Sowell Financial Services LLC Sells 1,588 Shares of Enbridge Inc $ENB

Sowell Financial Services LLC reduced its stake in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 12.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,600 shares of the pipeline company’s stock after selling 1,588 shares during the quarter. Sowell Financial Services LLC’s holdings in Enbridge were worth $526,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Dagco Inc. bought a new position in Enbridge during the 1st quarter worth approximately $25,000. Garde Capital Inc. bought a new position in shares of Enbridge in the first quarter worth approximately $26,000. Financial Gravity Asset Management Inc. purchased a new position in shares of Enbridge in the first quarter worth $28,000. Accent Capital Management LLC purchased a new position in shares of Enbridge in the first quarter worth $30,000. Finally, Wolff Wiese Magana LLC raised its holdings in Enbridge by 91.3% during the 1st quarter. Wolff Wiese Magana LLC now owns 765 shares of the pipeline company’s stock valued at $34,000 after buying an additional 365 shares during the last quarter. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Enbridge Stock Performance

Shares of ENB stock opened at $49.96 on Thursday. The company’s fifty day moving average price is $47.40 and its 200-day moving average price is $45.75. The stock has a market cap of $108.94 billion, a PE ratio of 24.61, a price-to-earnings-growth ratio of 4.54 and a beta of 0.80. The company has a current ratio of 0.75, a quick ratio of 0.65 and a debt-to-equity ratio of 1.58. Enbridge Inc has a 12 month low of $39.73 and a 12 month high of $50.15.

Enbridge (NYSE:ENB) (TSE:ENB) last released its earnings results on Friday, August 1st. The pipeline company reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.06. The firm had revenue of $7.14 billion during the quarter, compared to analyst estimates of $10.56 billion. Enbridge had a net margin of 10.11% and a return on equity of 10.77%. During the same period last year, the business earned $0.58 earnings per share. On average, equities analysts expect that Enbridge Inc will post 2.14 EPS for the current fiscal year.

Enbridge Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 1st. Stockholders of record on Friday, August 15th were issued a dividend of $0.6839 per share. The ex-dividend date was Friday, August 15th. This is a boost from Enbridge’s previous quarterly dividend of $0.68. This represents a $2.74 annualized dividend and a dividend yield of 5.5%. Enbridge’s dividend payout ratio is 134.98%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Argus raised their price target on shares of Enbridge from $50.00 to $54.00 and gave the stock a “buy” rating in a report on Tuesday, August 12th. Wall Street Zen cut Enbridge from a “hold” rating to a “sell” rating in a research note on Sunday. National Bankshares restated a “sector perform” rating on shares of Enbridge in a report on Tuesday, August 5th. Jefferies Financial Group raised Enbridge from a “hold” rating to a “buy” rating in a research note on Wednesday, July 23rd. Finally, Zacks Research lowered Enbridge from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 17th. Six analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $60.50.

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.