MADDEN SECURITIES Corp Reduces Stock Holdings in Enbridge Inc $ENB

MADDEN SECURITIES Corp reduced its holdings in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 2.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 155,902 shares of the pipeline company’s stock after selling 3,507 shares during the period. Enbridge makes up 2.4% of MADDEN SECURITIES Corp’s holdings, making the stock its 11th largest position. MADDEN SECURITIES Corp’s holdings in Enbridge were worth $7,065,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Dagco Inc. acquired a new position in shares of Enbridge during the first quarter valued at about $25,000. Garde Capital Inc. acquired a new stake in Enbridge in the 1st quarter worth approximately $26,000. Financial Gravity Asset Management Inc. purchased a new stake in Enbridge during the 1st quarter worth approximately $28,000. Accent Capital Management LLC acquired a new position in Enbridge during the 1st quarter valued at approximately $30,000. Finally, Wolff Wiese Magana LLC raised its holdings in shares of Enbridge by 91.3% in the first quarter. Wolff Wiese Magana LLC now owns 765 shares of the pipeline company’s stock worth $34,000 after buying an additional 365 shares during the last quarter. Institutional investors and hedge funds own 54.60% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on ENB. Wall Street Zen downgraded shares of Enbridge from a “hold” rating to a “sell” rating in a research note on Sunday, September 21st. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Enbridge in a research report on Saturday, September 27th. National Bankshares reissued a “sector perform” rating on shares of Enbridge in a report on Tuesday, August 5th. Zacks Research cut Enbridge from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 17th. Finally, Jefferies Financial Group upgraded Enbridge from a “hold” rating to a “buy” rating in a research report on Wednesday, July 23rd. Seven investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $60.50.

Enbridge Stock Performance

Shares of ENB stock opened at $49.78 on Tuesday. 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 stock has a market cap of $108.56 billion, a PE ratio of 24.52, a price-to-earnings-growth ratio of 4.58 and a beta of 0.78. The business has a 50-day simple moving average of $48.16 and a 200-day simple moving average of $46.16.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings results on Friday, August 1st. The pipeline company reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.06. Enbridge had a return on equity of 10.77% and a net margin of 10.11%.The company had revenue of $7.14 billion during the quarter, compared to analysts’ expectations of $10.56 billion. During the same period last year, the business earned $0.58 earnings per share. On average, equities 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. Stockholders of record on Friday, August 15th were issued a dividend of $0.6839 per share. This is a positive change from Enbridge’s previous quarterly dividend of $0.68. The ex-dividend date of this dividend was Friday, August 15th. This represents a $2.74 annualized dividend and a dividend yield of 5.5%. Enbridge’s payout ratio is presently 134.98%.

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.