Graham Capital Wealth Management LLC Has $2.68 Million Stock Holdings in Enbridge Inc $ENB

Graham Capital Wealth Management LLC lessened its position in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 1.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 59,192 shares of the pipeline company’s stock after selling 1,131 shares during the quarter. Enbridge accounts for approximately 3.2% of Graham Capital Wealth Management LLC’s portfolio, making the stock its 10th largest holding. Graham Capital Wealth Management LLC’s holdings in Enbridge were worth $2,683,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in ENB. Mediolanum International Funds Ltd increased its position in shares of Enbridge by 24.2% during the 2nd quarter. Mediolanum International Funds Ltd now owns 158,109 shares of the pipeline company’s stock valued at $7,108,000 after purchasing an additional 30,799 shares during the last quarter. Legal & General Group Plc grew its position in Enbridge by 1.1% during the second quarter. Legal & General Group Plc now owns 18,861,475 shares of the pipeline company’s stock valued at $853,669,000 after acquiring an additional 207,243 shares during the last quarter. MAI Capital Management raised its stake in shares of Enbridge by 43.9% during the second quarter. MAI Capital Management now owns 28,718 shares of the pipeline company’s stock worth $1,302,000 after acquiring an additional 8,763 shares in the last quarter. Hillsdale Investment Management Inc. lifted its holdings in shares of Enbridge by 13.8% in the 2nd quarter. Hillsdale Investment Management Inc. now owns 1,741,794 shares of the pipeline company’s stock worth $79,042,000 after acquiring an additional 211,416 shares during the last quarter. Finally, Magnetar Financial LLC purchased a new stake in shares of Enbridge in the 2nd quarter valued at $2,512,000. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Enbridge Stock Performance

Enbridge stock opened at $48.32 on Friday. The company has a current ratio of 0.75, a quick ratio of 0.65 and a debt-to-equity ratio of 1.58. The firm has a market cap of $105.39 billion, a P/E ratio of 23.80, a P/E/G ratio of 4.31 and a beta of 0.76. Enbridge Inc has a 1-year low of $39.73 and a 1-year high of $50.54. The firm has a 50-day moving average of $48.25 and a 200-day moving average of $46.87.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings results on Friday, November 7th. The pipeline company reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.06). Enbridge had a net margin of 10.11% and a return on equity of 10.77%. The business had revenue of $7 billion for the quarter, compared to the consensus estimate of $8.45 billion. During the same period in the previous year, the company earned $0.55 EPS. Sell-side analysts expect that Enbridge Inc will post 2.14 EPS for the current year.

Enbridge Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Friday, November 14th will be paid a $0.9425 dividend. The ex-dividend date of this dividend is Friday, November 14th. This is a positive change from Enbridge’s previous quarterly dividend of $0.68. This represents a $3.77 dividend on an annualized basis and a yield of 7.8%. Enbridge’s payout ratio is 147.80%.

Wall Street Analysts Forecast Growth

ENB has been the topic of a number of analyst reports. BMO Capital Markets reiterated a “market perform” rating on shares of Enbridge in a research report on Monday, November 10th. Zacks Research cut Enbridge from a “hold” rating to a “strong sell” rating in a research note on Tuesday, November 11th. National Bankshares reissued a “sector perform” rating on shares of Enbridge in a research note on Monday, November 10th. CIBC cut Enbridge from an “outperform” rating to a “neutral” rating in a report on Thursday, October 9th. Finally, Scotiabank restated a “sector perform” rating on shares of Enbridge in a research report on Monday, November 10th. Six investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Enbridge presently has an average rating of “Hold” and an average target price of $63.00.

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.