Stephens Inc. AR Sells 7,688 Shares of Enbridge Inc $ENB

Key Points

• Stephens Inc. AR decreased its holdings in Enbridge Inc. by 7.9%, selling 7,688 shares in the second quarter, leaving them with a total of 89,670 shares valued at approximately $4.06 million.
• Enbridge recently declared a quarterly dividend of $0.6839, resulting in an annualized dividend of $2.74 with a yield of 5.8%, marking an increase from the previous quarter's dividend of $0.68.
• The company's stock performance includes a reported EPS of $0.47 for the last quarter, exceeding analyst expectations, while forecasts predict Enbridge will post 2.14 EPS for the current fiscal year.

Stephens Inc. AR decreased its holdings in shares of Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB by 7.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 89,670 shares of the pipeline company's stock after selling 7,688 shares during the period. Stephens Inc. AR's holdings in Enbridge were worth $4,064,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Mutual Advisors LLC raised its position in Enbridge by 25.3% during the 2nd quarter. Mutual Advisors LLC now owns 51,995 shares of the pipeline company's stock valued at $2,338,000 after purchasing an additional 10,488 shares during the last quarter. 111 Capital bought a new position in Enbridge during the 2nd quarter valued at approximately $1,887,000. Loudon Investment Management LLC raised its position in Enbridge by 40.6% during the 2nd quarter. Loudon Investment Management LLC now owns 29,801 shares of the pipeline company's stock valued at $1,351,000 after purchasing an additional 8,600 shares during the last quarter. Ritholtz Wealth Management raised its position in Enbridge by 37.7% during the 2nd quarter. Ritholtz Wealth Management now owns 71,834 shares of the pipeline company's stock valued at $3,256,000 after purchasing an additional 19,655 shares during the last quarter. Finally, Hartline Investment Corp raised its position in Enbridge by 31.3% during the 1st quarter. Hartline Investment Corp now owns 36,098 shares of the pipeline company's stock valued at $1,600,000 after purchasing an additional 8,610 shares during the last quarter. Institutional investors own 54.60% of the company's stock.

Enbridge Stock Performance

Enbridge stock opened at $47.29 on Wednesday. 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 company has a market capitalization of $103.12 billion, a P/E ratio of 23.29, a PEG ratio of 4.33 and a beta of 0.78. The stock's 50 day moving average is $48.46 and its 200 day moving average is $46.40. Enbridge Inc has a twelve month low of $39.73 and a twelve month high of $50.54.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last posted its quarterly earnings results on Friday, August 1st. The pipeline company reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.06. The company had revenue of $7.14 billion for 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 in the prior year, the business posted $0.58 EPS. On average, equities research analysts predict that Enbridge Inc will post 2.14 earnings per share 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 paid a $0.6839 dividend. This represents a $2.74 annualized dividend and a dividend yield of 5.8%. The ex-dividend date was Friday, August 15th. This is an increase from Enbridge's previous quarterly dividend of $0.68. Enbridge's dividend payout ratio (DPR) is currently 134.98%.

Wall Street Analysts Forecast Growth

ENB has been the subject of several research reports. Jefferies Financial Group raised Enbridge from a "hold" rating to a "buy" rating in a research report on Wednesday, July 23rd. CIBC lowered Enbridge from an "outperform" rating to a "neutral" rating in a research report on Thursday, October 9th. Zacks Research lowered Enbridge from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, September 17th. Cibc World Mkts lowered Enbridge from a "strong-buy" rating to a "hold" rating in a research report on Thursday, October 9th. Finally, Argus increased their target price on Enbridge from $50.00 to $54.00 and gave the stock a "buy" rating in a research report on Tuesday, August 12th. Six analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price 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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