Enbridge Inc. (NYSE:ENB) Stock Position Cut by Founders Financial Alliance LLC

Founders Financial Alliance LLC trimmed its stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 7.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. 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 filing with the Securities and Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. TruNorth Capital Management LLC acquired a new position in Enbridge during the second quarter worth about $28,000. William B. Walkup & Associates Inc. bought a new position in shares of Enbridge during the 2nd quarter valued at about $28,000. Ameritas Investment Partners Inc. acquired a new position in shares of Enbridge in the 1st quarter worth approximately $29,000. Richardson Financial Services Inc. bought a new stake in shares of Enbridge in the 1st quarter worth approximately $31,000. Finally, PFS Partners LLC lifted its stake in Enbridge by 95.8% during the first quarter. PFS Partners LLC now owns 922 shares of the pipeline company’s stock valued at $33,000 after purchasing an additional 451 shares during the last quarter. 54.60% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Enbridge Price Performance

NYSE ENB opened at $41.14 on Wednesday. Enbridge Inc. has a 1 year low of $31.03 and a 1 year high of $41.22. The stock’s 50-day moving average price is $39.43 and its two-hundred day moving average price is $37.06. The company has a market cap of $87.79 billion, a PE ratio of 20.88, a PEG ratio of 3.93 and a beta of 0.94. The company has a current ratio of 0.77, a quick ratio of 0.68 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 EPS for the quarter, beating the consensus estimate of $0.45 by $0.13. Enbridge had a net margin of 13.31% and a return on equity of 10.07%. The business had revenue of $8.29 billion during the quarter, compared to the consensus estimate of $4.28 billion. During the same quarter in the prior year, the firm earned $0.51 EPS. On average, analysts predict that Enbridge Inc. will post 2.08 EPS 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 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 is 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.