Janney Montgomery Scott LLC Sells 27,430 Shares of Enbridge Inc $ENB

Key Points

• Janney Montgomery Scott LLC has reduced its stake in Enbridge Inc by 2.7%, selling 27,430 shares and now holding 985,680 shares valued at approximately $44.67 million.
• An increase in the quarterly dividend has been declared, raising it to $0.6839 per share, giving an annualized amount of $2.74 and a yield of 5.4%.
• Analysts have mixed views on the stock, with an average price target of $60.50 and ratings ranging from "buy" to "sell" by several research firms.

Janney Montgomery Scott LLC reduced its position in Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB by 2.7% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 985,680 shares of the pipeline company's stock after selling 27,430 shares during the period. Janney Montgomery Scott LLC's holdings in Enbridge were worth $44,671,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of Enbridge by 1.7% in the first quarter. Vanguard Group Inc. now owns 93,187,025 shares of the pipeline company's stock valued at $4,124,271,000 after buying an additional 1,569,879 shares during the last quarter. GQG Partners LLC raised its stake in Enbridge by 1.5% in the 1st quarter. GQG Partners LLC now owns 75,439,320 shares of the pipeline company's stock valued at $3,338,405,000 after acquiring an additional 1,148,580 shares during the period. TD Asset Management Inc lifted its holdings in Enbridge by 1.3% during the 1st quarter. TD Asset Management Inc now owns 39,265,817 shares of the pipeline company's stock valued at $1,737,602,000 after purchasing an additional 513,058 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in Enbridge by 137.9% during the first quarter. Goldman Sachs Group Inc. now owns 32,907,433 shares of the pipeline company's stock worth $1,458,128,000 after purchasing an additional 19,074,827 shares during the period. Finally, JPMorgan Chase & Co. increased its holdings in shares of Enbridge by 10.5% in the first quarter. JPMorgan Chase & Co. now owns 17,643,681 shares of the pipeline company's stock valued at $781,792,000 after purchasing an additional 1,680,116 shares during the last quarter. Institutional investors and hedge funds own 54.60% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on ENB shares. Argus raised their target price on shares of Enbridge from $50.00 to $54.00 and gave the stock a "buy" rating in a research note on Tuesday, August 12th. Jefferies Financial Group upgraded shares of 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 report on Tuesday, August 5th. Wall Street Zen lowered Enbridge from a "hold" rating to a "sell" rating in a research note on Sunday, September 21st. Finally, Zacks Research downgraded Enbridge from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, September 17th. Six research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat, Enbridge has an average rating of "Moderate Buy" and an average price target of $60.50.

Enbridge Trading Up 1.5%

Shares of ENB opened at $50.48 on Wednesday. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.65 and a current ratio of 0.75. Enbridge Inc has a 52-week low of $39.73 and a 52-week high of $50.50. The firm has a market cap of $110.09 billion, a price-to-earnings ratio of 24.87, a PEG ratio of 4.55 and a beta of 0.80. The business's fifty day moving average is $47.79 and its 200-day moving average is $45.98.

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, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $10.56 billion. During the same period last year, the firm posted $0.58 earnings per share. Equities analysts anticipate that Enbridge Inc will post 2.14 EPS for the current fiscal year.

Enbridge Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 1st. Investors of record on Friday, August 15th were issued a dividend of $0.6839 per share. 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 annualized dividend and a dividend yield of 5.4%. Enbridge's payout ratio is presently 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.

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