Intrua Financial LLC Sells 9,356 Shares of Enbridge Inc $ENB

Intrua Financial LLC lessened its position in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 11.1% during the 2nd quarter, HoldingsChannel reports. The fund owned 74,711 shares of the pipeline company’s stock after selling 9,356 shares during the quarter. Intrua Financial LLC’s holdings in Enbridge were worth $3,386,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Dagco Inc. bought a new position in shares of Enbridge in the 1st quarter valued at about $25,000. Whipplewood Advisors LLC grew its stake in shares of Enbridge by 112.4% during the second quarter. Whipplewood Advisors LLC now owns 582 shares of the pipeline company’s stock worth $26,000 after purchasing an additional 308 shares during the period. Accent Capital Management LLC acquired a new position in Enbridge in the first quarter valued at about $30,000. Addison Advisors LLC acquired a new position in Enbridge in the second quarter valued at about $35,000. Finally, FNY Investment Advisers LLC bought a new position in Enbridge during the second quarter worth about $36,000. Institutional investors and hedge funds own 54.60% of the company’s stock.

Enbridge Stock Performance

Shares of ENB stock opened at $48.28 on Friday. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.65 and a current ratio of 0.75. Enbridge Inc has a 52 week low of $39.73 and a 52 week high of $50.54. The company’s 50 day moving average price is $48.28 and its two-hundred day moving average price is $46.82. The company has a market capitalization of $105.29 billion, a P/E ratio of 23.78, a price-to-earnings-growth ratio of 4.31 and a beta of 0.76.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings data on Friday, November 7th. The pipeline company reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.06). The company had revenue of $7 billion for the quarter, compared to the consensus estimate of $8.45 billion. Enbridge had a return on equity of 10.77% and a net margin of 10.11%.During the same period in the prior year, the company earned $0.55 EPS. On average, analysts expect that Enbridge Inc will post 2.14 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Friday, November 14th will be issued a dividend of $0.9425 per share. The ex-dividend date is Friday, November 14th. This is a boost from Enbridge’s previous quarterly dividend of $0.68. This represents a $3.77 dividend on an annualized basis and a dividend yield of 7.8%. Enbridge’s dividend payout ratio is 147.25%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Jefferies Financial Group raised Enbridge from a “hold” rating to a “buy” rating in a research note on Wednesday, July 23rd. Argus upped their target price on shares of Enbridge from $50.00 to $54.00 and gave the company a “buy” rating in a research note on Tuesday, August 12th. Wall Street Zen lowered shares of Enbridge from a “hold” rating to a “sell” rating in a report on Sunday, September 21st. Cibc World Mkts lowered shares of Enbridge from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 9th. Finally, CIBC cut shares of Enbridge from an “outperform” rating to a “neutral” rating in a research report on Thursday, October 9th. Six research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Enbridge has a consensus rating of “Hold” and a consensus target price of $63.00.

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.