Kestra Advisory Services LLC Lowers Position in Enbridge Inc $ENB

Key Points

• Kestra Advisory Services LLC has decreased its position in Enbridge Inc by 16.2%, selling 15,064 shares and holding a total of 77,875 shares valued at approximately $3.45 million.
• Enbridge has increased its quarterly dividend to $0.6839 per share, translating to an annualized dividend of $2.74 and a yield of 5.7%.
• Analysts have generally favorable views on Enbridge, with target price upgrades and a current consensus rating of "Moderate Buy" alongside a price target of $60.50.

Kestra Advisory Services LLC lessened its holdings in Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB by 16.2% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 77,875 shares of the pipeline company's stock after selling 15,064 shares during the period. Kestra Advisory Services LLC's holdings in Enbridge were worth $3,451,000 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. Brighton Jones LLC purchased a new stake in shares of Enbridge in the fourth quarter worth $261,000. Northern Trust Corp raised its position in shares of Enbridge by 42.5% in the fourth quarter. Northern Trust Corp now owns 2,538,754 shares of the pipeline company's stock worth $107,719,000 after buying an additional 756,762 shares in the last quarter. Lido Advisors LLC raised its position in shares of Enbridge by 37.5% in the fourth quarter. Lido Advisors LLC now owns 10,279 shares of the pipeline company's stock worth $436,000 after buying an additional 2,806 shares in the last quarter. Utah Retirement Systems raised its position in shares of Enbridge by 2.6% in the fourth quarter. Utah Retirement Systems now owns 244,052 shares of the pipeline company's stock worth $10,353,000 after buying an additional 6,300 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec raised its position in shares of Enbridge by 1.2% in the fourth quarter. Caisse DE Depot ET Placement DU Quebec now owns 3,885,877 shares of the pipeline company's stock worth $164,843,000 after buying an additional 47,506 shares in the last quarter. Hedge funds and other institutional investors own 54.60% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Argus increased their target price on Enbridge from $50.00 to $54.00 and gave the company a "buy" rating in a research note on Tuesday, August 12th. Zacks Research raised Enbridge from a "hold" rating to a "strong-buy" rating in a research note on Friday, August 15th. BMO Capital Markets reissued a "market perform" rating on shares of Enbridge in a research note on Monday, May 12th. Jefferies Financial Group raised Enbridge from a "hold" rating to a "buy" rating in a research note on Wednesday, July 23rd. Finally, Wall Street Zen raised Enbridge from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $60.50.

Enbridge Stock Up 0.4%

Shares of NYSE:ENB opened at $47.63 on Thursday. The stock's 50-day moving average price is $45.80 and its 200-day moving average price is $44.93. Enbridge Inc has a 12-month low of $39.26 and a 12-month high of $48.29. The stock has a market capitalization of $103.86 billion, a P/E ratio of 23.46, a price-to-earnings-growth ratio of 4.34 and a beta of 0.79. 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. On average, equities analysts anticipate that Enbridge Inc will post 2.14 earnings per share for the current year.

Enbridge Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 1st. Stockholders of record on Friday, August 15th will be paid a dividend of $0.6839 per share. This represents a $2.74 dividend on an annualized basis and a dividend yield of 5.7%. This is an increase from Enbridge's previous quarterly dividend of $0.68. The ex-dividend date of this dividend is Friday, August 15th. Enbridge's payout ratio is 134.98%.

About Enbridge

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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