Beverly Hills Private Wealth LLC Has $814,000 Stock Position in Enbridge Inc $ENB

Beverly Hills Private Wealth LLC lowered its position in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 4.7% in the second quarter, HoldingsChannel reports. The fund owned 17,960 shares of the pipeline company’s stock after selling 883 shares during the period. Beverly Hills Private Wealth LLC’s holdings in Enbridge were worth $814,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Dagco Inc. acquired a new position in Enbridge during the 1st quarter worth approximately $25,000. Garde Capital Inc. acquired a new position in Enbridge during the 1st quarter worth approximately $26,000. Financial Gravity Asset Management Inc. acquired a new stake in shares of Enbridge in the 1st quarter valued at approximately $28,000. Accent Capital Management LLC acquired a new stake in shares of Enbridge in the 1st quarter valued at approximately $30,000. Finally, Private Wealth Asset Management LLC boosted its holdings in shares of Enbridge by 289.7% in the 2nd quarter. Private Wealth Asset Management LLC now owns 834 shares of the pipeline company’s stock valued at $38,000 after buying an additional 620 shares during the last quarter. Institutional investors and hedge funds own 54.60% of the company’s stock.

Enbridge Trading Up 0.3%

Shares of Enbridge stock opened at $47.22 on Tuesday. The company has a debt-to-equity ratio of 1.58, a current ratio of 0.75 and a quick ratio of 0.65. The company has a market capitalization of $102.97 billion, a price-to-earnings ratio of 23.26, a P/E/G ratio of 4.32 and a beta of 0.78. The business has a fifty day simple moving average of $48.46 and a two-hundred day simple moving average of $46.40. Enbridge Inc has a 1 year low of $39.73 and a 1 year high of $50.54.

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 firm had revenue of $7.14 billion for the quarter, compared to analysts’ expectations of $10.56 billion. Enbridge had a return on equity of 10.77% and a net margin of 10.11%.During the same quarter last year, the business earned $0.58 EPS. Research analysts forecast that Enbridge Inc will post 2.14 EPS for the current year.

Enbridge Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 1st. Shareholders of record on Friday, August 15th were given a dividend of $0.6839 per share. This represents a $2.74 annualized dividend and a yield of 5.8%. The ex-dividend date was Friday, August 15th. This is a positive change from Enbridge’s previous quarterly dividend of $0.68. Enbridge’s dividend payout ratio (DPR) is 134.98%.

Wall Street Analysts Forecast Growth

ENB has been the subject of several recent analyst reports. Weiss Ratings reissued a “buy (b)” rating on shares of Enbridge in a report on Wednesday, October 8th. Jefferies Financial Group raised Enbridge from a “hold” rating to a “buy” rating in a report on Wednesday, July 23rd. Argus increased their price objective on Enbridge from $50.00 to $54.00 and gave the company a “buy” rating in a report on Tuesday, August 12th. Scotiabank reissued a “sector perform” rating on shares of Enbridge in a report on Monday. Finally, Wall Street Zen downgraded Enbridge from a “hold” rating to a “sell” rating in a report on Sunday, September 21st. Six research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $60.50.

About Enbridge

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.