Drucker Wealth 3.0 LLC Sells 42,839 Shares of Enbridge Inc $ENB

Drucker Wealth 3.0 LLC decreased its stake in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 47.5% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 47,419 shares of the pipeline company’s stock after selling 42,839 shares during the quarter. Drucker Wealth 3.0 LLC’s holdings in Enbridge were worth $2,393,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Tsfg LLC lifted its position in shares of Enbridge by 329.6% in the third quarter. Tsfg LLC now owns 494 shares of the pipeline company’s stock worth $25,000 after buying an additional 379 shares in the last quarter. Whipplewood Advisors LLC increased its stake in Enbridge by 112.4% in the 2nd quarter. Whipplewood Advisors LLC now owns 582 shares of the pipeline company’s stock worth $26,000 after acquiring an additional 308 shares during the last quarter. Highline Wealth Partners LLC raised its holdings in shares of Enbridge by 73.1% during the 3rd quarter. Highline Wealth Partners LLC now owns 559 shares of the pipeline company’s stock worth $28,000 after acquiring an additional 236 shares in the last quarter. Financial Gravity Companies Inc. bought a new position in shares of Enbridge during the 2nd quarter valued at approximately $29,000. Finally, True Wealth Design LLC grew its holdings in shares of Enbridge by 588.2% in the third quarter. True Wealth Design LLC now owns 585 shares of the pipeline company’s stock valued at $30,000 after purchasing an additional 500 shares in the last quarter. 54.60% of the stock is currently owned by institutional investors.

Enbridge Price Performance

ENB opened at $51.46 on Wednesday. The business has a fifty day moving average of $48.15 and a 200 day moving average of $48.09. The stock has a market cap of $112.28 billion, a P/E ratio of 22.37 and a beta of 0.69. The company has a quick ratio of 0.68, a current ratio of 0.80 and a debt-to-equity ratio of 1.64. Enbridge Inc has a 52-week low of $39.73 and a 52-week high of $54.19.

Enbridge (NYSE:ENB) (TSE:ENB) last released its earnings results on Friday, February 13th. The pipeline company reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.60 by $0.03. The business had revenue of $17.18 billion for the quarter, compared to analyst estimates of $9.10 billion. Enbridge had a return on equity of 11.01% and a net margin of 11.30%.During the same quarter last year, the firm posted $0.75 earnings per share. As a group, sell-side analysts anticipate that Enbridge Inc will post 2.14 EPS for the current year.

Enbridge Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, March 1st. Shareholders of record on Tuesday, February 17th will be given a $0.97 dividend. This is a positive change from Enbridge’s previous quarterly dividend of $0.94. The ex-dividend date of this dividend is Tuesday, February 17th. This represents a $3.88 annualized dividend and a yield of 7.5%. Enbridge’s dividend payout ratio is presently 116.96%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Scotiabank reaffirmed an “outperform” rating on shares of Enbridge in a research note on Tuesday. Royal Bank Of Canada upped their target price on shares of Enbridge from $72.00 to $76.00 and gave the company an “outperform” rating in a research report on Tuesday. National Bank Financial reiterated a “sector perform” rating on shares of Enbridge in a research report on Monday, November 10th. JPMorgan Chase & Co. downgraded Enbridge from an “overweight” rating to a “neutral” rating in a research report on Tuesday, January 27th. Finally, BMO Capital Markets reaffirmed a “market perform” rating on shares of Enbridge in a research note on Tuesday. Six equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $65.00.

About Enbridge

Enbridge Inc is a Calgary, Alberta–based energy infrastructure company that develops, owns and operates a diversified portfolio of energy transportation, distribution and generation assets. Its core activities include the operation of crude oil and liquids pipelines, natural gas transmission and distribution systems, and energy storage facilities. In addition to midstream transportation and storage, Enbridge has expanded into renewable power generation and energy transition projects, including wind, solar and utility-scale generation assets.

The company serves customers primarily in Canada and the United States and has interests in other international energy projects.