Mediolanum International Funds Ltd Sells 48,463 Shares of Enbridge Inc $ENB

Mediolanum International Funds Ltd lowered its position in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 30.7% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 109,646 shares of the pipeline company’s stock after selling 48,463 shares during the quarter. Mediolanum International Funds Ltd’s holdings in Enbridge were worth $5,452,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Whipplewood Advisors LLC lifted its position in shares of Enbridge by 112.4% in the second quarter. Whipplewood Advisors LLC now owns 582 shares of the pipeline company’s stock valued at $26,000 after acquiring an additional 308 shares in the last quarter. Highline Wealth Partners LLC raised its stake in Enbridge by 73.1% during the 3rd quarter. Highline Wealth Partners LLC now owns 559 shares of the pipeline company’s stock valued at $28,000 after purchasing an additional 236 shares during the period. Financial Gravity Companies Inc. purchased a new position in Enbridge in the 2nd quarter worth approximately $29,000. True Wealth Design LLC lifted its holdings in Enbridge by 588.2% in the 3rd quarter. True Wealth Design LLC now owns 585 shares of the pipeline company’s stock worth $30,000 after purchasing an additional 500 shares in the last quarter. Finally, Twin Peaks Wealth Advisors LLC bought a new position in Enbridge in the 2nd quarter worth approximately $31,000. 54.60% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. CIBC cut shares of Enbridge from an “outperform” rating to a “neutral” rating in a research report on Thursday, October 9th. Weiss Ratings downgraded shares of Enbridge from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, January 26th. Cibc World Mkts downgraded shares of Enbridge from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 9th. National Bankshares reissued a “sector perform” rating on shares of Enbridge in a report on Monday, November 10th. Finally, Scotiabank raised Enbridge from a “sector perform” rating to a “sector outperform” rating in a report on Friday, January 16th. Five analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $63.00.

Enbridge Stock Performance

Shares of NYSE:ENB opened at $48.30 on Tuesday. The firm has a fifty day simple moving average of $47.44 and a two-hundred day simple moving average of $47.62. Enbridge Inc has a 52 week low of $39.73 and a 52 week high of $50.54. 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 stock has a market capitalization of $105.37 billion, a P/E ratio of 26.54 and a beta of 0.69.

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

Enbridge Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, March 1st. Stockholders of record on Tuesday, February 17th will be paid a $0.97 dividend. This represents a $3.88 annualized dividend and a dividend yield of 8.0%. The ex-dividend date of this dividend is Tuesday, February 17th. This is a positive change from Enbridge’s previous quarterly dividend of $0.94. Enbridge’s dividend payout ratio is 147.80%.

Enbridge Company 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.