Prime Capital Investment Advisors LLC Sells 6,881 Shares of Enbridge Inc $ENB

Key Points

• Prime Capital Investment Advisors LLC significantly reduced its stake in Enbridge Inc by 45.3%, now holding 8,310 shares valued at approximately $377,000 following the sale of 6,881 shares.
• Several other institutional investors, including Capital Investment Counsel Inc and Sound View Wealth Advisors Group LLC, have made various adjustments to their positions in Enbridge shares, indicating a changing investment landscape around the company.
• Analysts have recently downgraded Enbridge's stock ratings, with CIBC lowering it from "outperform" to "neutral," while Argus raised its price objective to $54.00 despite these downgrades.

Prime Capital Investment Advisors LLC trimmed its holdings in Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB by 45.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,310 shares of the pipeline company's stock after selling 6,881 shares during the period. Prime Capital Investment Advisors LLC's holdings in Enbridge were worth $377,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Capital Investment Counsel Inc raised its position in shares of Enbridge by 3.1% in the first quarter. Capital Investment Counsel Inc now owns 7,527 shares of the pipeline company's stock valued at $333,000 after buying an additional 223 shares in the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors raised its position in shares of Enbridge by 0.7% in the first quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 34,326 shares of the pipeline company's stock valued at $1,526,000 after buying an additional 226 shares in the last quarter. Loudon Investment Management LLC raised its position in shares of Enbridge by 1.1% in the first quarter. Loudon Investment Management LLC now owns 21,201 shares of the pipeline company's stock valued at $939,000 after buying an additional 240 shares in the last quarter. Key Client Fiduciary Advisors LLC raised its position in shares of Enbridge by 1.7% in the second quarter. Key Client Fiduciary Advisors LLC now owns 14,606 shares of the pipeline company's stock valued at $662,000 after buying an additional 242 shares in the last quarter. Finally, Sound View Wealth Advisors Group LLC raised its position in shares of Enbridge by 4.8% in the first quarter. Sound View Wealth Advisors Group LLC now owns 5,304 shares of the pipeline company's stock valued at $235,000 after buying an additional 243 shares in the last quarter. 54.60% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently weighed in on ENB. CIBC downgraded shares of Enbridge from an "outperform" rating to a "neutral" rating in a research report on Thursday. Wall Street Zen downgraded shares of Enbridge from a "hold" rating to a "sell" rating in a research report on Sunday, September 21st. Argus boosted their price objective on shares of Enbridge from $50.00 to $54.00 and gave the company a "buy" rating in a research report on Tuesday, August 12th. Cibc World Mkts downgraded shares of Enbridge from a "strong-buy" rating to a "hold" rating in a research report on Thursday. Finally, National Bankshares restated a "sector perform" rating on shares of Enbridge in a research report on Tuesday, August 5th. Six analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $60.50.

Enbridge Stock Performance

NYSE ENB opened at $47.67 on Friday. The firm's fifty day moving average price is $48.41 and its two-hundred day moving average price is $46.26. The stock has a market cap of $103.96 billion, a PE ratio of 23.48, a PEG ratio of 4.37 and a beta of 0.78. Enbridge Inc has a fifty-two week low of $39.73 and a fifty-two week high of $50.54. 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 (NYSE:ENB - Get Free Report) TSE: ENB last posted its earnings results 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. The firm had revenue of $7.14 billion for the quarter, compared to analysts' expectations of $10.56 billion. Enbridge had a net margin of 10.11% and a return on equity of 10.77%. During the same quarter in the previous year, the firm posted $0.58 earnings per share. On average, equities analysts expect that Enbridge Inc will post 2.14 EPS for the current fiscal year.

Enbridge Increases Dividend

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

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