Sequoia Financial Advisors LLC Has $4.69 Million Stake in Enbridge Inc $ENB

Sequoia Financial Advisors LLC grew its holdings in Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB by 7.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 103,431 shares of the pipeline company's stock after purchasing an additional 7,236 shares during the period. Sequoia Financial Advisors LLC's holdings in Enbridge were worth $4,687,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Total Clarity Wealth Management Inc. grew its position in Enbridge by 8.5% during the second quarter. Total Clarity Wealth Management Inc. now owns 38,973 shares of the pipeline company's stock valued at $1,766,000 after purchasing an additional 3,047 shares in the last quarter. Yousif Capital Management LLC boosted its stake in shares of Enbridge by 7.5% during the 2nd quarter. Yousif Capital Management LLC now owns 30,722 shares of the pipeline company's stock valued at $1,392,000 after buying an additional 2,135 shares during the period. CWM LLC raised its holdings in shares of Enbridge by 46.3% during the second quarter. CWM LLC now owns 44,015 shares of the pipeline company's stock worth $1,995,000 after acquiring an additional 13,921 shares in the last quarter. Vanguard Personalized Indexing Management LLC raised its holdings in shares of Enbridge by 7.5% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 21,383 shares of the pipeline company's stock worth $989,000 after acquiring an additional 1,483 shares in the last quarter. Finally, Sather Financial Group Inc purchased a new stake in shares of Enbridge during the second quarter worth $348,000. 54.60% of the stock is owned by hedge funds and other institutional investors.

Enbridge Stock Down 0.3%

Shares of Enbridge stock opened at $47.58 on Wednesday. The stock has a market capitalization of $103.76 billion, a P/E ratio of 23.44, a PEG ratio of 4.38 and a beta of 0.78. The company has a quick ratio of 0.65, a current ratio of 0.75 and a debt-to-equity ratio of 1.58. The stock has a 50 day moving average price of $48.45 and a two-hundred day moving average price of $46.31. Enbridge Inc has a 12-month low of $39.73 and a 12-month high of $50.54.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last issued its quarterly earnings data 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. Enbridge had a net margin of 10.11% and a return on equity of 10.77%. The business had revenue of $7.14 billion during the quarter, compared to analysts' expectations of $10.56 billion. During the same period in the previous year, the company earned $0.58 earnings per share. Equities analysts expect that Enbridge Inc will post 2.14 earnings per share for the current year.

Enbridge Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 1st. Shareholders of record on Friday, August 15th were issued a dividend of $0.6839 per share. This represents a $2.74 dividend on an annualized basis and a yield of 5.7%. This is a positive change from Enbridge's previous quarterly dividend of $0.68. The ex-dividend date was Friday, August 15th. Enbridge's dividend payout ratio is currently 134.98%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on ENB shares. CIBC lowered Enbridge from an "outperform" rating to a "neutral" rating in a research report on Thursday, October 9th. Cibc World Mkts cut Enbridge from a "strong-buy" rating to a "hold" rating in a research note on Thursday, October 9th. National Bankshares reissued a "sector perform" rating on shares of Enbridge in a research note on Tuesday, August 5th. Weiss Ratings reiterated a "buy (b)" rating on shares of Enbridge in a research note on Wednesday, October 8th. Finally, Argus lifted their target price on shares of Enbridge from $50.00 to $54.00 and gave the company a "buy" rating in a research note on Tuesday, August 12th. Six research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $60.50.

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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