Strategic Wealth Partners Ltd. Cuts Position in Enbridge Inc (ENB)

Strategic Wealth Partners Ltd. cut its stake in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 23.7% in the 3rd quarter, HoldingsChannel reports. The fund owned 2,491 shares of the pipeline company’s stock after selling 773 shares during the quarter. Strategic Wealth Partners Ltd.’s holdings in Enbridge were worth $80,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Honkamp Krueger Financial Services Inc. purchased a new position in Enbridge in the third quarter worth $113,000. Legacy Advisors LLC purchased a new position in Enbridge in the third quarter worth $115,000. Girard Partners LTD. purchased a new position in Enbridge in the third quarter worth $116,000. Centersquare Investment Management LLC grew its position in Enbridge by 93.0% in the second quarter. Centersquare Investment Management LLC now owns 3,610 shares of the pipeline company’s stock worth $129,000 after acquiring an additional 1,740 shares in the last quarter. Finally, Truvestments Capital LLC purchased a new position in Enbridge in the third quarter worth $137,000. Institutional investors own 54.45% of the company’s stock.

Several brokerages recently issued reports on ENB. Zacks Investment Research upgraded shares of Enbridge from a “hold” rating to a “buy” rating and set a $38.00 target price for the company in a research report on Monday, October 8th. UBS Group began coverage on shares of Enbridge in a research note on Thursday, October 4th. They issued a “buy” rating for the company. Wells Fargo & Co raised shares of Enbridge from a “market perform” rating to an “outperform” rating in a research note on Monday, November 5th. Bank of America raised shares of Enbridge from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $49.00 to $50.00 in a research note on Friday, August 17th. Finally, Citigroup reissued a “neutral” rating on shares of Enbridge in a research note on Monday, September 24th. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $48.20.

Enbridge stock opened at $31.93 on Friday. The company has a quick ratio of 0.49, a current ratio of 0.59 and a debt-to-equity ratio of 0.98. The firm has a market capitalization of $59.09 billion, a price-to-earnings ratio of 20.73, a price-to-earnings-growth ratio of 1.34 and a beta of 0.56. Enbridge Inc has a twelve month low of $29.00 and a twelve month high of $41.21.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings results on Friday, November 2nd. The pipeline company reported $0.42 earnings per share for the quarter, hitting the consensus estimate of $0.42. The business had revenue of $8.68 billion during the quarter, compared to the consensus estimate of $8.28 billion. Enbridge had a net margin of 3.95% and a return on equity of 8.81%. During the same period in the previous year, the firm posted $0.39 earnings per share. On average, equities analysts anticipate that Enbridge Inc will post 2.09 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Saturday, December 1st. Shareholders of record on Thursday, November 15th were paid a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 6.39%. The ex-dividend date of this dividend was Wednesday, November 14th. Enbridge’s dividend payout ratio is presently 131.82%.

In other Enbridge news, insider Albert Monaco purchased 7,569 shares of the stock in a transaction on Tuesday, December 4th. The stock was acquired at an average cost of $43.82 per share, with a total value of $331,673.58. Following the completion of the purchase, the insider now directly owns 67,329 shares of the company’s stock, valued at approximately $2,950,356.78. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.48% of the company’s stock.

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Enbridge Company Profile

Enbridge Inc operates as an energy infrastructure company in Canada and the United States. The company operates in five segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution, Green Power and Transmission, and Energy Services. The Liquids Pipelines segment operates common carrier and contract crude oil, natural gas liquids (NGL), and refined products pipelines and terminals.

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Institutional Ownership by Quarter for Enbridge (NYSE:ENB)

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