Prospera Financial Services Inc Decreases Stake in Enbridge Inc $ENB

Prospera Financial Services Inc lessened its holdings in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 3.8% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 36,133 shares of the pipeline company’s stock after selling 1,417 shares during the quarter. Prospera Financial Services Inc’s holdings in Enbridge were worth $1,638,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Brighton Jones LLC acquired a new stake in Enbridge in the 4th quarter valued at $261,000. Alps Advisors Inc. grew its stake in shares of Enbridge by 40.1% in the first quarter. Alps Advisors Inc. now owns 17,994 shares of the pipeline company’s stock valued at $797,000 after buying an additional 5,147 shares in the last quarter. Cerity Partners LLC raised its holdings in shares of Enbridge by 5.9% during the 1st quarter. Cerity Partners LLC now owns 229,873 shares of the pipeline company’s stock valued at $10,186,000 after buying an additional 12,758 shares during the period. Bleakley Financial Group LLC lifted its position in Enbridge by 1.9% during the 1st quarter. Bleakley Financial Group LLC now owns 19,684 shares of the pipeline company’s stock worth $872,000 after acquiring an additional 367 shares in the last quarter. Finally, Sigma Planning Corp raised its stake in shares of Enbridge by 2.7% during the first quarter. Sigma Planning Corp now owns 60,303 shares of the pipeline company’s stock valued at $2,672,000 after purchasing an additional 1,611 shares during the period. 54.60% of the stock is owned by institutional investors and hedge funds.

Enbridge Stock Up 0.7%

ENB stock opened at $48.27 on Wednesday. The firm has a market cap of $105.28 billion, a price-to-earnings ratio of 23.78, a PEG ratio of 4.31 and a beta of 0.76. Enbridge Inc has a 1-year low of $39.73 and a 1-year high of $50.54. The firm has a fifty day moving average price of $48.27 and a two-hundred day moving average price of $46.79. The company has a debt-to-equity ratio of 1.58, a current ratio of 0.75 and a quick ratio of 0.65.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings results on Friday, November 7th. The pipeline company reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.06). Enbridge had a return on equity of 10.77% and a net margin of 10.11%.The business had revenue of $7 billion during the quarter, compared to the consensus estimate of $8.45 billion. During the same quarter in the previous year, the business posted $0.55 earnings per share. Research analysts predict that Enbridge Inc will post 2.14 EPS for the current year.

Enbridge Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Friday, November 14th will be paid a $0.9425 dividend. The ex-dividend date is Friday, November 14th. This is a positive change from Enbridge’s previous quarterly dividend of $0.68. This represents a $3.77 dividend on an annualized basis and a yield of 7.8%. Enbridge’s dividend payout ratio (DPR) is 147.25%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on ENB shares. Wall Street Zen downgraded shares of Enbridge from a “hold” rating to a “sell” rating in a research note on Sunday, September 21st. Argus increased their price target on Enbridge from $50.00 to $54.00 and gave the company a “buy” rating in a report on Tuesday, August 12th. Cibc World Mkts downgraded Enbridge from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 9th. CIBC cut shares of Enbridge from an “outperform” rating to a “neutral” rating in a report on Thursday, October 9th. Finally, BMO Capital Markets reiterated a “market perform” rating on shares of Enbridge in a research note on Monday. Six investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $63.00.

Enbridge 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.