Enbridge Inc $ENB Shares Sold by Marks Group Wealth Management Inc

Marks Group Wealth Management Inc lowered its position in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 1.0% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 58,191 shares of the pipeline company’s stock after selling 615 shares during the quarter. Marks Group Wealth Management Inc’s holdings in Enbridge were worth $2,637,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Dagco Inc. acquired a new position in shares of Enbridge during the first quarter valued at approximately $25,000. Garde Capital Inc. acquired a new position in shares of Enbridge during the first quarter valued at approximately $26,000. Financial Gravity Asset Management Inc. acquired a new position in shares of Enbridge during the first quarter valued at approximately $28,000. Accent Capital Management LLC acquired a new position in shares of Enbridge during the first quarter valued at approximately $30,000. Finally, Wolff Wiese Magana LLC raised its holdings in shares of Enbridge by 91.3% during the first quarter. Wolff Wiese Magana LLC now owns 765 shares of the pipeline company’s stock valued at $34,000 after acquiring an additional 365 shares during the last quarter. Institutional investors and hedge funds own 54.60% of the company’s stock.

Enbridge Price Performance

ENB stock opened at $50.11 on Monday. The business has a fifty day moving average of $48.06 and a two-hundred day moving average of $46.12. 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 market cap of $109.27 billion, a price-to-earnings ratio of 24.68, a price-to-earnings-growth ratio of 4.58 and a beta of 0.78. Enbridge Inc has a 52-week low of $39.73 and a 52-week high of $50.54.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its earnings results on Friday, August 1st. The pipeline company reported $0.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.06. The company had revenue of $7.14 billion during 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 quarter last year, the firm earned $0.58 earnings per share. As a group, research analysts anticipate that Enbridge Inc will post 2.14 earnings per share for the current year.

Enbridge Increases Dividend

The firm 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. This represents a $2.74 annualized dividend and a yield of 5.5%. This is a positive change from Enbridge’s previous quarterly dividend of $0.68. The ex-dividend date of this dividend was Friday, August 15th. Enbridge’s payout ratio is 134.98%.

Analyst Ratings Changes

ENB has been the subject of a number of analyst reports. Jefferies Financial Group upgraded Enbridge from a “hold” rating to a “buy” rating in a research report on Wednesday, July 23rd. National Bankshares restated a “sector perform” rating on shares of Enbridge in a research report on Tuesday, August 5th. Wall Street Zen lowered Enbridge from a “hold” rating to a “sell” rating in a research report on Sunday, September 21st. Weiss Ratings restated a “buy (b)” rating on shares of Enbridge in a research report on Saturday, September 27th. Finally, Zacks Research lowered Enbridge from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 17th. Seven investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” 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.