Founders Financial Alliance LLC Has $425,000 Position in Enbridge Inc. (NYSE:ENB)

Founders Financial Alliance LLC lessened its stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 7.0% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 11,939 shares of the pipeline company’s stock after selling 902 shares during the quarter. Founders Financial Alliance LLC’s holdings in Enbridge were worth $425,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ENB. Jones Financial Companies Lllp grew its stake in shares of Enbridge by 34.0% in the 4th quarter. Jones Financial Companies Lllp now owns 30,656 shares of the pipeline company’s stock valued at $1,104,000 after buying an additional 7,776 shares in the last quarter. Eisler Capital UK Ltd. increased its stake in shares of Enbridge by 607.1% during the 4th quarter. Eisler Capital UK Ltd. now owns 19,614 shares of the pipeline company’s stock worth $706,000 after purchasing an additional 23,482 shares during the last quarter. Crossmark Global Holdings Inc. raised its holdings in shares of Enbridge by 0.8% during the 4th quarter. Crossmark Global Holdings Inc. now owns 139,154 shares of the pipeline company’s stock valued at $5,012,000 after purchasing an additional 1,105 shares in the last quarter. Morningstar Investment Services LLC lifted its stake in shares of Enbridge by 129.6% in the 4th quarter. Morningstar Investment Services LLC now owns 3,631,712 shares of the pipeline company’s stock valued at $131,032,000 after purchasing an additional 2,049,712 shares during the last quarter. Finally, Angeles Investment Advisors LLC bought a new stake in Enbridge in the fourth quarter worth $206,000. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Enbridge Price Performance

Shares of Enbridge stock opened at $41.14 on Wednesday. The company has a current ratio of 0.77, a quick ratio of 0.68 and a debt-to-equity ratio of 1.34. The firm has a fifty day simple moving average of $39.43 and a 200-day simple moving average of $37.06. The stock has a market capitalization of $87.79 billion, a price-to-earnings ratio of 20.88, a PEG ratio of 3.93 and a beta of 0.94. Enbridge Inc. has a 1-year low of $31.03 and a 1-year high of $41.22.

Enbridge (NYSE:ENB) (TSE:ENB) last released its earnings results on Friday, August 2nd. The pipeline company reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of $0.45 by $0.13. The firm had revenue of $8.29 billion during the quarter, compared to analyst estimates of $4.28 billion. Enbridge had a net margin of 13.31% and a return on equity of 10.07%. During the same quarter in the previous year, the business earned $0.51 EPS. On average, sell-side analysts expect that Enbridge Inc. will post 2.08 earnings per share for the current year.

Enbridge Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Thursday, August 15th were issued a dividend of $0.669 per share. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 6.50%. Enbridge’s dividend payout ratio (DPR) is presently 134.01%.

Wall Street Analysts Forecast Growth

Separately, Jefferies Financial Group lowered Enbridge from a “buy” rating to a “hold” rating in a report on Monday. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $51.50.

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.