Enbridge Inc (NYSE:ENB) Shares Sold by Allworth Financial LP

by · The Markets Daily

Allworth Financial LP cut its stake in Enbridge Inc (NYSE:ENB – Free Report) (TSE:ENB) by 1.4% during the first quarter, HoldingsChannel reports. The institutional investor owned 68,618 shares of the pipeline company’s stock after selling 986 shares during the quarter. Allworth Financial LP’s holdings in Enbridge were worth $3,181,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of Enbridge by 4.1% during the fourth quarter. Vanguard Group Inc. now owns 91,617,146 shares of the pipeline company’s stock valued at $3,888,507,000 after acquiring an additional 3,611,421 shares during the last quarter. GQG Partners LLC increased its position in shares of Enbridge by 2.1% during the fourth quarter. GQG Partners LLC now owns 74,290,740 shares of the pipeline company’s stock worth $3,151,500,000 after purchasing an additional 1,495,742 shares in the last quarter. TD Asset Management Inc. increased its position in shares of Enbridge by 2.8% during the fourth quarter. TD Asset Management Inc. now owns 38,752,759 shares of the pipeline company’s stock worth $1,643,935,000 after purchasing an additional 1,040,799 shares in the last quarter. Deutsche Bank AG raised its stake in Enbridge by 13.9% in the 4th quarter. Deutsche Bank AG now owns 36,336,212 shares of the pipeline company’s stock valued at $1,541,745,000 after purchasing an additional 4,426,684 shares during the last quarter. Finally, Norges Bank purchased a new position in Enbridge in the 4th quarter valued at $909,415,000. 54.60% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have issued reports on ENB. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $67.00 target price on shares of Enbridge in a research note on Monday, May 12th. National Bankshares restated a “sector perform” rating on shares of Enbridge in a research report on Monday, May 12th. BMO Capital Markets reaffirmed a “market perform” rating on shares of Enbridge in a research note on Monday, May 12th. Wall Street Zen raised shares of Enbridge from a “sell” rating to a “hold” rating in a research note on Thursday, May 22nd. Finally, Citigroup started coverage on Enbridge in a report on Friday, April 4th. They set a “buy” rating on the stock. Six equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, Enbridge presently has a consensus rating of “Hold” and an average target price of $67.00.

View Our Latest Research Report on Enbridge

Enbridge Price Performance

Enbridge stock opened at $44.53 on Friday. The company has a current ratio of 0.73, a quick ratio of 0.66 and a debt-to-equity ratio of 1.51. The company has a 50-day moving average price of $45.49 and a 200 day moving average price of $44.32. Enbridge Inc has a 12-month low of $35.68 and a 12-month high of $47.44. The stock has a market cap of $97.09 billion, a P/E ratio of 22.95, a PEG ratio of 4.19 and a beta of 0.79.

Enbridge (NYSE:ENB – Get Free Report) (TSE:ENB) last posted its quarterly earnings results on Friday, May 9th. The pipeline company reported $0.72 earnings per share 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 net margin of 10.16% and a return on equity of 10.41%. During the same quarter in the prior year, the company posted $0.92 EPS. Sell-side analysts anticipate that Enbridge Inc will post 2.14 earnings per share for the current year.

Enbridge Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Sunday, June 1st. Shareholders 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 of this dividend was Thursday, May 15th. This represents a $2.72 annualized dividend and a yield of 6.10%. Enbridge’s dividend payout ratio (DPR) is 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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