Drucker Wealth 3.0 LLC Sells 30,619 Shares of Enbridge Inc $ENB

Drucker Wealth 3.0 LLC reduced its holdings in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 25.3% in the second quarter, Holdings Channel.com reports. The fund owned 90,258 shares of the pipeline company’s stock after selling 30,619 shares during the quarter. Enbridge comprises about 0.8% of Drucker Wealth 3.0 LLC’s portfolio, making the stock its 29th largest holding. Drucker Wealth 3.0 LLC’s holdings in Enbridge were worth $3,952,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of ENB. Brighton Jones LLC bought a new stake in shares of Enbridge during the 4th quarter worth approximately $261,000. GAMMA Investing LLC lifted its stake in shares of Enbridge by 4,331.0% during the 1st quarter. GAMMA Investing LLC now owns 31,593 shares of the pipeline company’s stock worth $1,400,000 after acquiring an additional 30,880 shares during the last quarter. Farther Finance Advisors LLC lifted its stake in shares of Enbridge by 64.6% during the 1st quarter. Farther Finance Advisors LLC now owns 20,355 shares of the pipeline company’s stock worth $907,000 after acquiring an additional 7,992 shares during the last quarter. Assenagon Asset Management S.A. lifted its stake in shares of Enbridge by 0.4% during the 1st quarter. Assenagon Asset Management S.A. now owns 75,420 shares of the pipeline company’s stock worth $3,337,000 after acquiring an additional 320 shares during the last quarter. Finally, CX Institutional bought a new stake in shares of Enbridge during the 1st quarter worth approximately $85,000. 54.60% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on ENB shares. CIBC lowered Enbridge from an “outperform” rating to a “neutral” rating in a research note on Thursday. National Bankshares reaffirmed a “sector perform” rating on shares of Enbridge in a research report on Tuesday, August 5th. Wall Street Zen lowered Enbridge from a “hold” rating to a “sell” rating in a research report on Sunday, September 21st. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Enbridge in a research report on Wednesday. Finally, Argus lifted their target price on Enbridge from $50.00 to $54.00 and gave the company a “buy” rating in a research report on Tuesday, August 12th. Six equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $60.50.

Enbridge Trading Down 0.7%

Shares of NYSE:ENB opened at $47.67 on Friday. Enbridge Inc has a 12-month low of $39.73 and a 12-month high of $50.54. The business’s fifty day simple moving average is $48.41 and its 200-day simple moving average is $46.25. The company has a market capitalization of $103.96 billion, a PE ratio of 23.48, a P/E/G ratio of 4.39 and a beta of 0.78. The company has a current ratio of 0.75, a quick ratio of 0.65 and a debt-to-equity ratio of 1.58.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings results on Friday, August 1st. The pipeline company reported $0.47 earnings per share (EPS) 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 business had revenue of $7.14 billion for the quarter, compared to the consensus estimate of $10.56 billion. During the same period last year, the business posted $0.58 EPS. As a group, equities research analysts predict that Enbridge Inc will post 2.14 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 1st. Stockholders of record on Friday, August 15th were issued a $0.6839 dividend. The ex-dividend date was Friday, August 15th. This represents a $2.74 dividend on an annualized basis and a dividend yield of 5.7%. This is a boost from Enbridge’s previous quarterly dividend of $0.68. Enbridge’s dividend payout ratio (DPR) is 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.