S.E.E.D. Planning Group LLC Sells 21,387 Shares of Enbridge Inc $ENB

Key Points

• S.E.E.D. Planning Group LLC reduced its stake in Enbridge Inc. by 8.7% during the second quarter, holding 225,434 shares valued at approximately $10.22 million, which represents 3.2% of its total holdings.
• Enbridge recently announced an increase in its quarterly dividend to $0.6839 per share, which reflects an annualized yield of 5.6% and a dividend payout ratio of 134.98%.
• Analyst upgrades for Enbridge include a price target increase from $50 to $54 by Argus, indicating a positive sentiment towards the stock with a current consensus rating of "Moderate Buy."

S.E.E.D. Planning Group LLC cut its holdings in shares of Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB by 8.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 225,434 shares of the pipeline company's stock after selling 21,387 shares during the quarter. Enbridge makes up 3.2% of S.E.E.D. Planning Group LLC's investment portfolio, making the stock its 13th largest holding. S.E.E.D. Planning Group LLC's holdings in Enbridge were worth $10,217,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Dagco Inc. purchased a new stake in shares of Enbridge during the 1st quarter valued at $25,000. Garde Capital Inc. purchased a new stake in shares of Enbridge during the 1st quarter valued at $26,000. Financial Gravity Asset Management Inc. purchased a new stake in shares of Enbridge during the 1st quarter valued at $28,000. Accent Capital Management LLC purchased a new stake in shares of Enbridge during the 1st quarter valued at $30,000. Finally, Wolff Wiese Magana LLC increased its position in shares of Enbridge by 91.3% during the 1st 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 during the last quarter. 54.60% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Wall Street Zen upgraded Enbridge from a "sell" rating to a "hold" rating in a research note on Saturday. Jefferies Financial Group upgraded Enbridge from a "hold" rating to a "buy" rating in a research note on Wednesday, July 23rd. Argus increased their price target on Enbridge from $50.00 to $54.00 and gave the stock a "buy" rating in a research note on Tuesday, August 12th. National Bankshares reiterated a "sector perform" rating on shares of Enbridge in a research note on Tuesday, August 5th. Finally, Zacks Research upgraded Enbridge from a "hold" rating to a "strong-buy" rating in a research note on Friday, August 15th. One 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's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $60.50.

Enbridge Price Performance

NYSE ENB traded down $0.17 during trading hours on Tuesday, hitting $48.89. The company had a trading volume of 4,126,159 shares, compared to its average volume of 2,981,843. Enbridge Inc has a 52 week low of $39.73 and a 52 week high of $49.21. The firm has a 50 day simple moving average of $46.84 and a 200 day simple moving average of $45.47. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.65 and a current ratio of 0.75. The firm has a market capitalization of $106.62 billion, a price-to-earnings ratio of 24.08, a PEG ratio of 4.49 and a beta of 0.80.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last issued its quarterly earnings results 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. The firm had revenue of $7.14 billion during the quarter, compared to the consensus estimate of $10.56 billion. Enbridge had a return on equity of 10.77% and a net margin of 10.11%.During the same quarter last year, the company posted $0.58 EPS. Equities research analysts expect that Enbridge Inc will post 2.14 earnings per share for the current year.

Enbridge Increases Dividend

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