Enbridge Inc $ENB Stock Holdings Decreased by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC reduced its position in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 9.2% in the 1st quarter, Holdings Channel reports. The institutional investor owned 98,447 shares of the pipeline company’s stock after selling 9,961 shares during the period. Sequoia Financial Advisors LLC’s holdings in Enbridge were worth $5,330,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. PFG Investments LLC lifted its holdings in Enbridge by 0.9% during the 1st quarter. PFG Investments LLC now owns 22,208 shares of the pipeline company’s stock worth $1,202,000 after buying an additional 202 shares during the last quarter. MIdWestOne Financial Group Inc. increased its holdings in shares of Enbridge by 4.3% in the 4th quarter. MIdWestOne Financial Group Inc. now owns 4,906 shares of the pipeline company’s stock valued at $235,000 after acquiring an additional 203 shares during the last quarter. Sumitomo Life Insurance Co. raised its position in shares of Enbridge by 1.1% during the 4th quarter. Sumitomo Life Insurance Co. now owns 18,621 shares of the pipeline company’s stock valued at $891,000 after acquiring an additional 205 shares in the last quarter. Arete Wealth Advisors LLC lifted its stake in Enbridge by 4.4% during the fourth quarter. Arete Wealth Advisors LLC now owns 4,914 shares of the pipeline company’s stock worth $235,000 after purchasing an additional 208 shares during the last quarter. Finally, Blue Fin Capital Inc. lifted its stake in Enbridge by 1.3% during the fourth quarter. Blue Fin Capital Inc. now owns 16,028 shares of the pipeline company’s stock worth $767,000 after purchasing an additional 213 shares during the last quarter. Institutional investors and hedge funds own 54.60% of the company’s stock.

Enbridge Stock Performance

Shares of NYSE ENB opened at $54.64 on Monday. Enbridge Inc has a 12-month low of $44.13 and a 12-month high of $58.45. The company has a market cap of $119.34 billion, a PE ratio of 25.65 and a beta of 0.58. The stock has a 50 day simple moving average of $55.48 and a 200-day simple moving average of $52.69. The company has a current ratio of 0.81, a quick ratio of 0.73 and a debt-to-equity ratio of 1.69.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its earnings results on Friday, May 8th. The pipeline company reported $0.71 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.02. Enbridge had a return on equity of 11.21% and a net margin of 9.83%.The firm had revenue of $9.37 billion for the quarter, compared to the consensus estimate of $8.49 billion. During the same quarter in the previous year, the business earned $1.03 EPS. On average, equities research analysts forecast that Enbridge Inc will post 2.15 EPS for the current year.

Enbridge Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Friday, May 15th were given a $0.97 dividend. This represents a $3.88 annualized dividend and a dividend yield of 7.1%. The ex-dividend date was Friday, May 15th. Enbridge’s dividend payout ratio is 133.80%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on ENB. Canadian Imperial Bank of Commerce reiterated a “neutral” rating on shares of Enbridge in a research note on Monday, May 11th. Scotiabank restated an “outperform” rating on shares of Enbridge in a research report on Monday, May 11th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Enbridge in a report on Friday, May 22nd. Royal Bank Of Canada boosted their price objective on shares of Enbridge from $76.00 to $79.00 and gave the company an “outperform” rating in a research report on Monday, May 11th. Finally, Wall Street Zen upgraded shares of Enbridge from a “sell” rating to a “hold” rating in a research note on Sunday. Seven research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $66.50.

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.