Enbridge Inc (NYSE:ENB) Shares Acquired by Private Advisor Group LLC

Private Advisor Group LLC grew its position in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 117.0% in the second quarter, HoldingsChannel reports. The fund owned 417,462 shares of the pipeline company’s stock after acquiring an additional 225,055 shares during the quarter. Private Advisor Group LLC’s holdings in Enbridge were worth $15,062,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the business. Manchester Financial Inc. acquired a new position in shares of Enbridge during the 2nd quarter worth about $25,000. Westside Investment Management Inc. acquired a new position in shares of Enbridge during the 2nd quarter worth about $25,000. SRS Capital Advisors Inc. acquired a new position in shares of Enbridge during the 2nd quarter worth about $35,000. Cascade Investment Advisors Inc. acquired a new position in shares of Enbridge during the 2nd quarter worth about $36,000. Finally, Northern Oak Wealth Management Inc. acquired a new position in shares of Enbridge during the 2nd quarter worth about $36,000. Institutional investors and hedge funds own 53.82% of the company’s stock.

Several research analysts recently weighed in on ENB shares. Goldman Sachs Group started coverage on shares of Enbridge in a research report on Thursday, July 18th. They set a “neutral” rating for the company. ValuEngine downgraded shares of Enbridge from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Bank of America downgraded shares of Enbridge from a “buy” rating to a “neutral” rating and set a $49.00 price target for the company. in a research report on Tuesday, July 2nd. Finally, Wolfe Research downgraded shares of Enbridge from an “outperform” rating to a “peer perform” rating and set a $37.00 price target for the company. in a research report on Thursday, June 13th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $43.75.

NYSE ENB traded up $0.26 during trading hours on Monday, hitting $35.16. 261,255 shares of the company’s stock traded hands, compared to its average volume of 3,334,908. Enbridge Inc has a 52-week low of $28.82 and a 52-week high of $38.04. The company has a market capitalization of $71.49 billion, a PE ratio of 17.19, a PEG ratio of 2.67 and a beta of 0.57. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.63 and a quick ratio of 0.53. The firm’s 50-day moving average is $33.60 and its 200-day moving average is $35.74.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings data on Friday, August 2nd. The pipeline company reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.08. Enbridge had a net margin of 9.97% and a return on equity of 8.16%. The company had revenue of $9.92 billion during the quarter. Equities research analysts predict that Enbridge Inc will post 1.93 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Thursday, August 15th were paid a dividend of $0.559 per share. This represents a $2.24 annualized dividend and a yield of 6.36%. The ex-dividend date of this dividend was Wednesday, August 14th. This is a boost from Enbridge’s previous quarterly dividend of $0.52. Enbridge’s dividend payout ratio is currently 107.80%.

Enbridge Profile

Enbridge Inc operates as an energy infrastructure company in Canada and the United States. The company operates through five segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution, Green Power and Transmission, and Energy Services. The Liquids Pipelines segment operates common carrier and contract crude oil, natural gas liquids (NGL), and refined products pipelines and terminals.

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Institutional Ownership by Quarter for Enbridge (NYSE:ENB)

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