Laurel Wealth Advisors Inc. Boosts Stock Holdings in Enbridge Inc (NYSE:ENB)

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Laurel Wealth Advisors Inc. grew its position in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 3.6% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 45,599 shares of the pipeline company’s stock after purchasing an additional 1,600 shares during the quarter. Laurel Wealth Advisors Inc.’s holdings in Enbridge were worth $1,645,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. TD Asset Management Inc. increased its holdings in Enbridge by 3.7% in the 1st quarter. TD Asset Management Inc. now owns 46,596,794 shares of the pipeline company’s stock worth $1,688,151,000 after acquiring an additional 1,648,741 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in Enbridge by 10.3% in the 1st quarter. The Manufacturers Life Insurance Company now owns 14,089,169 shares of the pipeline company’s stock worth $510,874,000 after acquiring an additional 1,320,420 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its holdings in Enbridge by 5.1% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 13,372,445 shares of the pipeline company’s stock worth $484,469,000 after acquiring an additional 652,618 shares in the last quarter. Great West Life Assurance Co. Can increased its holdings in Enbridge by 6.8% in the 2nd quarter. Great West Life Assurance Co. Can now owns 13,006,953 shares of the pipeline company’s stock worth $468,753,000 after acquiring an additional 833,190 shares in the last quarter. Finally, Bank of Nova Scotia increased its holdings in Enbridge by 0.8% in the 2nd quarter. Bank of Nova Scotia now owns 12,535,497 shares of the pipeline company’s stock worth $448,587,000 after acquiring an additional 103,842 shares in the last quarter. 53.86% of the stock is owned by hedge funds and other institutional investors.

ENB traded up $0.18 on Friday, hitting $34.88. 50,491 shares of the company’s stock were exchanged, compared to its average volume of 3,363,924. Enbridge Inc has a fifty-two week low of $28.82 and a fifty-two week high of $38.04. The company has a current ratio of 0.63, a quick ratio of 0.53 and a debt-to-equity ratio of 0.92. The firm has a 50-day moving average price of $33.61 and a 200-day moving average price of $35.75. The stock has a market cap of $70.32 billion, a price-to-earnings ratio of 17.04, a P/E/G ratio of 2.72 and a beta of 0.57.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its earnings results on Friday, August 2nd. The pipeline company reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.08. Enbridge had a net margin of 9.97% and a return on equity of 8.16%. The company had revenue of $9.92 billion for the quarter. On average, equities analysts predict that Enbridge Inc will post 1.9 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Thursday, August 15th were given a dividend of $0.559 per share. This is a boost from Enbridge’s previous quarterly dividend of $0.52. The ex-dividend date was Wednesday, August 14th. This represents a $2.24 annualized dividend and a dividend yield of 6.41%. Enbridge’s payout ratio is presently 107.80%.

Several equities research analysts recently commented on the stock. ValuEngine lowered shares of Enbridge from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. Goldman Sachs Group began coverage on shares of Enbridge in a research note on Thursday, July 18th. They set a “neutral” rating on the stock. Bank of America cut shares of Enbridge from a “buy” rating to a “neutral” rating and set a $49.00 target price on the stock. in a research note on Tuesday, July 2nd. Finally, Wolfe Research cut shares of Enbridge from an “outperform” rating to a “peer perform” rating and set a $37.00 target price on the stock. in a research note on Thursday, June 13th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the company’s stock. Enbridge currently has an average rating of “Hold” and a consensus price target of $43.75.

About Enbridge

Enbridge Inc operates as an energy infrastructure company in Canada and the United States. The company operates through five segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution, Green Power and Transmission, and Energy Services. The Liquids Pipelines segment operates common carrier and contract crude oil, natural gas liquids (NGL), and refined products pipelines and terminals.

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Institutional Ownership by Quarter for Enbridge (NYSE:ENB)

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