Advocate Group LLC Has $11.15 Million Position in Enbridge Inc $ENB

Advocate Group LLC cut its holdings in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 1.0% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 245,923 shares of the pipeline company’s stock after selling 2,514 shares during the quarter. Enbridge makes up about 2.0% of Advocate Group LLC’s investment portfolio, making the stock its 10th biggest position. Advocate Group LLC’s holdings in Enbridge were worth $11,145,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. IFP Advisors Inc boosted its position in shares of Enbridge by 1.2% during the second quarter. IFP Advisors Inc now owns 18,217 shares of the pipeline company’s stock valued at $826,000 after buying an additional 221 shares during the period. Capital Investment Counsel Inc increased its position in shares of Enbridge by 3.1% in the 1st quarter. Capital Investment Counsel Inc now owns 7,527 shares of the pipeline company’s stock valued at $333,000 after acquiring an additional 223 shares during the period. Bay Colony Advisory Group Inc d b a Bay Colony Advisors grew its position in Enbridge by 0.7% during the 1st quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 34,326 shares of the pipeline company’s stock worth $1,526,000 after purchasing an additional 226 shares during the period. Loudon Investment Management LLC boosted its stake in shares of Enbridge by 1.1% during the 1st quarter. Loudon Investment Management LLC now owns 21,201 shares of the pipeline company’s stock worth $939,000 after acquiring an additional 240 shares in the last quarter. Finally, Key Client Fiduciary Advisors LLC boosted its stake in shares of Enbridge by 1.7% during the 2nd quarter. Key Client Fiduciary Advisors LLC now owns 14,606 shares of the pipeline company’s stock worth $662,000 after acquiring an additional 242 shares in the last quarter. 54.60% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Enbridge in a research report on Wednesday. Wall Street Zen downgraded shares of Enbridge from a “hold” rating to a “sell” rating in a research note on Sunday, September 21st. CIBC cut shares of Enbridge from an “outperform” rating to a “neutral” rating in a report on Thursday. National Bankshares restated a “sector perform” rating on shares of Enbridge in a research report on Tuesday, August 5th. Finally, Zacks Research downgraded shares of Enbridge from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 17th. Six analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $60.50.

Enbridge Stock Down 0.7%

ENB stock opened at $47.67 on Friday. The firm has a market cap of $103.96 billion, a PE ratio of 23.48, a PEG ratio of 4.37 and a beta of 0.78. The company has a current ratio of 0.75, a quick ratio of 0.65 and a debt-to-equity ratio of 1.58. Enbridge Inc has a 1 year low of $39.73 and a 1 year high of $50.54. The company has a fifty day simple moving average of $48.41 and a 200 day simple moving average of $46.26.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings data on Friday, August 1st. The pipeline company reported $0.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.06. The company had revenue of $7.14 billion for 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 previous year, the firm posted $0.58 EPS. Sell-side analysts anticipate that Enbridge Inc will post 2.14 EPS for the current fiscal year.

Enbridge Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 1st. Stockholders of record on Friday, August 15th were paid a dividend of $0.6839 per share. The ex-dividend date was Friday, August 15th. This represents a $2.74 annualized dividend and a dividend yield of 5.7%. This is a boost from Enbridge’s previous quarterly dividend of $0.68. Enbridge’s dividend payout ratio (DPR) is presently 134.98%.

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.