Enbridge Inc (NYSE:ENB) Shares Sold by Sabal Trust CO

by · The Markets Daily

Sabal Trust CO cut its stake in Enbridge Inc (NYSE:ENB – Free Report) (TSE:ENB) by 5.4% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 13,944 shares of the pipeline company’s stock after selling 800 shares during the quarter. Sabal Trust CO’s holdings in Enbridge were worth $618,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ENB. Garde Capital Inc. acquired a new stake in shares of Enbridge during the 1st quarter worth about $26,000. Wintrust Investments LLC grew its position in Enbridge by 47.8% in the 4th quarter. Wintrust Investments LLC now owns 736 shares of the pipeline company’s stock valued at $31,000 after acquiring an additional 238 shares in the last quarter. GeoWealth Management LLC grew its position in Enbridge by 436.4% in the 4th quarter. GeoWealth Management LLC now owns 751 shares of the pipeline company’s stock valued at $32,000 after acquiring an additional 611 shares in the last quarter. Wolff Wiese Magana LLC grew its position in Enbridge by 91.3% in the 1st quarter. Wolff Wiese Magana LLC now owns 765 shares of the pipeline company’s stock valued at $34,000 after acquiring an additional 365 shares in the last quarter. Finally, Capital A Wealth Management LLC acquired a new position in Enbridge in the 4th quarter valued at about $39,000. 54.60% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. National Bankshares reaffirmed a “sector perform” rating on shares of Enbridge in a research report on Monday, May 12th. Wall Street Zen raised Enbridge from a “sell” rating to a “hold” rating in a research report on Thursday, May 22nd. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $67.00 target price on shares of Enbridge in a research report on Monday, May 12th. Raymond James Financial raised Enbridge to a “moderate buy” rating in a research report on Wednesday, April 23rd. Finally, Citigroup initiated coverage on Enbridge in a research note on Friday, April 4th. They issued a “buy” rating for the company. Six equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $67.00.

Check Out Our Latest Research Report on ENB

Enbridge Stock Performance

Shares of ENB opened at $45.09 on Friday. The stock has a 50-day simple moving average of $45.83 and a 200-day simple moving average of $44.10. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.66 and a current ratio of 0.73. The stock has a market capitalization of $98.30 billion, a PE ratio of 23.24, a PEG ratio of 4.19 and a beta of 0.81. Enbridge Inc has a 1 year low of $35.10 and a 1 year high of $47.44.

Enbridge (NYSE:ENB – Get Free Report) (TSE:ENB) last announced its quarterly earnings data on Friday, May 9th. The pipeline company reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.04. The business had revenue of $7.27 billion during the quarter, compared to analysts’ expectations of $10.20 billion. Enbridge had a return on equity of 10.41% and a net margin of 10.16%. During the same quarter last year, the business posted $0.92 EPS. On average, analysts predict that Enbridge Inc will post 2.14 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Sunday, June 1st. Investors of record on Thursday, May 15th were paid a dividend of $0.679 per share. This is a boost from Enbridge’s previous quarterly dividend of $0.67. The ex-dividend date was Thursday, May 15th. This represents a $2.72 annualized dividend and a yield of 6.02%. Enbridge’s payout ratio is presently 140.21%.

About Enbridge

(Free Report)

Enbridge Inc, together with its subsidiaries, operates as an energy infrastructure company. The company operates through five segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution and Storage, Renewable Power Generation, and Energy Services. The Liquids Pipelines segment operates pipelines and related terminals to transport various grades of crude oil and other liquid hydrocarbons in Canada and the United States.

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