Enbridge Inc (NYSE:ENB) Shares Sold by ERTS Wealth Advisors LLC

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ERTS Wealth Advisors LLC lessened its stake in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 12.1% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 53,904 shares of the pipeline company’s stock after selling 7,403 shares during the period. Enbridge accounts for approximately 1.1% of ERTS Wealth Advisors LLC’s investment portfolio, making the stock its 16th biggest position. ERTS Wealth Advisors LLC’s holdings in Enbridge were worth $1,945,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ENB. TD Asset Management Inc. grew its stake in shares of Enbridge by 3.7% in the 1st quarter. TD Asset Management Inc. now owns 46,596,794 shares of the pipeline company’s stock valued at $1,688,151,000 after buying an additional 1,648,741 shares during the period. The Manufacturers Life Insurance Company grew its stake in shares of Enbridge by 10.3% in the 1st quarter. The Manufacturers Life Insurance Company now owns 14,089,169 shares of the pipeline company’s stock valued at $510,874,000 after buying an additional 1,320,420 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Enbridge by 5.1% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 13,372,445 shares of the pipeline company’s stock valued at $484,469,000 after buying an additional 652,618 shares during the period. Great West Life Assurance Co. Can grew its stake in shares of Enbridge by 6.8% in the 2nd quarter. Great West Life Assurance Co. Can now owns 13,006,953 shares of the pipeline company’s stock valued at $468,753,000 after buying an additional 833,190 shares during the period. Finally, Bank of Nova Scotia grew its stake in shares of Enbridge by 0.8% in the 2nd quarter. Bank of Nova Scotia now owns 12,535,497 shares of the pipeline company’s stock valued at $448,587,000 after buying an additional 103,842 shares during the period. Hedge funds and other institutional investors own 53.86% of the company’s stock.

Several analysts have recently weighed in on ENB shares. Goldman Sachs Group started coverage on shares of Enbridge in a research note on Thursday, July 18th. They issued a “neutral” rating for the company. ValuEngine cut shares of Enbridge from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. Wolfe Research cut shares of Enbridge from an “outperform” rating to a “peer perform” rating and set a $37.00 price target for the company. in a research note on Thursday, June 13th. Finally, Bank of America cut shares of Enbridge from a “buy” rating to a “neutral” rating and set a $49.00 price target for the company. in a research note on Tuesday, July 2nd. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $43.75.

Shares of ENB stock traded up $0.19 during trading hours on Friday, hitting $34.89. The company had a trading volume of 57,428 shares, compared to its average volume of 3,363,924. The company’s fifty day moving average is $33.61 and its 200 day moving average is $35.75. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.63 and a quick ratio of 0.53. Enbridge Inc has a fifty-two week low of $28.82 and a fifty-two week high of $38.04. The stock has a market capitalization of $70.32 billion, a PE ratio of 17.05, a price-to-earnings-growth ratio of 2.72 and a beta of 0.57.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings data on Friday, August 2nd. The pipeline company reported $0.50 EPS for the quarter, topping the consensus estimate of $0.42 by $0.08. Enbridge had a net margin of 9.97% and a return on equity of 8.16%. The firm had revenue of $9.92 billion for the quarter. Equities analysts forecast that Enbridge Inc will post 1.9 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Thursday, August 15th were issued a dividend of $0.559 per share. The ex-dividend date of this dividend was Wednesday, August 14th. This is a positive change from Enbridge’s previous quarterly dividend of $0.52. This represents a $2.24 dividend on an annualized basis and a yield of 6.41%. Enbridge’s dividend payout ratio is 107.80%.

Enbridge Company Profile

Enbridge Inc operates as an energy infrastructure company in Canada and the United States. The company operates through 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.

Read More: The Structure of a Futures Contract

Institutional Ownership by Quarter for Enbridge (NYSE:ENB)

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