Employees Retirement System of Texas Lowers Position in Enbridge Inc $ENB

Employees Retirement System of Texas trimmed its holdings in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 50.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 26,704 shares of the pipeline company’s stock after selling 27,624 shares during the quarter. Employees Retirement System of Texas’ holdings in Enbridge were worth $1,277,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. 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 in the last quarter. Trajan Wealth LLC grew its stake in shares of 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 buying an additional 106,784 shares in the last quarter. Principal Financial Group Inc. raised its holdings in shares of Enbridge by 7.7% in the 3rd quarter. Principal Financial Group Inc. now owns 339,147 shares of the pipeline company’s stock valued at $17,113,000 after buying an additional 24,165 shares during the period. Exchange Traded Concepts LLC raised its holdings in shares of Enbridge by 3.9% in the 4th quarter. Exchange Traded Concepts LLC now owns 1,121,715 shares of the pipeline company’s stock valued at $53,652,000 after buying an additional 41,601 shares during the period. Finally, Viking Fund Management LLC lifted its stake in 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 acquiring an additional 61,500 shares in the last quarter. 54.60% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. BMO Capital Markets reaffirmed a “market perform” rating on shares of Enbridge in a research report on Tuesday, February 17th. Canadian Imperial Bank of Commerce reissued a “neutral” rating on shares of Enbridge in a research report on Monday, May 11th. Weiss Ratings reissued a “buy (b)” rating on shares of Enbridge in a research note on Friday, May 22nd. Citigroup restated a “buy” rating on shares of Enbridge in a report on Thursday, February 19th. Finally, TD Securities lowered shares of Enbridge from a “buy” rating to a “hold” rating in a report on Tuesday, February 17th. Seven research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $66.50.

Enbridge Price Performance

ENB stock opened at $56.17 on Thursday. The company has a debt-to-equity ratio of 1.69, a current ratio of 0.81 and a quick ratio of 0.73. The firm has a market capitalization of $122.66 billion, a P/E ratio of 26.37 and a beta of 0.59. The business’s 50-day moving average is $54.39 and its two-hundred day moving average is $51.01. Enbridge Inc has a 1 year low of $43.59 and a 1 year high of $58.45.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings data on Friday, May 8th. The pipeline company reported $0.71 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.02. Enbridge had a return on equity of 11.21% and a net margin of 9.83%.The business had revenue of $9.37 billion during the quarter, compared to the consensus estimate of $8.49 billion. During the same period in the previous year, the company posted $1.03 earnings per share. Analysts anticipate that Enbridge Inc will post 2.18 earnings per share for the current fiscal year.

Enbridge Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Friday, May 15th will be issued a dividend of $0.97 per share. This represents a $3.88 annualized dividend and a yield of 6.9%. The ex-dividend date is Friday, May 15th. Enbridge’s payout ratio is 133.80%.

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.