Triangle Securities Wealth Management Sells 8,928 Shares of Enbridge Inc $ENB

Key Points

• Triangle Securities Wealth Management has reduced its stake in Enbridge Inc by 16.9%, now holding 43,975 shares valued at approximately $1.99 million.
• Multiple analysts have rated Enbridge positively, with Jefferies Financial Group upgrading its rating from "hold" to "buy" and a consensus target price of $60.50.
• Enbridge has recently increased its quarterly dividend to $0.6839 per share, yielding 5.6%, despite a high payout ratio of 134.98%.

Triangle Securities Wealth Management lowered its stake in shares of Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB by 16.9% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 43,975 shares of the pipeline company's stock after selling 8,928 shares during the period. Triangle Securities Wealth Management's holdings in Enbridge were worth $1,993,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Clare Market Investments LLC purchased a new stake in shares of Enbridge in the second quarter valued at about $1,162,000. Ryan Investment Management Inc. purchased a new position in shares of Enbridge in the second quarter valued at $46,000. Security National Bank boosted its stake in Enbridge by 205.3% during the 2nd quarter. Security National Bank now owns 3,578 shares of the pipeline company's stock valued at $162,000 after acquiring an additional 2,406 shares during the last quarter. Contravisory Investment Management Inc. acquired a new stake in shares of Enbridge in the 2nd quarter worth about $246,000. Finally, Wealth Enhancement Advisory Services LLC increased its holdings in shares of Enbridge by 11.0% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 486,910 shares of the pipeline company's stock worth $21,787,000 after acquiring an additional 48,353 shares during the period. Hedge funds and other institutional investors own 54.60% of the company's stock.

Wall Street Analysts Forecast Growth

ENB has been the subject of several research reports. Zacks Research cut shares of Enbridge from a "strong-buy" rating to a "hold" rating in a report on Wednesday. Jefferies Financial Group upgraded shares of Enbridge from a "hold" rating to a "buy" rating in a research note on Wednesday, July 23rd. National Bankshares reaffirmed a "sector perform" rating on shares of Enbridge in a report on Tuesday, August 5th. Wall Street Zen cut Enbridge from a "hold" rating to a "sell" rating in a report on Sunday. Finally, Argus boosted 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 investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat, Enbridge has an average rating of "Moderate Buy" and a consensus target price of $60.50.

Enbridge Price Performance

NYSE ENB traded up $0.37 during trading hours on Friday, hitting $49.49. The company had a trading volume of 3,096,103 shares, compared to its average volume of 2,916,895. Enbridge Inc has a 52 week low of $39.73 and a 52 week high of $49.55. The firm has a 50 day simple moving average of $47.14 and a 200 day simple moving average of $45.62. 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 $107.93 billion, a price-to-earnings ratio of 24.38, a PEG ratio of 4.52 and a beta of 0.80.

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 for the quarter, beating analysts' consensus estimates of $0.41 by $0.06. The company had revenue of $7.14 billion for the quarter, compared to analysts' expectations of $10.56 billion. Enbridge had a return on equity of 10.77% and a net margin of 10.11%.During the same period last year, the firm 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 paid a $0.6839 dividend. This is an increase from Enbridge's previous quarterly dividend of $0.68. This represents a $2.74 annualized dividend and a dividend yield of 5.5%. The ex-dividend date was Friday, August 15th. Enbridge's dividend payout ratio (DPR) is presently 134.98%.

Enbridge Company 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.