Royal London Asset Management Ltd. Sells 12,453 Shares of Enbridge Inc $ENB

Royal London Asset Management Ltd. trimmed its holdings in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 13.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 78,373 shares of the pipeline company’s stock after selling 12,453 shares during the quarter. Royal London Asset Management Ltd.’s holdings in Enbridge were worth $4,249,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Retirement Planning Group LLC lifted its holdings in Enbridge by 3.6% in the 1st quarter. Retirement Planning Group LLC now owns 5,357 shares of the pipeline company’s stock worth $290,000 after purchasing an additional 187 shares during the last quarter. Bank & Trust Co grew its holdings in Enbridge by 0.6% during the second quarter. Bank & Trust Co now owns 33,276 shares of the pipeline company’s stock valued at $1,804,000 after purchasing an additional 193 shares during the last quarter. Cornerstone Wealth Management LLC grew its holdings in Enbridge by 0.6% during the second quarter. Cornerstone Wealth Management LLC now owns 31,543 shares of the pipeline company’s stock valued at $1,710,000 after purchasing an additional 194 shares during the last quarter. PFG Investments LLC raised its position in shares of Enbridge by 0.9% in the first quarter. PFG Investments LLC now owns 22,208 shares of the pipeline company’s stock valued at $1,202,000 after purchasing an additional 202 shares during the period. Finally, MIdWestOne Financial Group Inc. raised its position in shares of Enbridge by 4.3% in the fourth quarter. MIdWestOne Financial Group Inc. now owns 4,906 shares of the pipeline company’s stock valued at $235,000 after purchasing an additional 203 shares during the period. 54.60% of the stock is currently owned by institutional investors.

Enbridge Price Performance

NYSE:ENB opened at $50.65 on Tuesday. The company has a debt-to-equity ratio of 1.69, a current ratio of 0.72 and a quick ratio of 0.66. Enbridge Inc has a one year low of $45.03 and a one year high of $58.45. The company has a fifty day moving average price of $53.56 and a 200 day moving average price of $54.02. The stock has a market cap of $110.62 billion, a P/E ratio of 27.09 and a beta of 0.58.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings results on Friday, July 31st. The pipeline company reported $0.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.03. The company had revenue of $9.70 billion for the quarter, compared to analyst estimates of $8.67 billion. Enbridge had a net margin of 7.20% and a return on equity of 11.17%. During the same period last year, the business posted $0.65 EPS. Analysts anticipate that Enbridge Inc will post 2.11 earnings per share for the current year.

Enbridge Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Friday, August 14th will be paid a dividend of $0.97 per share. This represents a $3.88 annualized dividend and a yield of 7.7%. The ex-dividend date is Friday, August 14th. Enbridge’s payout ratio is currently 147.06%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on ENB shares. TD Securities reaffirmed a “hold” rating on shares of Enbridge in a report on Thursday, July 16th. Raymond James Financial downgraded shares of Enbridge from an “outperform” rating to a “market perform” rating in a report on Friday, July 31st. Weiss Ratings reissued a “buy (b)” rating on shares of Enbridge in a research report on Wednesday, August 19th. Wall Street Zen upgraded shares of Enbridge from a “sell” rating to a “hold” rating in a report on Sunday, July 12th. Finally, Scotiabank reaffirmed an “outperform” rating on shares of Enbridge in a research report on Tuesday, July 21st. Six investment 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 company presently has an average rating of “Moderate Buy” and a consensus target price of $67.00.

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.