Baker Tilly Wealth Management LLC Cuts Holdings in Enbridge Inc $ENB

Baker Tilly Wealth Management LLC trimmed its holdings in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 4.2% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 28,284 shares of the pipeline company’s stock after selling 1,233 shares during the period. Baker Tilly Wealth Management LLC’s holdings in Enbridge were worth $1,282,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of the business. Wealth Enhancement Advisory Services LLC increased its stake in Enbridge by 6.1% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 438,557 shares of the pipeline company’s stock valued at $19,431,000 after purchasing an additional 25,071 shares in the last quarter. Hartline Investment Corp increased its stake in Enbridge by 31.3% in 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 in the last quarter. Wellington Management Group LLP increased its stake in Enbridge by 0.7% in the 4th quarter. Wellington Management Group LLP now owns 1,150,521 shares of the pipeline company’s stock valued at $48,806,000 after purchasing an additional 7,890 shares in the last quarter. JBR Co Financial Management Inc purchased a new position in Enbridge in the 1st quarter valued at approximately $330,000. Finally, Raymond James Financial Inc. increased its stake in Enbridge by 0.8% in the 1st quarter. Raymond James Financial Inc. now owns 4,299,977 shares of the pipeline company’s stock valued at $190,532,000 after purchasing an additional 35,515 shares in the last quarter. 54.60% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. Argus raised their price objective on Enbridge from $50.00 to $54.00 and gave the company a “buy” rating in a research note on Tuesday, August 12th. Wall Street Zen raised Enbridge from a “sell” rating to a “hold” rating in a research note on Saturday, September 13th. Jefferies Financial Group raised 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 research note on Tuesday, August 5th. Finally, Zacks Research raised Enbridge from a “hold” rating to a “strong-buy” rating in a research note on Friday, August 15th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $60.50.

Enbridge Price Performance

ENB stock opened at $49.08 on Thursday. Enbridge Inc has a 52-week low of $39.73 and a 52-week high of $49.36. The stock’s fifty day simple moving average is $46.94 and its 200-day simple moving average is $45.50. 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 capitalization of $107.03 billion, a price-to-earnings ratio of 24.18, a price-to-earnings-growth ratio of 4.47 and a beta of 0.80.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its earnings results 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. Enbridge had a return on equity of 10.77% and a net margin of 10.11%.The firm had revenue of $7.14 billion for the quarter, compared to analysts’ expectations of $10.56 billion. During the same quarter last year, the firm earned $0.58 earnings per share. Equities research analysts expect that Enbridge Inc will post 2.14 EPS for the current year.

Enbridge Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 1st. Investors of record on Friday, August 15th were issued a $0.6839 dividend. The ex-dividend date was Friday, August 15th. This is an increase from Enbridge’s previous quarterly dividend of $0.68. This represents a $2.74 dividend on an annualized basis and a yield of 5.6%. Enbridge’s payout ratio is 134.98%.

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.