Enbridge Inc $ENB Shares Sold by Northwestern Mutual Wealth Management Co.

Northwestern Mutual Wealth Management Co. cut its holdings in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 53.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 69,522 shares of the pipeline company’s stock after selling 79,594 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in Enbridge were worth $3,325,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. Tsfg LLC boosted its position in Enbridge by 329.6% during the third quarter. Tsfg LLC now owns 494 shares of the pipeline company’s stock worth $25,000 after acquiring an additional 379 shares during the last quarter. Triumph Capital Management acquired a new stake in Enbridge during the third quarter worth approximately $26,000. Turning Point Benefit Group Inc. acquired a new stake in Enbridge during the third quarter worth approximately $28,000. Imprint Wealth LLC acquired a new stake in Enbridge during the third quarter worth approximately $31,000. Finally, Garner Asset Management Corp acquired a new stake in Enbridge during the fourth quarter worth approximately $30,000. 54.60% of the stock is currently owned by institutional investors and hedge funds.

Enbridge Stock Performance

NYSE:ENB opened at $58.07 on Monday. The company has a quick ratio of 0.73, a current ratio of 0.81 and a debt-to-equity ratio of 1.69. The company has a market cap of $126.80 billion, a P/E ratio of 27.26 and a beta of 0.59. Enbridge Inc has a fifty-two week low of $43.59 and a fifty-two week high of $58.45. The firm’s 50 day moving average is $54.21 and its two-hundred day moving average is $50.79.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings results on Friday, May 8th. The pipeline company reported $0.71 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.02. The company had revenue of $9.37 billion for 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 last year, the firm posted $1.03 earnings per share. Analysts expect that Enbridge Inc will post 2.18 EPS for the current year.

Enbridge Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Friday, May 15th will be paid a dividend of $0.97 per share. The ex-dividend date of this dividend is Friday, May 15th. This represents a $3.88 dividend on an annualized basis and a yield of 6.7%. Enbridge’s dividend payout ratio (DPR) is currently 133.80%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on ENB shares. JPMorgan Chase & Co. lowered shares of Enbridge from an “overweight” rating to a “neutral” rating in a research report on Tuesday, January 27th. Citigroup restated a “buy” rating on shares of Enbridge in a research report on Thursday, February 19th. BMO Capital Markets restated a “market perform” rating on shares of Enbridge in a research report on Tuesday, February 17th. Weiss Ratings upgraded shares of Enbridge from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, February 9th. Finally, Royal Bank Of Canada raised their target price on shares of 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 assigned a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $66.50.

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.