EP Wealth Advisors LLC Has $998,000 Holdings in Enbridge Inc. (NYSE:ENB)

EP Wealth Advisors LLC increased its stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 118.5% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 28,051 shares of the pipeline company’s stock after acquiring an additional 15,214 shares during the period. EP Wealth Advisors LLC’s holdings in Enbridge were worth $998,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in ENB. Kimelman & Baird LLC acquired a new stake in shares of Enbridge in the 2nd quarter valued at about $101,000. William B. Walkup & Associates Inc. bought a new position in shares of Enbridge during the second quarter worth about $28,000. Northwestern Mutual Wealth Management Co. raised its position in Enbridge by 2.2% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 112,302 shares of the pipeline company’s stock valued at $3,997,000 after buying an additional 2,415 shares during the last quarter. NewEdge Advisors LLC lifted its stake in Enbridge by 4.1% in the 2nd quarter. NewEdge Advisors LLC now owns 303,033 shares of the pipeline company’s stock valued at $10,785,000 after acquiring an additional 11,931 shares in the last quarter. Finally, Doheny Asset Management CA boosted its position in Enbridge by 4.5% during the 2nd quarter. Doheny Asset Management CA now owns 62,722 shares of the pipeline company’s stock worth $2,232,000 after acquiring an additional 2,673 shares during the last quarter. 54.60% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Enbridge Price Performance

NYSE:ENB opened at $41.05 on Thursday. Enbridge Inc. has a 52-week low of $31.03 and a 52-week high of $41.35. The company has a market cap of $87.60 billion, a P/E ratio of 20.84, a P/E/G ratio of 3.93 and a beta of 0.94. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.68 and a current ratio of 0.77. The stock’s 50-day simple moving average is $39.52 and its 200 day simple moving average is $37.09.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings results on Friday, August 2nd. The pipeline company reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.13. The firm had revenue of $8.29 billion for the quarter, compared to analyst estimates of $4.28 billion. Enbridge had a return on equity of 10.07% and a net margin of 13.31%. During the same quarter in the previous year, the firm earned $0.51 EPS. As a group, sell-side analysts forecast that Enbridge Inc. will post 2.08 EPS for the current fiscal year.

Enbridge Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Thursday, August 15th were paid a $0.669 dividend. This represents a $2.68 dividend on an annualized basis and a yield of 6.52%. The ex-dividend date of this dividend was Thursday, August 15th. Enbridge’s dividend payout ratio is currently 134.01%.

Enbridge 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.