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

Aberdeen Group plc cut its holdings in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 19.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 387,500 shares of the pipeline company’s stock after selling 90,900 shares during the quarter. Aberdeen Group plc’s holdings in Enbridge were worth $19,266,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. MSH Capital Advisors LLC lifted its position in Enbridge by 6.8% during the 3rd quarter. MSH Capital Advisors LLC now owns 17,477 shares of the pipeline company’s stock valued at $882,000 after acquiring an additional 1,110 shares during the period. Omnia Family Wealth LLC bought a new position in shares of Enbridge during the third quarter valued at approximately $211,000. Ameritas Advisory Services LLC lifted its holdings in shares of Enbridge by 24.5% during the third quarter. Ameritas Advisory Services LLC now owns 5,075 shares of the pipeline company’s stock valued at $256,000 after purchasing an additional 999 shares during the last quarter. Metis Global Partners LLC boosted its position in shares of Enbridge by 27.3% in the 3rd quarter. Metis Global Partners LLC now owns 290,159 shares of the pipeline company’s stock worth $14,638,000 after purchasing an additional 62,313 shares in the last quarter. Finally, Tacita Capital Inc grew its stake in shares of Enbridge by 0.4% in the 3rd quarter. Tacita Capital Inc now owns 63,418 shares of the pipeline company’s stock worth $3,201,000 after buying an additional 237 shares during the last quarter. 54.60% of the stock is currently owned by institutional investors.

Enbridge Price Performance

NYSE ENB opened at $50.88 on Thursday. Enbridge Inc has a one year low of $39.73 and a one year high of $54.19. The stock has a 50-day moving average of $48.22 and a 200 day moving average of $48.11. The company has a debt-to-equity ratio of 1.70, a quick ratio of 0.68 and a current ratio of 0.63. The company has a market capitalization of $111.00 billion, a price-to-earnings ratio of 22.12 and a beta of 0.69.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings results on Friday, February 13th. The pipeline company reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.03. Enbridge had a return on equity of 11.19% and a net margin of 11.30%.The firm had revenue of $17.18 billion for the quarter, compared to analysts’ expectations of $9.10 billion. During the same period in the prior year, the firm earned $0.75 EPS. On average, sell-side analysts forecast that Enbridge Inc will post 2.14 EPS for the current year.

Enbridge Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Sunday, March 1st. Investors of record on Tuesday, February 17th will be given a dividend of $0.97 per share. This represents a $3.88 annualized dividend and a yield of 7.6%. This is a positive change from Enbridge’s previous quarterly dividend of $0.94. The ex-dividend date is Tuesday, February 17th. Enbridge’s dividend payout ratio (DPR) is presently 120.87%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Weiss Ratings upgraded Enbridge from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, February 9th. National Bank Financial reaffirmed a “sector perform” rating on shares of Enbridge in a research report on Monday, November 10th. Zacks Research upgraded shares of Enbridge from a “strong sell” rating to a “hold” rating in a research note on Monday, December 29th. JPMorgan Chase & Co. lowered shares of Enbridge from an “overweight” rating to a “neutral” rating in a research note on Tuesday, January 27th. Finally, TD Securities downgraded shares of Enbridge from a “buy” rating to a “hold” rating in a research note on Tuesday. Seven analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $65.00.

About Enbridge

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.