Mesirow Financial Investment Management Inc. Sells 20,278 Shares of Enbridge Inc $ENB

Mesirow Financial Investment Management Inc. decreased its stake in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 10.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 172,259 shares of the pipeline company’s stock after selling 20,278 shares during the period. Mesirow Financial Investment Management Inc.’s holdings in Enbridge were worth $8,239,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Bank of Nova Scotia increased its holdings in Enbridge by 118.0% during the third quarter. Bank of Nova Scotia now owns 9,526,380 shares of the pipeline company’s stock valued at $480,518,000 after buying an additional 5,157,030 shares during the last quarter. Vanguard Group Inc. increased its holdings in Enbridge by 2.1% during the fourth 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 during the last quarter. Raymond James Financial Inc. increased its holdings in Enbridge by 43.7% during the third quarter. Raymond James Financial Inc. now owns 6,633,703 shares of the pipeline company’s stock valued at $334,737,000 after buying an additional 2,016,674 shares during the last quarter. ANTIPODES PARTNERS Ltd purchased a new stake in Enbridge during the third quarter valued at approximately $88,407,000. Finally, Kayne Anderson Capital Advisors LP increased its holdings in Enbridge by 48.7% during the third quarter. Kayne Anderson Capital Advisors LP now owns 4,607,157 shares of the pipeline company’s stock valued at $232,477,000 after buying an additional 1,508,300 shares during the last quarter. Institutional investors own 54.60% of the company’s stock.

Enbridge Stock Performance

NYSE:ENB opened at $55.24 on Thursday. The company has a current ratio of 0.81, a quick ratio of 0.55 and a debt-to-equity ratio of 1.69. Enbridge Inc has a 12-month low of $43.59 and a 12-month high of $55.49. The stock has a 50-day moving average price of $53.82 and a 200 day moving average price of $50.30. The stock has a market capitalization of $120.62 billion, a P/E ratio of 25.93 and a beta of 0.59.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings results on Friday, May 8th. The pipeline company reported $0.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.02. The company had revenue of $9.37 billion for the quarter, compared to the consensus estimate 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 firm posted $1.03 EPS. Equities research analysts forecast that Enbridge Inc will post 2.18 EPS for the current fiscal year.

Enbridge Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Friday, May 15th will be issued a $0.97 dividend. This represents a $3.88 dividend on an annualized basis and a yield of 7.0%. The ex-dividend date is Friday, May 15th. Enbridge’s payout ratio is currently 130.52%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on ENB. Royal Bank Of Canada upped their target price on shares of Enbridge from $76.00 to $79.00 and gave the company an “outperform” rating in a report on Monday. JPMorgan Chase & Co. cut shares of Enbridge from an “overweight” rating to a “neutral” rating in a report on Tuesday, January 27th. Citigroup reaffirmed a “buy” rating on shares of Enbridge in a report on Thursday, February 19th. Weiss Ratings raised shares of Enbridge from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, February 9th. Finally, Raymond James Financial raised shares of Enbridge to a “moderate buy” rating in a report on Tuesday, February 17th. Seven investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, Enbridge presently has an average rating of “Moderate Buy” and an average price target of $66.50.

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.