Enbridge Inc $ENB Shares Sold by Loring Wolcott & Coolidge Fiduciary Advisors LLP MA

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA reduced its holdings in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 3.1% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,240 shares of the pipeline company’s stock after selling 675 shares during the quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings in Enbridge were worth $963,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Dagco Inc. acquired a new stake in shares of Enbridge in the first quarter valued at approximately $25,000. Financial Gravity Asset Management Inc. purchased a new stake in Enbridge in the 1st quarter valued at approximately $28,000. Accent Capital Management LLC purchased a new stake in Enbridge in the 1st quarter valued at approximately $30,000. FNY Investment Advisers LLC acquired a new stake in Enbridge during the 2nd quarter valued at $36,000. Finally, Private Wealth Asset Management LLC increased its position in Enbridge by 289.7% during the second quarter. Private Wealth Asset Management LLC now owns 834 shares of the pipeline company’s stock worth $38,000 after buying an additional 620 shares in the last quarter. Institutional investors and hedge funds own 54.60% of the company’s stock.

Enbridge Stock Performance

Enbridge stock opened at $47.20 on Friday. The company has a market cap of $102.94 billion, a price-to-earnings ratio of 23.25, a price-to-earnings-growth ratio of 4.39 and a beta of 0.78. Enbridge Inc has a 12 month low of $39.73 and a 12 month high of $50.54. 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 stock’s 50-day moving average is $48.44 and its 200-day moving average is $46.45.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its earnings results on Friday, August 1st. The pipeline company reported $0.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.06. The firm had revenue of $7.14 billion during the quarter, compared to the consensus estimate of $10.56 billion. Enbridge had a net margin of 10.11% and a return on equity of 10.77%. During the same quarter in the prior year, the company earned $0.58 EPS. Equities analysts anticipate that Enbridge Inc will post 2.14 earnings per share for the current year.

Enbridge Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 1st. Stockholders of record on Friday, August 15th were paid a $0.6839 dividend. The ex-dividend date of this dividend was Friday, August 15th. This represents a $2.74 dividend on an annualized basis and a dividend yield of 5.8%. This is a boost from Enbridge’s previous quarterly dividend of $0.68. Enbridge’s payout ratio is 134.98%.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. National Bankshares restated a “sector perform” rating on shares of Enbridge in a research report on Tuesday, August 5th. CIBC downgraded shares of Enbridge from an “outperform” rating to a “neutral” rating in a research note on Thursday, October 9th. Scotiabank reaffirmed a “sector perform” rating on shares of Enbridge in a research note on Monday. Jefferies Financial Group upgraded shares of Enbridge from a “hold” rating to a “buy” rating in a report on Wednesday, July 23rd. Finally, Zacks Research cut shares of Enbridge from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 17th. Six investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $60.50.

Enbridge Company 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.