Triasima Portfolio Management inc. Has $9.80 Million Stake in Enbridge Inc $ENB

Triasima Portfolio Management inc. cut its position in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 26.0% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 194,272 shares of the pipeline company’s stock after selling 68,119 shares during the quarter. Enbridge makes up approximately 1.5% of Triasima Portfolio Management inc.’s investment portfolio, making the stock its 16th largest holding. Triasima Portfolio Management inc.’s holdings in Enbridge were worth $9,803,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. Norges Bank bought a new position in shares of Enbridge during the 2nd quarter worth about $1,113,368,000. Canada Pension Plan Investment Board raised its position in Enbridge by 38.7% in the 2nd quarter. Canada Pension Plan Investment Board now owns 13,213,321 shares of the pipeline company’s stock worth $599,556,000 after purchasing an additional 3,687,334 shares during the last quarter. Vanguard Group Inc. lifted its position in Enbridge by 3.5% during the 2nd quarter. Vanguard Group Inc. now owns 96,404,986 shares of the pipeline company’s stock valued at $4,371,580,000 after purchasing an additional 3,217,961 shares during the period. Geode Capital Management LLC lifted its stake in shares of Enbridge by 20.2% in the 2nd quarter. Geode Capital Management LLC now owns 17,785,430 shares of the pipeline company’s stock valued at $818,620,000 after purchasing an additional 2,989,992 shares during the period. Finally, Picton Mahoney Asset Management acquired a new position in shares of Enbridge during the 2nd quarter worth about $132,105,000. 54.60% of the stock is currently owned by institutional investors and hedge funds.

Enbridge Trading Down 0.1%

Shares of NYSE:ENB opened at $47.56 on Tuesday. The company’s 50-day moving average price is $47.46 and its two-hundred day moving average price is $47.38. The company has a debt-to-equity ratio of 1.64, a current ratio of 0.80 and a quick ratio of 0.68. Enbridge Inc has a one year low of $39.73 and a one year high of $50.54. The stock has a market capitalization of $103.76 billion, a PE ratio of 26.12 and a beta of 0.68.

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 the consensus estimate of $0.39 by ($0.06). The company had revenue of $7 billion during the quarter, compared to the consensus estimate of $8.45 billion. Enbridge had a net margin of 9.20% and a return on equity of 10.51%. During the same quarter in the previous year, the business earned $0.55 EPS. On average, equities analysts forecast that Enbridge Inc will post 2.14 EPS for the current fiscal year.

Enbridge Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Sunday, March 1st. Shareholders of record on Tuesday, February 17th will be given a dividend of $0.97 per share. This is a positive change from Enbridge’s previous quarterly dividend of $0.94. The ex-dividend date of this dividend is Tuesday, February 17th. This represents a $3.88 annualized dividend and a dividend yield of 8.2%. Enbridge’s payout ratio is presently 147.80%.

Wall Street Analyst Weigh In

A number of research firms recently commented on ENB. Zacks Research upgraded shares of Enbridge from a “strong sell” rating to a “hold” rating in a research report on Monday, December 29th. Royal Bank Of Canada lifted their price objective on Enbridge from $67.00 to $72.00 and gave the company an “outperform” rating in a report on Monday, November 10th. National Bankshares restated a “sector perform” rating on shares of Enbridge in a report on Monday, November 10th. Weiss Ratings upgraded shares of Enbridge from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, January 12th. Finally, BMO Capital Markets reaffirmed a “market perform” rating on shares of Enbridge in a research report on Monday, November 10th. Six analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, Enbridge presently has a consensus rating of “Moderate Buy” and a consensus target price of $63.00.

Enbridge Profile

Enbridge Inc is a Calgary, Alberta–based energy infrastructure company that develops, owns and operates a diversified portfolio of energy transportation, distribution and generation assets. Its core activities include the operation of crude oil and liquids pipelines, natural gas transmission and distribution systems, and energy storage facilities. In addition to midstream transportation and storage, Enbridge has expanded into renewable power generation and energy transition projects, including wind, solar and utility-scale generation assets.

The company serves customers primarily in Canada and the United States and has interests in other international energy projects.