Cetera Investment Advisers Reduces Stock Holdings in Enbridge Inc $ENB

Cetera Investment Advisers reduced its position in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 2.0% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,446,479 shares of the pipeline company’s stock after selling 29,942 shares during the quarter. Cetera Investment Advisers’ holdings in Enbridge were worth $78,232,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Norges Bank purchased a new position in shares of Enbridge in the fourth quarter worth approximately $1,195,559,000. Auto Owners Insurance Co increased its holdings in Enbridge by 4,683.0% during the fourth quarter. Auto Owners Insurance Co now owns 8,566,831 shares of the pipeline company’s stock valued at $40,975,000 after buying an additional 8,387,721 shares during the last quarter. Alberta Investment Management Corp bought a new position in Enbridge in the fourth quarter worth approximately $132,705,000. Vanguard Group Inc. raised its position in Enbridge by 2.1% in the fourth quarter. Vanguard Group Inc. now owns 100,364,993 shares of the pipeline company’s stock worth $4,802,766,000 after acquiring an additional 2,067,516 shares during the period. Finally, Raymond James Financial Inc. boosted its stake in shares of Enbridge by 43.7% during the 3rd quarter. Raymond James Financial Inc. now owns 6,633,703 shares of the pipeline company’s stock worth $334,737,000 after acquiring an additional 2,016,674 shares during the last quarter. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Scotiabank restated an “outperform” rating on shares of Enbridge in a research note on Tuesday. Canadian Imperial Bank of Commerce reiterated a “neutral” rating on shares of Enbridge in a research report on Monday, May 11th. Wall Street Zen raised Enbridge from a “sell” rating to a “hold” rating in a report on Sunday, July 12th. Royal Bank Of Canada upped their price target on Enbridge from $76.00 to $79.00 and gave the stock an “outperform” rating in a research report on Monday, May 11th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Enbridge in a research note on Friday, May 22nd. Six research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, Enbridge presently has an average rating of “Moderate Buy” and a consensus target price of $66.50.

Enbridge Stock Performance

Shares of NYSE ENB opened at $56.38 on Friday. The firm has a fifty day moving average price of $55.70 and a 200-day moving average price of $53.22. The company has a debt-to-equity ratio of 1.69, a current ratio of 0.81 and a quick ratio of 0.73. The stock has a market cap of $123.13 billion, a PE ratio of 26.47 and a beta of 0.58. Enbridge Inc has a 1 year low of $44.58 and a 1 year high of $58.45.

Enbridge (NYSE:ENB) (TSE:ENB) last released its earnings results on Friday, May 8th. The pipeline company reported $0.71 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.02. Enbridge had a net margin of 9.83% and a return on equity of 11.21%. The company had revenue of $9.37 billion for the quarter, compared to analysts’ expectations of $8.49 billion. During the same quarter in the previous year, the company earned $1.03 EPS. Equities analysts anticipate that Enbridge Inc will post 2.13 earnings per share for the current fiscal year.

Enbridge Dividend Announcement

The firm also recently declared 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 currently 133.80%.

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.