Salem Investment Counselors Inc. Sells 550 Shares of Enbridge Inc $ENB

Salem Investment Counselors Inc. decreased its position in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 0.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 160,116 shares of the pipeline company’s stock after selling 550 shares during the quarter. Salem Investment Counselors Inc.’s holdings in Enbridge were worth $7,256,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC grew its stake in shares of Enbridge by 6.1% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 438,557 shares of the pipeline company’s stock worth $19,431,000 after acquiring an additional 25,071 shares in the last quarter. Hartline Investment Corp boosted its holdings in shares of Enbridge by 31.3% in the 1st quarter. Hartline Investment Corp now owns 36,098 shares of the pipeline company’s stock worth $1,600,000 after buying an additional 8,610 shares during the last quarter. Wellington Management Group LLP boosted its holdings in shares of Enbridge by 0.7% in the 4th quarter. Wellington Management Group LLP now owns 1,150,521 shares of the pipeline company’s stock worth $48,806,000 after buying an additional 7,890 shares during the last quarter. JBR Co Financial Management Inc purchased a new position in shares of Enbridge in the 1st quarter worth about $330,000. Finally, Raymond James Financial Inc. boosted its holdings in shares of Enbridge by 0.8% in the 1st quarter. Raymond James Financial Inc. now owns 4,299,977 shares of the pipeline company’s stock worth $190,532,000 after buying an additional 35,515 shares during the last quarter. Institutional investors own 54.60% of the company’s stock.

Enbridge Stock Up 0.6%

ENB stock opened at $49.11 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 company’s 50 day moving average is $46.65 and its 200 day moving average is $45.38. The stock has a market cap of $107.10 billion, a price-to-earnings ratio of 24.19, a price-to-earnings-growth ratio of 4.46 and a beta of 0.80. Enbridge Inc has a 1-year low of $39.73 and a 1-year high of $49.11.

Enbridge (NYSE:ENB) (TSE:ENB) last posted 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. The company had revenue of $7.14 billion for the quarter, compared to analysts’ expectations of $10.56 billion. Enbridge had a net margin of 10.11% and a return on equity of 10.77%. During the same period in the prior year, the business earned $0.58 earnings per share. Sell-side analysts predict that Enbridge Inc will post 2.14 EPS for the current fiscal year.

Enbridge Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 1st. Investors of record on Friday, August 15th were given a $0.6839 dividend. This represents a $2.74 annualized dividend and a dividend yield of 5.6%. This is a positive change from Enbridge’s previous quarterly dividend of $0.68. The ex-dividend date was Friday, August 15th. Enbridge’s dividend payout ratio (DPR) is currently 134.98%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on ENB shares. Wall Street Zen raised shares of Enbridge from a “sell” rating to a “hold” rating in a report on Saturday. Argus boosted their price target on shares of Enbridge from $50.00 to $54.00 and gave the stock a “buy” rating in a report on Tuesday, August 12th. Jefferies Financial Group raised shares of Enbridge from a “hold” rating to a “buy” rating in a report on Wednesday, July 23rd. Zacks Research raised shares of Enbridge from a “hold” rating to a “strong-buy” rating in a report on Friday, August 15th. Finally, National Bankshares reaffirmed a “sector perform” rating on shares of Enbridge in a report on Tuesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and four have given a Hold rating to the company. According to MarketBeat, Enbridge currently has a consensus rating of “Moderate Buy” and an average target price of $60.50.

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.