Enbridge Inc $ENB Shares Sold by Employees Retirement System of Texas

Employees Retirement System of Texas trimmed its holdings in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 50.8% in the fourth quarter, Holdings Channel reports. The institutional investor owned 26,704 shares of the pipeline company’s stock after selling 27,624 shares during the period. Employees Retirement System of Texas’ holdings in Enbridge were worth $1,277,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Jones Financial Companies Lllp lifted its stake in Enbridge by 15.3% during the third quarter. Jones Financial Companies Lllp now owns 1,676,947 shares of the pipeline company’s stock worth $83,176,000 after purchasing an additional 221,976 shares during the last quarter. Trajan Wealth LLC increased its stake in Enbridge by 15.3% in the third quarter. Trajan Wealth LLC now owns 804,261 shares of the pipeline company’s stock valued at $40,583,000 after purchasing an additional 106,784 shares during the last quarter. Principal Financial Group Inc. raised its holdings in Enbridge by 7.7% during the third quarter. Principal Financial Group Inc. now owns 339,147 shares of the pipeline company’s stock worth $17,113,000 after purchasing an additional 24,165 shares in the last quarter. Exchange Traded Concepts LLC raised its holdings in Enbridge by 3.9% during the fourth quarter. Exchange Traded Concepts LLC now owns 1,121,715 shares of the pipeline company’s stock worth $53,652,000 after purchasing an additional 41,601 shares in the last quarter. Finally, Viking Fund Management LLC lifted its position in shares of Enbridge by 35.2% during the 4th quarter. Viking Fund Management LLC now owns 236,000 shares of the pipeline company’s stock worth $11,288,000 after buying an additional 61,500 shares during the last quarter. 54.60% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. BMO Capital Markets restated a “market perform” rating on shares of Enbridge in a report on Tuesday, February 17th. Wall Street Zen cut shares of Enbridge from a “hold” rating to a “sell” rating in a research report on Sunday. Canadian Imperial Bank of Commerce restated a “neutral” rating on shares of Enbridge in a research note on Monday, May 11th. Scotiabank reaffirmed an “outperform” rating on shares of Enbridge in a report on Monday, May 11th. Finally, Royal Bank Of Canada lifted their target price on Enbridge from $76.00 to $79.00 and gave the stock an “outperform” rating in a research report on Monday, May 11th. Seven equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, Enbridge currently has a consensus rating of “Moderate Buy” and an average target price of $66.50.

Enbridge Stock Performance

Shares of ENB opened at $56.17 on Thursday. The company’s 50 day simple moving average is $54.39 and its 200-day simple moving average is $51.01. The firm has a market cap of $122.66 billion, a PE ratio of 26.37 and a beta of 0.59. Enbridge Inc has a 12-month low of $43.59 and a 12-month high of $58.45. The company has a current ratio of 0.81, a quick ratio of 0.73 and a debt-to-equity ratio of 1.69.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings results on Friday, May 8th. The pipeline company reported $0.71 EPS for the quarter, beating the consensus estimate of $0.69 by $0.02. The firm had revenue of $9.37 billion during the quarter, compared to the consensus estimate of $8.49 billion. Enbridge had a net margin of 9.83% and a return on equity of 11.21%. During the same quarter in the prior year, the firm earned $1.03 EPS. As a group, equities analysts predict that Enbridge Inc will post 2.18 EPS for the current year.

Enbridge Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Stockholders of record on Friday, May 15th will be issued a $0.97 dividend. This represents a $3.88 dividend on an annualized basis and a dividend yield of 6.9%. The ex-dividend date of this dividend is Friday, May 15th. Enbridge’s dividend payout ratio is presently 133.80%.

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.