Daymark Wealth Partners LLC Sells 480 Shares of Enbridge Inc. (NYSE:ENB)

Daymark Wealth Partners LLC cut its position in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 3.7% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 12,562 shares of the pipeline company’s stock after selling 480 shares during the period. Daymark Wealth Partners LLC’s holdings in Enbridge were worth $557,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of ENB. Portside Wealth Group LLC boosted its stake in shares of Enbridge by 7.8% during the first quarter. Portside Wealth Group LLC now owns 32,645 shares of the pipeline company’s stock valued at $1,446,000 after purchasing an additional 2,365 shares in the last quarter. Priebe Wealth Holdings LLC raised its stake in Enbridge by 6.1% in the first quarter. Priebe Wealth Holdings LLC now owns 5,464 shares of the pipeline company’s stock worth $242,000 after buying an additional 313 shares in the last quarter. Capital Investment Advisors LLC raised its stake in Enbridge by 2.2% in the first quarter. Capital Investment Advisors LLC now owns 49,281 shares of the pipeline company’s stock worth $2,184,000 after buying an additional 1,054 shares in the last quarter. Patriot Financial Group Insurance Agency LLC raised its holdings in Enbridge by 4.5% in the first quarter. Patriot Financial Group Insurance Agency LLC now owns 41,502 shares of the pipeline company’s stock worth $1,839,000 after purchasing an additional 1,791 shares in the last quarter. Finally, LexAurum Advisors LLC lifted its position in shares of Enbridge by 26.9% during the first quarter. LexAurum Advisors LLC now owns 6,126 shares of the pipeline company’s stock valued at $271,000 after buying an additional 1,299 shares during the last quarter. 54.60% of the stock is owned by institutional investors.

Enbridge Price Performance

Shares of ENB opened at $45.83 on Wednesday. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.55 and a quick ratio of 0.54. The company’s fifty day moving average price is $45.19 and its 200-day moving average price is $43.91. Enbridge Inc. has a 1-year low of $34.60 and a 1-year high of $47.44. The firm has a market capitalization of $99.92 billion, a PE ratio of 26.65, a price-to-earnings-growth ratio of 3.92 and a beta of 0.81.

Enbridge (NYSE:ENB) (TSE:ENB) last released its earnings results on Friday, May 9th. The pipeline company reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.04. Enbridge had a return on equity of 10.16% and a net margin of 10.04%. The firm had revenue of $7.27 billion during the quarter, compared to the consensus estimate of $10.20 billion. During the same quarter in the previous year, the company posted $0.92 earnings per share. On average, equities research analysts predict that Enbridge Inc. will post 2.14 EPS for the current year.

Enbridge Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, June 1st. Stockholders of record on Thursday, May 15th were issued a $0.679 dividend. This is an increase from Enbridge’s previous quarterly dividend of $0.67. This represents a $2.72 annualized dividend and a dividend yield of 5.93%. The ex-dividend date was Thursday, May 15th. Enbridge’s dividend payout ratio is 139.69%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on ENB shares. Wall Street Zen upgraded shares of Enbridge from a “sell” rating to a “hold” rating in a research note on Thursday, May 22nd. BMO Capital Markets reaffirmed a “market perform” rating on shares of Enbridge in a research report on Monday, May 12th. Royal Bank of Canada reiterated an “outperform” rating and set a $67.00 price objective on shares of Enbridge in a report on Monday, May 12th. CIBC restated an “outperform” rating on shares of Enbridge in a research note on Wednesday, March 5th. Finally, Raymond James upgraded Enbridge to a “moderate buy” rating in a research note on Wednesday, April 23rd. Six analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $67.00.

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.