HighTower Advisors LLC Sells 29,531 Shares of Enbridge Inc $ENB

HighTower Advisors LLC lessened its holdings in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 4.6% during the 3rd quarter, HoldingsChannel reports. The firm owned 607,189 shares of the pipeline company’s stock after selling 29,531 shares during the period. HighTower Advisors LLC’s holdings in Enbridge were worth $30,639,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the company. Brighton Jones LLC acquired a new position in Enbridge during the fourth quarter valued at approximately $261,000. AQR Capital Management LLC raised its holdings in Enbridge by 68.5% in the 1st quarter. AQR Capital Management LLC now owns 28,533 shares of the pipeline company’s stock valued at $1,264,000 after acquiring an additional 11,599 shares during the period. DekaBank Deutsche Girozentrale lifted its holdings in Enbridge by 1.2% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 434,873 shares of the pipeline company’s stock worth $19,595,000 after purchasing an additional 5,044 shares during the last quarter. Legacy Wealth Asset Management LLC acquired a new position in shares of Enbridge in the second quarter valued at about $643,000. Finally, FNY Investment Advisers LLC bought a new stake in shares of Enbridge in the second quarter valued at approximately $36,000. 54.60% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

ENB has been the subject of a number of recent research reports. Zacks Research raised Enbridge from a “strong sell” rating to a “hold” rating in a report on Monday, December 29th. BMO Capital Markets reaffirmed a “market perform” rating on shares of Enbridge in a research note on Tuesday. Weiss Ratings upgraded shares of Enbridge from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, February 9th. Raymond James Financial upgraded Enbridge to a “moderate buy” rating in a report on Tuesday. Finally, Royal Bank Of Canada boosted their target price on shares of Enbridge from $72.00 to $76.00 and gave the company an “outperform” rating in a research report on Tuesday. Seven 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 company currently has an average rating of “Moderate Buy” and an average price target of $65.00.

Enbridge Trading Down 1.1%

Shares of ENB stock opened at $50.88 on Thursday. The stock has a fifty day simple moving average of $48.22 and a two-hundred day simple moving average of $48.11. The firm has a market capitalization of $111.00 billion, a PE ratio of 22.12 and a beta of 0.69. Enbridge Inc has a 52-week low of $39.73 and a 52-week high of $54.19. The company has a debt-to-equity ratio of 1.70, a quick ratio of 0.68 and a current ratio of 0.63.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its earnings results on Friday, February 13th. The pipeline company reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.03. The firm had revenue of $17.18 billion for the quarter, compared to analysts’ expectations of $9.10 billion. Enbridge had a net margin of 11.30% and a return on equity of 11.19%. During the same period in the prior year, the company earned $0.75 EPS. On average, analysts predict that Enbridge Inc will post 2.14 EPS for the current fiscal year.

Enbridge Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, March 1st. Investors of record on Tuesday, February 17th will be issued a $0.97 dividend. The ex-dividend date is Tuesday, February 17th. This is an increase from Enbridge’s previous quarterly dividend of $0.94. This represents a $3.88 annualized dividend and a dividend yield of 7.6%. Enbridge’s dividend payout ratio is presently 120.87%.

Enbridge Company 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.