Tcfg Wealth Management LLC Reduces Stock Holdings in Enbridge Inc $ENB

Tcfg Wealth Management LLC reduced its position in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 12.4% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 10,358 shares of the pipeline company’s stock after selling 1,467 shares during the quarter. Tcfg Wealth Management LLC’s holdings in Enbridge were worth $469,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the business. Dagco Inc. purchased a new position in shares of Enbridge in the first quarter worth approximately $25,000. Garde Capital Inc. purchased a new position in shares of Enbridge during the 1st quarter worth $26,000. Financial Gravity Asset Management Inc. purchased a new position in shares of Enbridge during the 1st quarter worth $28,000. Accent Capital Management LLC bought a new stake in shares of Enbridge during the 1st quarter valued at $30,000. Finally, Wolff Wiese Magana LLC increased its stake in shares of Enbridge by 91.3% in the 1st quarter. Wolff Wiese Magana LLC now owns 765 shares of the pipeline company’s stock worth $34,000 after purchasing an additional 365 shares in the last quarter. Institutional investors own 54.60% of the company’s stock.

Enbridge Stock Down 0.6%

Shares of ENB opened at $49.78 on Tuesday. The business’s 50 day moving average is $48.16 and its 200 day moving average is $46.16. The company has a current ratio of 0.75, a quick ratio of 0.65 and a debt-to-equity ratio of 1.58. Enbridge Inc has a 12-month low of $39.73 and a 12-month high of $50.54. The company has a market capitalization of $108.56 billion, a PE ratio of 24.52, a price-to-earnings-growth ratio of 4.58 and a beta of 0.78.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings results 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 return on equity of 10.77% and a net margin of 10.11%.The business had revenue of $7.14 billion during the quarter, compared to the consensus estimate of $10.56 billion. During the same period in the prior year, the company posted $0.58 EPS. Research analysts expect that Enbridge Inc will post 2.14 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 1st. Investors of record on Friday, August 15th were paid a dividend of $0.6839 per share. The ex-dividend date of this dividend 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 5.5%. Enbridge’s dividend payout ratio is 134.98%.

Analysts Set New Price Targets

ENB has been the topic of several analyst reports. Jefferies Financial Group upgraded Enbridge from a “hold” rating to a “buy” rating in a research report on Wednesday, July 23rd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Enbridge in a research report on Saturday, September 27th. Argus increased their target price on shares of Enbridge from $50.00 to $54.00 and gave the stock a “buy” rating in a report on Tuesday, August 12th. Wall Street Zen cut shares of Enbridge from a “hold” rating to a “sell” rating in a research note on Sunday, September 21st. Finally, National Bankshares reiterated a “sector perform” rating on shares of Enbridge in a research report on Tuesday, August 5th. Seven analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, Enbridge presently has a consensus rating of “Moderate Buy” and a consensus 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.