Catalyst Capital Advisors LLC Decreases Stock Position in Enbridge Inc $ENB

Catalyst Capital Advisors LLC reduced its position in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 13.4% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 317,006 shares of the pipeline company’s stock after selling 49,043 shares during the period. Catalyst Capital Advisors LLC’s holdings in Enbridge were worth $15,162,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in Enbridge during the 4th quarter valued at $1,195,559,000. Linscomb Wealth Inc. raised its stake in Enbridge by 3.2% during the 4th quarter. Linscomb Wealth Inc. now owns 12,452 shares of the pipeline company’s stock valued at $596,000 after buying an additional 390 shares during the last quarter. Rothschild Investment LLC raised its stake in Enbridge by 3.6% during the 4th quarter. Rothschild Investment LLC now owns 17,371 shares of the pipeline company’s stock valued at $831,000 after buying an additional 600 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in Enbridge by 15.8% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 172,746 shares of the pipeline company’s stock valued at $8,262,000 after buying an additional 23,630 shares during the last quarter. Finally, Intech Investment Management LLC raised its stake in Enbridge by 11.6% during the 4th quarter. Intech Investment Management LLC now owns 74,792 shares of the pipeline company’s stock valued at $3,584,000 after buying an additional 7,755 shares during the last quarter. 54.60% of the stock is currently owned by hedge funds and other institutional investors.

Enbridge Trading Down 1.5%

NYSE:ENB opened at $54.75 on Friday. 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 $119.56 billion, a price-to-earnings ratio of 25.71 and a beta of 0.59. Enbridge Inc has a one year low of $43.59 and a one year high of $58.45. The business has a fifty day moving average price of $54.45 and a 200-day moving average price of $51.09.

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

Enbridge Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 1st. Stockholders of record on Friday, May 15th will be paid a $0.97 dividend. This represents a $3.88 annualized dividend and a dividend yield of 7.1%. The ex-dividend date is Friday, May 15th. Enbridge’s dividend payout ratio is 133.80%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on ENB shares. Wall Street Zen lowered shares of Enbridge from a “hold” rating to a “sell” rating in a research note on Sunday, May 24th. Scotiabank reiterated an “outperform” rating on shares of Enbridge in a research note on Monday, May 11th. TD Securities lowered shares of Enbridge from a “buy” rating to a “hold” rating in a research note on Tuesday, February 17th. BMO Capital Markets reiterated a “market perform” rating on shares of Enbridge in a research note on Tuesday, February 17th. Finally, Royal Bank Of Canada boosted their target price on shares of Enbridge from $76.00 to $79.00 and gave the company an “outperform” rating in a research note on Monday, May 11th. Seven equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price 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.