Demars Financial Group LLC Sells 541,357 Shares of Enbridge Inc. (NYSE:ENB)

Demars Financial Group LLC cut its holdings in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 60.3% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 356,182 shares of the pipeline company’s stock after selling 541,357 shares during the period. Demars Financial Group LLC’s holdings in Enbridge were worth $15,782,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Wintrust Investments LLC boosted its stake in shares of Enbridge by 47.8% during the fourth quarter. Wintrust Investments LLC now owns 736 shares of the pipeline company’s stock valued at $31,000 after purchasing an additional 238 shares in the last quarter. GeoWealth Management LLC boosted its stake in shares of Enbridge by 436.4% during the fourth quarter. GeoWealth Management LLC now owns 751 shares of the pipeline company’s stock valued at $32,000 after purchasing an additional 611 shares in the last quarter. Capital A Wealth Management LLC bought a new position in shares of Enbridge during the fourth quarter valued at approximately $39,000. Hopwood Financial Services Inc. bought a new position in shares of Enbridge during the fourth quarter valued at approximately $42,000. Finally, SJS Investment Consulting Inc. boosted its stake in shares of Enbridge by 731.7% during the first quarter. SJS Investment Consulting Inc. now owns 1,023 shares of the pipeline company’s stock valued at $45,000 after purchasing an additional 900 shares in the last quarter. 54.60% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms recently commented on ENB. Royal Bank of Canada reissued an “outperform” rating and set a $67.00 target price on shares of Enbridge in a research report on Monday, May 12th. CIBC reissued an “outperform” rating on shares of Enbridge in a research report on Wednesday, March 5th. Raymond James raised shares of Enbridge to a “moderate buy” rating in a research report on Wednesday, April 23rd. Wall Street Zen raised shares of Enbridge from a “sell” rating to a “hold” rating in a research report on Thursday, May 22nd. Finally, BMO Capital Markets reissued a “market perform” rating on shares of Enbridge in a research report on Monday, May 12th. Six equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, Enbridge has a consensus rating of “Hold” and a consensus target price of $67.00.

Enbridge Trading Down 1.5%

NYSE ENB opened at $45.95 on Tuesday. The company has a fifty day simple moving average of $45.55 and a two-hundred day simple moving average of $44.01. The stock has a market cap of $100.20 billion, a P/E ratio of 26.72, a P/E/G ratio of 3.92 and a beta of 0.81. Enbridge Inc. has a 12-month low of $34.60 and a 12-month high of $47.44. The company has a current ratio of 0.55, a quick ratio of 0.54 and a debt-to-equity ratio of 1.50.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings results on Friday, May 9th. The pipeline company reported $0.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.04. The business had revenue of $7.27 billion during the quarter, compared to analysts’ expectations of $10.20 billion. Enbridge had a net margin of 10.04% and a return on equity of 10.16%. During the same quarter last year, the company posted $0.92 earnings per share. On average, analysts forecast that Enbridge Inc. will post 2.14 earnings per share for the current year.

Enbridge Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Sunday, June 1st. Shareholders of record on Thursday, May 15th were issued a $0.679 dividend. The ex-dividend date was Thursday, May 15th. This represents a $2.72 dividend on an annualized basis and a dividend yield of 5.91%. This is a boost from Enbridge’s previous quarterly dividend of $0.67. Enbridge’s dividend payout ratio (DPR) is currently 139.69%.

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.