Capital Investment Advisory Services LLC Has $1.50 Million Stock Position in Enbridge Inc. (NYSE:ENB)

by · The Cerbat Gem

Capital Investment Advisory Services LLC raised its position in Enbridge Inc. (NYSE:ENB – Free Report) (TSE:ENB) by 46.6% in the 3rd quarter, HoldingsChannel reports. The fund owned 45,237 shares of the pipeline company’s stock after purchasing an additional 14,377 shares during the period. Capital Investment Advisory Services LLC’s holdings in Enbridge were worth $1,501,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in ENB. Eudaimonia Partners LLC raised its stake in shares of Enbridge by 2.4% in the 2nd quarter. Eudaimonia Partners LLC now owns 11,900 shares of the pipeline company’s stock valued at $442,000 after purchasing an additional 278 shares during the period. SVB Wealth LLC raised its stake in shares of Enbridge by 3.1% in the 1st quarter. SVB Wealth LLC now owns 9,781 shares of the pipeline company’s stock valued at $373,000 after purchasing an additional 297 shares during the period. Key Financial Inc raised its stake in shares of Enbridge by 18.7% in the 2nd quarter. Key Financial Inc now owns 1,973 shares of the pipeline company’s stock valued at $73,000 after purchasing an additional 311 shares during the period. Keudell Morrison Wealth Management raised its stake in shares of Enbridge by 1.7% in the 2nd quarter. Keudell Morrison Wealth Management now owns 18,913 shares of the pipeline company’s stock valued at $703,000 after purchasing an additional 321 shares during the period. Finally, Valeo Financial Advisors LLC raised its stake in shares of Enbridge by 5.4% in the 2nd quarter. Valeo Financial Advisors LLC now owns 6,581 shares of the pipeline company’s stock valued at $244,000 after purchasing an additional 337 shares during the period. Institutional investors and hedge funds own 48.29% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on ENB. Royal Bank of Canada dropped their price target on Enbridge from $60.00 to $55.00 and set an “outperform” rating on the stock in a research note on Monday, November 6th. Wolfe Research downgraded Enbridge from a “peer perform” rating to an “underperform” rating in a research note on Tuesday, October 17th. Wells Fargo & Company downgraded Enbridge from an “equal weight” rating to an “underweight” rating in a research report on Wednesday, October 25th. Stifel Nicolaus assumed coverage on Enbridge in a research report on Thursday. They issued a “hold” rating on the stock. Finally, Barclays lowered their target price on Enbridge from $54.00 to $48.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 18th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, Enbridge presently has a consensus rating of “Hold” and a consensus price target of $55.33.

Check Out Our Latest Research Report on Enbridge

Enbridge Trading Up 0.5 %

Enbridge stock opened at $35.98 on Friday. Enbridge Inc. has a 52 week low of $31.03 and a 52 week high of $42.06. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.57 and a current ratio of 0.67. The stock has a market capitalization of $76.48 billion, a P/E ratio of 32.41, a PEG ratio of 2.80 and a beta of 0.89. The stock has a 50-day simple moving average of $35.35 and a 200 day simple moving average of $34.82.

Enbridge (NYSE:ENB – Get Free Report) (TSE:ENB) last posted its quarterly earnings results on Friday, November 3rd. The pipeline company reported $0.46 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.03. Enbridge had a return on equity of 10.02% and a net margin of 7.26%. The business had revenue of $7.34 billion during the quarter, compared to analysts’ expectations of $7.88 billion. Analysts expect that Enbridge Inc. will post 2.09 earnings per share for the current year.

Enbridge Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 1st. Investors of record on Thursday, February 15th will be issued a dividend of $0.659 per share. The ex-dividend date of this dividend is Wednesday, February 14th. This represents a $2.64 dividend on an annualized basis and a yield of 7.33%. This is a boost from Enbridge’s previous quarterly dividend of $0.64. Enbridge’s dividend payout ratio (DPR) is presently 234.23%.

Enbridge Company 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.

Further Reading

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