First Trust Advisors LP trimmed its position in shares of Enbridge Inc (NYSE:ENB – Free Report) (TSE:ENB) by 4.4% during the first quarter, Holdings Channel reports. The firm owned 751,228 shares of the pipeline company’s stock after selling 34,356 shares during the quarter. First Trust Advisors LP’s holdings in Enbridge were worth $40,671,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of ENB. Third View Private Wealth LLC purchased a new position in shares of Enbridge during the 4th quarter worth approximately $3,691,000. Vanguard Group Inc. lifted its stake in Enbridge by 2.1% in the 4th quarter. Vanguard Group Inc. now owns 100,364,993 shares of the pipeline company’s stock valued at $4,802,766,000 after buying an additional 2,067,516 shares in the last quarter. RNC Capital Management LLC lifted its stake in Enbridge by 1.6% in the 4th quarter. RNC Capital Management LLC now owns 1,446,697 shares of the pipeline company’s stock valued at $69,196,000 after buying an additional 22,637 shares in the last quarter. Thomasville National Bank lifted its stake in Enbridge by 3.0% in the 4th quarter. Thomasville National Bank now owns 868,003 shares of the pipeline company’s stock valued at $41,517,000 after buying an additional 24,993 shares in the last quarter. Finally, Intact Investment Management Inc. grew its holdings in Enbridge by 22.8% during the 4th quarter. Intact Investment Management Inc. now owns 987,976 shares of the pipeline company’s stock valued at $47,275,000 after buying an additional 183,163 shares during the last quarter. Institutional investors and hedge funds own 54.60% of the company’s stock.
Analyst Upgrades and Downgrades
Several equities analysts have weighed in on ENB shares. TD Securities reissued a “hold” rating on shares of Enbridge in a research report on Thursday, July 16th. Royal Bank Of Canada upped their price objective on Enbridge from $76.00 to $79.00 and gave the company an “outperform” rating in a research report on Monday, May 11th. Wall Street Zen raised Enbridge from a “sell” rating to a “hold” rating in a research note on Sunday, July 12th. Scotiabank reiterated an “outperform” rating on shares of Enbridge in a research report on Tuesday, July 21st. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Enbridge in a research note on Friday, May 22nd. Six investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $66.50.
Enbridge Stock Down 2.6%
Shares of NYSE ENB opened at $55.36 on Tuesday. Enbridge Inc has a 1 year low of $44.58 and a 1 year high of $58.45. The firm’s 50 day moving average price is $55.71 and its 200 day moving average price is $53.36. The firm has a market cap of $120.91 billion, a P/E ratio of 25.99 and a beta of 0.58. The company has a debt-to-equity ratio of 1.69, a quick ratio of 0.73 and a current ratio of 0.81.
Enbridge (NYSE:ENB – Get Free Report) (TSE:ENB) last released its earnings results on Friday, May 8th. The pipeline company reported $0.71 EPS for the quarter, topping the consensus estimate of $0.69 by $0.02. The firm had revenue of $9.37 billion during the quarter, compared to analysts’ expectations of $8.49 billion. Enbridge had a net margin of 9.83% and a return on equity of 11.21%. During the same period in the previous year, the company earned $1.03 EPS. As a group, sell-side analysts anticipate that Enbridge Inc will post 2.13 earnings per share for the current year.
Enbridge Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Friday, May 15th were issued a dividend of $0.97 per share. The ex-dividend date was Friday, May 15th. This represents a $3.88 annualized dividend and a dividend yield of 7.0%. Enbridge’s dividend payout ratio (DPR) is 133.80%.
About Enbridge
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.
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