Partners Group Holding AG Trims Stock Position in Enbridge Inc $ENB

Partners Group Holding AG lessened its position in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 7.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 287,766 shares of the pipeline company’s stock after selling 21,526 shares during the period. Enbridge makes up about 0.8% of Partners Group Holding AG’s holdings, making the stock its 29th biggest position. Partners Group Holding AG’s holdings in Enbridge were worth $14,479,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Tsfg LLC increased its holdings in shares of Enbridge by 329.6% in the third quarter. Tsfg LLC now owns 494 shares of the pipeline company’s stock worth $25,000 after purchasing an additional 379 shares during the period. Highline Wealth Partners LLC increased its stake in Enbridge by 73.1% in the 3rd quarter. Highline Wealth Partners LLC now owns 559 shares of the pipeline company’s stock worth $28,000 after acquiring an additional 236 shares during the last quarter. True Wealth Design LLC raised its holdings in shares of Enbridge by 588.2% in the 3rd quarter. True Wealth Design LLC now owns 585 shares of the pipeline company’s stock valued at $30,000 after acquiring an additional 500 shares in the last quarter. Financial Gravity Companies Inc. bought a new stake in shares of Enbridge during the 2nd quarter valued at about $29,000. Finally, Twin Peaks Wealth Advisors LLC purchased a new position in shares of Enbridge during the second quarter worth about $31,000. 54.60% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

ENB has been the subject of several research analyst reports. Raymond James Financial upgraded shares of Enbridge to a “moderate buy” rating in a research report on Tuesday, February 17th. BMO Capital Markets reaffirmed a “market perform” rating on shares of Enbridge in a report on Tuesday, February 17th. Scotiabank reiterated an “outperform” rating on shares of Enbridge in a research report on Tuesday, February 17th. TD Securities lowered Enbridge from a “buy” rating to a “hold” rating in a research note on Tuesday, February 17th. Finally, Royal Bank Of Canada increased their price objective on Enbridge from $72.00 to $76.00 and gave the company an “outperform” rating in a research report on Tuesday, February 17th. Seven analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, Enbridge has a consensus rating of “Moderate Buy” and an average price target of $65.00.

Enbridge Stock Up 0.0%

Shares of NYSE:ENB opened at $52.42 on Thursday. The stock has a market capitalization of $114.37 billion, a P/E ratio of 22.79 and a beta of 0.69. The stock’s 50-day moving average price is $48.70 and its 200-day moving average price is $48.29. The company has a current ratio of 0.63, a quick ratio of 0.55 and a debt-to-equity ratio of 1.70. Enbridge Inc has a 12-month low of $39.73 and a 12-month high of $54.19.

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

Enbridge Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Sunday, March 1st. Stockholders of record on Tuesday, February 17th will be issued a $0.97 dividend. This is a positive change from Enbridge’s previous quarterly dividend of $0.94. This represents a $3.88 annualized dividend and a dividend yield of 7.4%. The ex-dividend date is Tuesday, February 17th. Enbridge’s dividend payout ratio (DPR) is 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.