Enbridge Inc $ENB Shares Sold by Catalyst Capital Advisors LLC

Catalyst Capital Advisors LLC lowered its position in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 2.5% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 397,238 shares of the pipeline company’s stock after selling 10,028 shares during the quarter. Catalyst Capital Advisors LLC’s holdings in Enbridge were worth $18,003,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in shares of Enbridge by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 93,187,025 shares of the pipeline company’s stock valued at $4,124,271,000 after purchasing an additional 1,569,879 shares in the last quarter. GQG Partners LLC boosted its holdings in Enbridge by 1.5% during the first quarter. GQG Partners LLC now owns 75,439,320 shares of the pipeline company’s stock worth $3,338,405,000 after buying an additional 1,148,580 shares in the last quarter. TD Asset Management Inc grew its position in Enbridge by 1.6% in the second quarter. TD Asset Management Inc now owns 39,883,394 shares of the pipeline company’s stock worth $1,804,913,000 after buying an additional 617,577 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Enbridge by 137.9% in the first quarter. Goldman Sachs Group Inc. now owns 32,907,433 shares of the pipeline company’s stock valued at $1,458,128,000 after buying an additional 19,074,827 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its position in shares of Enbridge by 10.5% during the 1st quarter. JPMorgan Chase & Co. now owns 17,643,681 shares of the pipeline company’s stock valued at $781,792,000 after acquiring an additional 1,680,116 shares during the last quarter. 54.60% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

ENB has been the subject of a number of recent analyst reports. Zacks Research lowered Enbridge from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 17th. Argus upped their price target on shares of Enbridge from $50.00 to $54.00 and gave the company a “buy” rating in a research report on Tuesday, August 12th. Scotiabank reiterated a “sector perform” rating on shares of Enbridge in a research note on Monday. Jefferies Financial Group raised shares of Enbridge from a “hold” rating to a “buy” rating in a research note on Wednesday, July 23rd. Finally, Wall Street Zen cut Enbridge from a “hold” rating to a “sell” rating in a research report on Sunday, September 21st. Six research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $60.50.

Enbridge Price Performance

NYSE:ENB opened at $47.20 on Friday. The company has a debt-to-equity ratio of 1.58, a current ratio of 0.75 and a quick ratio of 0.65. Enbridge Inc has a one year low of $39.73 and a one year high of $50.54. The company has a fifty day moving average price of $48.44 and a 200 day moving average price of $46.45. The stock has a market cap of $102.94 billion, a P/E ratio of 23.25, a PEG ratio of 4.39 and a beta of 0.78.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings data on Friday, August 1st. The pipeline company reported $0.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.06. Enbridge had a net margin of 10.11% and a return on equity of 10.77%. The company had revenue of $7.14 billion for the quarter, compared to the consensus estimate of $10.56 billion. During the same quarter in the previous year, the firm posted $0.58 EPS. Analysts anticipate that Enbridge Inc will post 2.14 earnings per share for the current year.

Enbridge Increases Dividend

The company also recently disclosed 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. This represents a $2.74 annualized dividend and a dividend yield of 5.8%. The ex-dividend date of this dividend was Friday, August 15th. This is a boost from Enbridge’s previous quarterly dividend of $0.68. Enbridge’s payout ratio is 134.98%.

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.