Envestnet Portfolio Solutions Inc. Lowers Holdings in Enbridge Inc $ENB

Envestnet Portfolio Solutions Inc. cut its holdings in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 41.3% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 85,928 shares of the pipeline company’s stock after selling 60,452 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Enbridge were worth $4,336,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. IHT Wealth Management LLC increased its position in Enbridge by 1.2% in the second quarter. IHT Wealth Management LLC now owns 18,084 shares of the pipeline company’s stock worth $820,000 after purchasing an additional 213 shares during the last quarter. HBK Sorce Advisory LLC grew its holdings in shares of Enbridge by 1.8% in the third quarter. HBK Sorce Advisory LLC now owns 12,424 shares of the pipeline company’s stock worth $609,000 after purchasing an additional 215 shares during the last quarter. Copperleaf Capital LLC increased its position in shares of Enbridge by 3.6% during the third quarter. Copperleaf Capital LLC now owns 6,328 shares of the pipeline company’s stock worth $319,000 after acquiring an additional 217 shares during the period. South Plains Financial Inc. increased its holdings in Enbridge by 13.2% during the 2nd 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 during the period. Finally, IFP Advisors Inc raised its holdings in shares of Enbridge by 1.2% in the second quarter. IFP Advisors Inc now owns 18,217 shares of the pipeline company’s stock valued at $826,000 after acquiring an additional 221 shares in the last quarter. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Analysts Set New Price Targets

ENB has been the topic of a number of analyst reports. Weiss Ratings upgraded Enbridge from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, January 12th. CIBC lowered Enbridge from an “outperform” rating to a “neutral” rating in a research note on Thursday, October 9th. Royal Bank Of Canada lifted their price objective on shares of Enbridge from $67.00 to $72.00 and gave the company an “outperform” rating in a research note on Monday, November 10th. Zacks Research upgraded Enbridge from a “strong sell” rating to a “hold” rating in a research report on Monday, December 29th. Finally, National Bankshares reissued a “sector perform” rating on shares of Enbridge in a research note on Monday, November 10th. Six analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $63.00.

Enbridge Trading Up 1.5%

ENB opened at $48.19 on Monday. The firm has a market cap of $105.13 billion, a P/E ratio of 26.48 and a beta of 0.68. The company has a quick ratio of 0.68, a current ratio of 0.80 and a debt-to-equity ratio of 1.64. The business has a fifty day simple moving average of $47.39 and a 200-day simple moving average of $47.47. Enbridge Inc has a 52 week low of $39.73 and a 52 week high of $50.54.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings results on Friday, November 7th. The pipeline company reported $0.33 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.06). Enbridge had a return on equity of 10.51% and a net margin of 9.20%.The business had revenue of $7 billion during the quarter, compared to analyst estimates of $8.45 billion. During the same quarter last year, the firm earned $0.55 EPS. On average, equities analysts expect that Enbridge Inc will post 2.14 earnings per share for the current year.

Enbridge Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, March 1st. Shareholders of record on Tuesday, February 17th will be paid a $0.97 dividend. This is a boost from Enbridge’s previous quarterly dividend of $0.94. This represents a $3.88 annualized dividend and a yield of 8.1%. The ex-dividend date is Tuesday, February 17th. Enbridge’s payout ratio is currently 147.80%.

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.