Aberdeen Group plc Sells 90,900 Shares of Enbridge Inc $ENB

Aberdeen Group plc cut its stake in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 19.0% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 387,500 shares of the pipeline company’s stock after selling 90,900 shares during the period. Aberdeen Group plc’s holdings in Enbridge were worth $19,266,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. IHT Wealth Management LLC grew its stake in shares of Enbridge by 1.2% during the 2nd quarter. IHT Wealth Management LLC now owns 18,084 shares of the pipeline company’s stock valued at $820,000 after acquiring an additional 213 shares during the period. HBK Sorce Advisory LLC lifted its holdings in Enbridge by 1.8% during the third quarter. HBK Sorce Advisory LLC now owns 12,424 shares of the pipeline company’s stock valued at $609,000 after purchasing an additional 215 shares in the last quarter. Copperleaf Capital LLC boosted its position in shares of Enbridge by 3.6% in the third quarter. Copperleaf Capital LLC now owns 6,328 shares of the pipeline company’s stock worth $319,000 after purchasing an additional 217 shares during the period. South Plains Financial Inc. increased its stake in shares of Enbridge by 13.2% in the second quarter. South Plains Financial Inc. now owns 1,887 shares of the pipeline company’s stock worth $85,000 after purchasing an additional 220 shares in the last quarter. Finally, AdvisorNet Financial Inc raised its position in shares of Enbridge by 2.9% during the 3rd quarter. AdvisorNet Financial Inc now owns 7,824 shares of the pipeline company’s stock valued at $395,000 after purchasing an additional 221 shares during the period. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Enbridge Stock Performance

NYSE:ENB opened at $50.88 on Thursday. The company has a market cap of $111.00 billion, a price-to-earnings ratio of 22.12 and a beta of 0.69. Enbridge Inc has a 1 year low of $39.73 and a 1 year high of $54.19. The stock’s 50 day simple moving average is $48.22 and its two-hundred day simple moving average is $48.11. The company has a debt-to-equity ratio of 1.70, a current ratio of 0.63 and a quick ratio of 0.68.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its earnings results on Friday, February 13th. The pipeline company reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.03. Enbridge had a net margin of 11.30% and a return on equity of 11.19%. The firm had revenue of $17.18 billion during the quarter, compared to analyst estimates of $9.10 billion. During the same period last year, the firm posted $0.75 earnings per share. As a group, equities analysts anticipate 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 will be paid on Sunday, March 1st. Stockholders of record on Tuesday, February 17th will be given a dividend of $0.97 per share. The ex-dividend date is Tuesday, February 17th. This represents a $3.88 annualized dividend and a dividend yield of 7.6%. This is a positive change from Enbridge’s previous quarterly dividend of $0.94. Enbridge’s dividend payout ratio is currently 120.87%.

Analysts Set New Price Targets

Several brokerages recently weighed in on ENB. BMO Capital Markets reaffirmed a “market perform” rating on shares of Enbridge in a report on Tuesday. Raymond James Financial raised Enbridge to a “moderate buy” rating in a research note on Tuesday. Scotiabank reissued an “outperform” rating on shares of Enbridge in a research note on Tuesday. Royal Bank Of Canada boosted their price target on Enbridge from $72.00 to $76.00 and gave the stock an “outperform” rating in a report on Tuesday. Finally, Weiss Ratings upgraded Enbridge from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, February 9th. Seven research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $65.00.

Enbridge 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.