Parcion Private Wealth LLC Sells 9,000 Shares of Enbridge Inc $ENB

Parcion Private Wealth LLC lessened its position in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 42.7% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 12,080 shares of the pipeline company’s stock after selling 9,000 shares during the period. Parcion Private Wealth LLC’s holdings in Enbridge were worth $547,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of ENB. Vanguard Group Inc. boosted its position in Enbridge by 1.7% during the first quarter. Vanguard Group Inc. now owns 93,187,025 shares of the pipeline company’s stock valued at $4,124,271,000 after acquiring an additional 1,569,879 shares during the last quarter. GQG Partners LLC boosted its position in shares of Enbridge by 1.5% during the 1st quarter. GQG Partners LLC now owns 75,439,320 shares of the pipeline company’s stock valued at $3,338,405,000 after purchasing an additional 1,148,580 shares in the last quarter. TD Asset Management Inc boosted its position in shares of Enbridge by 1.6% during the 2nd quarter. TD Asset Management Inc now owns 39,883,394 shares of the pipeline company’s stock valued at $1,804,913,000 after purchasing an additional 617,577 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in Enbridge by 137.9% during the first quarter. Goldman Sachs Group Inc. now owns 32,907,433 shares of the pipeline company’s stock worth $1,458,128,000 after purchasing an additional 19,074,827 shares during the period. Finally, JPMorgan Chase & Co. increased its holdings in Enbridge by 10.5% in the first quarter. JPMorgan Chase & Co. now owns 17,643,681 shares of the pipeline company’s stock worth $781,792,000 after purchasing an additional 1,680,116 shares in the last quarter. Institutional investors and hedge funds own 54.60% of the company’s stock.

Enbridge Stock Up 0.9%

Shares of NYSE ENB opened at $47.72 on Thursday. The firm has a market cap of $104.06 billion, a PE ratio of 23.51, a P/E/G ratio of 4.35 and a beta of 0.78. Enbridge Inc has a 12-month low of $39.73 and a 12-month high of $50.54. The company’s fifty day simple moving average is $48.46 and its 200 day simple moving average is $46.41. The company has a quick ratio of 0.65, a current ratio of 0.75 and a debt-to-equity ratio of 1.58.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings data on Friday, August 1st. The pipeline company reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.06. Enbridge had a net margin of 10.11% and a return on equity of 10.77%. The firm had revenue of $7.14 billion for the quarter, compared to the consensus estimate of $10.56 billion. During the same quarter in the prior year, the company posted $0.58 earnings per share. As a group, sell-side analysts forecast that Enbridge Inc will post 2.14 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 1st. Shareholders of record on Friday, August 15th were issued a dividend of $0.6839 per share. The ex-dividend date was Friday, August 15th. This is a positive change from Enbridge’s previous quarterly dividend of $0.68. This represents a $2.74 annualized dividend and a yield of 5.7%. Enbridge’s dividend payout ratio is currently 134.98%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on ENB. Wall Street Zen cut Enbridge from a “hold” rating to a “sell” rating in a report on Sunday, September 21st. Argus increased their target price on shares of Enbridge from $50.00 to $54.00 and gave the stock a “buy” rating in a research note on Tuesday, August 12th. Jefferies Financial Group raised shares of Enbridge from a “hold” rating to a “buy” rating in a research note on Wednesday, July 23rd. Zacks Research lowered shares of Enbridge from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 17th. Finally, CIBC lowered shares of Enbridge from an “outperform” rating to a “neutral” rating in a research note on Thursday, October 9th. Six research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $60.50.

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.