Rockefeller Capital Management L.P. Sells 3,702 Shares of Enbridge Inc $ENB

Rockefeller Capital Management L.P. lowered its holdings in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 1.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 297,541 shares of the pipeline company’s stock after selling 3,702 shares during the period. Rockefeller Capital Management L.P.’s holdings in Enbridge were worth $13,485,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of Enbridge by 1.7% during the first quarter. Vanguard Group Inc. now owns 93,187,025 shares of the pipeline company’s stock worth $4,124,271,000 after acquiring an additional 1,569,879 shares in the last quarter. GQG Partners LLC grew its position in shares of Enbridge by 1.5% in the first quarter. GQG Partners LLC now owns 75,439,320 shares of the pipeline company’s stock valued at $3,338,405,000 after purchasing an additional 1,148,580 shares in the last quarter. TD Asset Management Inc grew its position in shares of Enbridge by 1.6% in the second quarter. TD Asset Management Inc now owns 39,883,394 shares of the pipeline company’s stock valued at $1,804,913,000 after purchasing an additional 617,577 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Enbridge by 137.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 32,907,433 shares of the pipeline company’s stock valued at $1,458,128,000 after purchasing an additional 19,074,827 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in Enbridge by 20.2% during the 2nd quarter. Geode Capital Management LLC now owns 17,785,430 shares of the pipeline company’s stock worth $818,620,000 after purchasing an additional 2,989,992 shares in the last quarter. 54.60% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on ENB shares. BMO Capital Markets reaffirmed a “market perform” rating on shares of Enbridge in a report on Monday, November 10th. Jefferies Financial Group raised shares of Enbridge from a “hold” rating to a “buy” rating in a research note on Wednesday, July 23rd. Royal Bank Of Canada upped their target price on shares of Enbridge from $67.00 to $72.00 and gave the stock an “outperform” rating in a report on Monday, November 10th. Wall Street Zen downgraded shares of Enbridge from a “hold” rating to a “sell” rating in a report on Sunday, September 21st. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Enbridge in a research report on Monday. Six equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Enbridge currently has an average rating of “Hold” and a consensus price target of $63.00.

Enbridge Stock Up 1.1%

Shares of NYSE ENB opened at $48.29 on Wednesday. The stock has a market capitalization of $105.33 billion, a P/E ratio of 23.79, a PEG ratio of 4.31 and a beta of 0.76. Enbridge Inc has a one year low of $39.73 and a one year high of $50.54. The firm’s 50 day simple moving average is $48.26 and its two-hundred day simple moving average is $46.85. 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 (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings data on Friday, November 7th. The pipeline company reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.06). Enbridge had a return on equity of 10.77% and a net margin of 10.11%.The business had revenue of $7 billion during the quarter, compared to the consensus estimate of $8.45 billion. During the same quarter in the previous year, the firm posted $0.55 earnings per share. As a group, analysts expect that Enbridge Inc will post 2.14 EPS for the current fiscal year.

Enbridge Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Friday, November 14th will be paid a $0.9425 dividend. This is a boost from Enbridge’s previous quarterly dividend of $0.68. This represents a $3.77 annualized dividend and a yield of 7.8%. The ex-dividend date of this dividend is Friday, November 14th. Enbridge’s payout ratio is presently 147.80%.

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.