Integrated Wealth Concepts LLC's holdings in Enbridge were worth $2,445,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in ENB. Dagco Inc. purchased a new stake in shares of Enbridge in the first quarter worth $25,000. Garde Capital Inc. purchased a new stake in Enbridge during the first quarter valued at about $26,000. Financial Gravity Asset Management Inc. purchased a new stake in Enbridge during the first quarter valued at about $28,000. Accent Capital Management LLC purchased a new stake in Enbridge during the first quarter valued at about $30,000. Finally, Wolff Wiese Magana LLC raised its position in 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 in the last quarter. Hedge funds and other institutional investors own 54.60% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Wall Street Zen upgraded Enbridge from a "sell" rating to a "hold" rating in a research report on Saturday. Jefferies Financial Group upgraded Enbridge from a "hold" rating to a "buy" rating in a research report on Wednesday, July 23rd. National Bankshares restated a "sector perform" rating on shares of Enbridge in a research report on Tuesday, August 5th. Argus raised their price target on Enbridge from $50.00 to $54.00 and gave the company a "buy" rating in a research report on Tuesday, August 12th. Finally, Zacks Research upgraded Enbridge from a "hold" rating to a "strong-buy" rating in a research report on Friday, August 15th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat, Enbridge currently has an average rating of "Moderate Buy" and a consensus target price of $60.50.

Enbridge Trading Up 0.6%

Shares of NYSE:ENB traded up $0.30 on Friday, reaching $49.11. 2,011,439 shares of the company traded hands, compared to its average volume of 3,006,375. The business's 50-day simple moving average is $46.65 and its 200 day simple moving average is $45.41. Enbridge Inc has a 52 week low of $39.73 and a 52 week high of $49.11. The stock has a market capitalization of $107.10 billion, a P/E ratio of 24.19, a price-to-earnings-growth ratio of 4.49 and a beta of 0.80. The company has a current ratio of 0.75, a quick ratio of 0.65 and a debt-to-equity ratio of 1.58.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last announced its quarterly earnings data on Friday, August 1st. The pipeline company reported $0.47 earnings per share (EPS) 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 firm had revenue of $7.14 billion for the quarter, compared to analysts' expectations of $10.56 billion. During the same period last year, the firm earned $0.58 earnings per share. As a group, equities analysts anticipate that Enbridge Inc will post 2.14 EPS for the current fiscal year.

Enbridge Increases Dividend

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