Enbridge Inc. (NYSE:ENB) Shares Sold by AE Wealth Management LLC

Posted by Defense World Staff on Sep 21st, 2023

AE Wealth Management LLC cut its stake in Enbridge Inc. (NYSE:ENB – Free Report) (TSE:ENB) by 10.9% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 126,844 shares of the pipeline company’s stock after selling 15,566 shares during the period. AE Wealth Management LLC’s holdings in Enbridge were worth $4,712,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of ENB. Coppell Advisory Solutions Corp. acquired a new stake in shares of Enbridge in the fourth quarter worth approximately $25,000. Industrial Alliance Investment Management Inc. acquired a new stake in shares of Enbridge in the fourth quarter worth approximately $25,000. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Enbridge in the first quarter worth approximately $27,000. MBM Wealth Consultants LLC purchased a new position in Enbridge in the fourth quarter valued at approximately $39,000. Finally, Antonetti Capital Management LLC raised its holdings in Enbridge by 58.2% in the first quarter. Antonetti Capital Management LLC now owns 1,087 shares of the pipeline company’s stock valued at $41,000 after buying an additional 400 shares during the period. 48.29% of the stock is owned by institutional investors and hedge funds.

Enbridge Trading Up 0.0 %

ENB opened at $34.97 on Thursday. The firm has a market capitalization of $74.32 billion, a P/E ratio of 24.98, a P/E/G ratio of 2.76 and a beta of 0.85. The firm’s 50 day moving average is $35.56 and its 200-day moving average is $37.04. Enbridge Inc. has a 52-week low of $32.90 and a 52-week high of $42.12. The company has a quick ratio of 0.55, a current ratio of 0.64 and a debt-to-equity ratio of 1.27.

Enbridge (NYSE:ENB – Get Free Report) (TSE:ENB) last posted its quarterly earnings data on Friday, August 4th. The pipeline company reported $0.51 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.51. The company had revenue of $7.77 billion for the quarter, compared to analyst estimates of $7.49 billion. Enbridge had a net margin of 8.58% and a return on equity of 10.20%. Analysts expect that Enbridge Inc. will post 2.11 EPS for the current fiscal year.

Enbridge Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 1st. Investors of record on Tuesday, August 15th were paid a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a dividend yield of 7.66%. The ex-dividend date of this dividend was Monday, August 14th. This is a positive change from Enbridge’s previous quarterly dividend of $0.66. Enbridge’s payout ratio is 187.86%.

Analyst Upgrades and Downgrades

ENB has been the topic of several research reports. TD Securities cut their price target on shares of Enbridge from $62.00 to $58.00 and set a “buy” rating on the stock in a report on Tuesday, August 8th. Scotiabank initiated coverage on shares of Enbridge in a report on Monday, September 11th. They issued a “sector perform” rating on the stock. CIBC raised their price target on shares of Enbridge from $63.00 to $64.00 and gave the company an “outperformer” rating in a report on Monday, September 11th. StockNews.com initiated coverage on shares of Enbridge in a report on Thursday, August 17th. They issued a “hold” rating on the stock. Finally, Royal Bank of Canada cut their price target on shares of Enbridge from $65.00 to $60.00 and set an “outperform” rating on the stock in a report on Monday, August 7th. Six analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $58.43.

Read Our Latest Stock Analysis on ENB

Enbridge Profile

(Free Report)

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.