Financial Advocates Investment Management Sells 10,403 Shares of Enbridge Inc $ENB

Financial Advocates Investment Management trimmed its position in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 51.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,860 shares of the pipeline company’s stock after selling 10,403 shares during the period. Financial Advocates Investment Management’s holdings in Enbridge were worth $447,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ENB. Goldman Sachs Group Inc. boosted its position in shares of Enbridge by 137.9% during the first quarter. Goldman Sachs Group Inc. now owns 32,907,433 shares of the pipeline company’s stock valued at $1,458,128,000 after buying an additional 19,074,827 shares during the period. Nuveen LLC bought a new stake in shares of Enbridge during the 1st quarter worth approximately $208,490,000. Vanguard Group Inc. boosted its holdings in Enbridge by 3.5% during the 2nd quarter. Vanguard Group Inc. now owns 96,404,986 shares of the pipeline company’s stock valued at $4,371,580,000 after acquiring an additional 3,217,961 shares during the period. Geode Capital Management LLC grew its position in Enbridge by 20.2% in the 2nd quarter. Geode Capital Management LLC now owns 17,785,430 shares of the pipeline company’s stock valued at $818,620,000 after acquiring an additional 2,989,992 shares during the last quarter. Finally, Picton Mahoney Asset Management purchased a new stake in Enbridge in the second quarter worth $132,105,000. 54.60% of the stock is owned by hedge funds and other institutional investors.

Enbridge Trading Up 1.0%

NYSE:ENB opened at $48.04 on Friday. The firm has a 50-day simple moving average of $48.13 and a 200-day simple moving average of $46.92. Enbridge Inc has a one year low of $39.73 and a one year high of $50.54. The firm has a market cap of $104.80 billion, a P/E ratio of 23.67, a P/E/G ratio of 4.31 and a beta of 0.76. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.65 and a current ratio of 0.75.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings data on Friday, November 7th. The pipeline company reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.06). The business had revenue of $7 billion for the quarter, compared to the consensus estimate of $8.45 billion. Enbridge had a net margin of 10.11% and a return on equity of 10.77%. During the same quarter in the prior year, the business posted $0.55 earnings per share. Equities analysts anticipate 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 will be paid on Monday, December 1st. Stockholders of record on Friday, November 14th will be issued a $0.9425 dividend. The ex-dividend date is Friday, November 14th. This represents a $3.77 dividend on an annualized basis and a dividend yield of 7.8%. This is a boost from Enbridge’s previous quarterly dividend of $0.68. Enbridge’s dividend payout ratio (DPR) is 147.80%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on ENB. Zacks Research lowered shares of Enbridge from a “hold” rating to a “strong sell” rating in a research note on Tuesday, November 11th. BMO Capital Markets reiterated a “market perform” rating on shares of Enbridge in a report on Monday, November 10th. Scotiabank restated a “sector perform” rating on shares of Enbridge in a research note on Monday, November 10th. CIBC lowered shares of Enbridge from an “outperform” rating to a “neutral” rating in a research report on Thursday, October 9th. Finally, Wall Street Zen lowered Enbridge from a “hold” rating to a “sell” rating in a report on Sunday, September 21st. Six analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Enbridge has an average rating of “Hold” and an average price target of $63.00.

Enbridge 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.