EP Wealth Advisors LLC Acquires 15,214 Shares of Enbridge Inc. (NYSE:ENB)

EP Wealth Advisors LLC lifted its holdings in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 118.5% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 28,051 shares of the pipeline company’s stock after acquiring an additional 15,214 shares during the quarter. EP Wealth Advisors LLC’s holdings in Enbridge were worth $998,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in ENB. Crossmark Global Holdings Inc. increased its holdings in shares of Enbridge by 0.8% in the fourth 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 during the last quarter. Morningstar Investment Services LLC raised its holdings in 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 acquiring an additional 2,049,712 shares during the period. Angeles Investment Advisors LLC acquired a new stake in Enbridge during the fourth quarter worth approximately $206,000. Beacon Investment Advisors LLC boosted its holdings in shares of Enbridge by 1.2% during the fourth quarter. Beacon Investment Advisors LLC now owns 33,665 shares of the pipeline company’s stock worth $1,213,000 after acquiring an additional 399 shares during the period. Finally, White Knight Strategic Wealth Advisors LLC grew its position in shares of Enbridge by 38.7% in the fourth quarter. White Knight Strategic Wealth Advisors LLC now owns 18,760 shares of the pipeline company’s stock valued at $676,000 after purchasing an additional 5,230 shares during the last quarter. 54.60% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Jefferies Financial Group cut 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 given a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $51.50.

Enbridge Stock Performance

NYSE ENB opened at $41.05 on Thursday. The firm has a 50-day moving average price of $39.52 and a two-hundred day moving average price of $37.09. Enbridge Inc. has a 12-month low of $31.03 and a 12-month high of $41.35. The company has a market capitalization of $87.60 billion, a P/E ratio of 20.84, a P/E/G ratio of 3.93 and a beta of 0.94. The company has a quick ratio of 0.68, a current ratio of 0.77 and a debt-to-equity ratio of 1.34.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings results on Friday, August 2nd. The pipeline company reported $0.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.45 by $0.13. The business had revenue of $8.29 billion for the quarter, compared to the consensus estimate of $4.28 billion. Enbridge had a return on equity of 10.07% and a net margin of 13.31%. During the same quarter in the prior year, the business posted $0.51 earnings per share. Analysts anticipate that Enbridge Inc. will post 2.08 earnings per share for the current year.

Enbridge Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Thursday, August 15th were paid a $0.669 dividend. This represents a $2.68 dividend on an annualized basis and a yield of 6.52%. The ex-dividend date was Thursday, August 15th. Enbridge’s dividend payout ratio (DPR) is presently 134.01%.

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.