LRI Investments LLC Sells 1,557 Shares of Enbridge Inc $ENB

LRI Investments LLC decreased its holdings in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 16.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,884 shares of the pipeline company’s stock after selling 1,557 shares during the period. LRI Investments LLC’s holdings in Enbridge were worth $357,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Dagco Inc. bought a new stake in shares of Enbridge during the 1st quarter valued at $25,000. Garde Capital Inc. bought a new stake in shares of Enbridge during the 1st quarter valued at $26,000. Financial Gravity Asset Management Inc. bought a new stake in shares of Enbridge during the 1st quarter valued at $28,000. Accent Capital Management LLC bought a new stake in shares of Enbridge during the 1st quarter valued at $30,000. Finally, Wolff Wiese Magana LLC grew its position in shares of Enbridge by 91.3% during the 1st 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 period. Institutional investors own 54.60% of the company’s stock.

Analysts Set New Price Targets

ENB has been the subject of a number of recent research reports. Argus boosted their price objective on shares of Enbridge from $50.00 to $54.00 and gave the company a “buy” rating in a research report on Tuesday, August 12th. Wall Street Zen downgraded shares of Enbridge from a “hold” rating to a “sell” rating in a report on Sunday, September 21st. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Enbridge in a report on Wednesday, October 8th. Cibc World Mkts downgraded shares of Enbridge from a “strong-buy” rating to a “hold” rating in a report on Thursday. Finally, Zacks Research downgraded shares of Enbridge from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 17th. Six research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $60.50.

Enbridge Stock Down 0.7%

Shares of ENB stock opened at $47.67 on Monday. The stock has a market cap of $103.96 billion, a P/E ratio of 23.48, a PEG ratio of 4.38 and a beta of 0.78. Enbridge Inc has a 52 week low of $39.73 and a 52 week high of $50.54. 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’s fifty day simple moving average is $48.41 and its two-hundred day simple moving average is $46.28.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings results on Friday, August 1st. The pipeline company reported $0.47 EPS for the quarter, topping the consensus estimate of $0.41 by $0.06. The business had revenue of $7.14 billion for the quarter, compared to analysts’ expectations of $10.56 billion. Enbridge had a net margin of 10.11% and a return on equity of 10.77%. During the same quarter in the previous year, the company earned $0.58 EPS. Analysts predict that Enbridge Inc will post 2.14 EPS for the current fiscal year.

Enbridge Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 1st. Shareholders of record on Friday, August 15th were paid a $0.6839 dividend. This represents a $2.74 annualized dividend and a yield of 5.7%. 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 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.