Enbridge Inc $ENB Shares Sold by Border to Coast Pensions Partnership Ltd

Border to Coast Pensions Partnership Ltd lessened its holdings in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 19.3% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 900,000 shares of the pipeline company’s stock after selling 215,000 shares during the period. Border to Coast Pensions Partnership Ltd’s holdings in Enbridge were worth $48,781,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of ENB. Triumph Capital Management purchased a new position in Enbridge in the third quarter valued at $26,000. Turning Point Benefit Group Inc. purchased a new stake in Enbridge during the 3rd quarter worth about $28,000. Inspire Investing LLC acquired a new stake in Enbridge in the 4th quarter valued at about $29,000. Garner Asset Management Corp purchased a new position in shares of Enbridge in the 4th quarter valued at about $30,000. Finally, Imprint Wealth LLC acquired a new position in shares of Enbridge during the third quarter worth about $31,000. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Enbridge Trading Up 0.1%

ENB opened at $56.24 on Friday. 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 Inc has a one year low of $43.59 and a one year high of $58.45. The company has a market cap of $122.84 billion, a P/E ratio of 26.41 and a beta of 0.58. The business’s 50-day simple moving average is $55.12 and its 200-day simple moving average is $52.15.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its earnings results on Friday, May 8th. The pipeline company reported $0.71 earnings per share 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 return on equity of 11.21% and a net margin of 9.83%.During the same quarter in the previous year, the business earned $1.03 earnings per share. As a group, equities research analysts expect that Enbridge Inc will post 2.18 EPS for the current fiscal year.

Enbridge Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Friday, May 15th were issued a dividend of $0.97 per share. The ex-dividend date of this dividend was Friday, May 15th. This represents a $3.88 dividend on an annualized basis and a yield of 6.9%. Enbridge’s dividend payout ratio (DPR) is presently 133.80%.

Analyst Ratings Changes

Several analysts recently weighed in on ENB shares. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Enbridge in a report on Friday, May 22nd. Wall Street Zen downgraded shares of Enbridge from a “hold” rating to a “sell” rating in a research note on Saturday. Scotiabank reiterated an “outperform” rating on shares of Enbridge in a report on Monday, May 11th. Canadian Imperial Bank of Commerce reissued a “neutral” rating on shares of Enbridge in a research report on Monday, May 11th. Finally, Royal Bank Of Canada raised their price objective on shares of Enbridge from $76.00 to $79.00 and gave the company an “outperform” rating in a report on Monday, May 11th. Seven equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock 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.