BLI Banque de Luxembourg Investments Decreases Position in Enbridge Inc $ENB

BLI Banque de Luxembourg Investments trimmed its position in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 3.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 625,295 shares of the pipeline company’s stock after selling 22,700 shares during the quarter. BLI Banque de Luxembourg Investments’ holdings in Enbridge were worth $29,908,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of ENB. Brighton Jones LLC acquired a new stake in shares of Enbridge in the 4th quarter valued at $261,000. AQR Capital Management LLC raised its holdings in shares of Enbridge by 68.5% in the 1st quarter. AQR Capital Management LLC now owns 28,533 shares of the pipeline company’s stock valued at $1,264,000 after purchasing an additional 11,599 shares in the last quarter. AXA S.A. raised its holdings in shares of Enbridge by 15.5% in the 2nd quarter. AXA S.A. now owns 113,887 shares of the pipeline company’s stock valued at $5,161,000 after purchasing an additional 15,259 shares in the last quarter. Diversify Advisory Services LLC raised its holdings in shares of Enbridge by 93.1% in the 2nd quarter. Diversify Advisory Services LLC now owns 22,016 shares of the pipeline company’s stock valued at $1,042,000 after purchasing an additional 10,617 shares in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its holdings in shares of Enbridge by 80.1% in the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 78,507 shares of the pipeline company’s stock valued at $3,553,000 after purchasing an additional 34,912 shares in the last quarter. 54.60% of the stock is currently owned by institutional investors and hedge funds.

Enbridge Price Performance

Shares of NYSE:ENB opened at $55.39 on Tuesday. The company’s fifty day moving average price is $54.66 and its 200 day moving average price is $51.44. Enbridge Inc has a 12 month low of $43.59 and a 12 month high of $58.45. 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 $120.94 billion, a P/E ratio of 26.00 and a beta of 0.58.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings data on Friday, May 8th. The pipeline company reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.02. Enbridge had a net margin of 9.83% and a return on equity of 11.21%. The company had revenue of $9.37 billion for the quarter, compared to the consensus estimate of $8.49 billion. During the same period last year, the firm posted $1.03 EPS. As a group, sell-side analysts predict that Enbridge Inc will post 2.2 earnings per share for the current fiscal year.

Enbridge Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Friday, May 15th were given a dividend of $0.97 per share. This represents a $3.88 annualized dividend and a yield of 7.0%. The ex-dividend date of this dividend was Friday, May 15th. Enbridge’s dividend payout ratio (DPR) is presently 133.80%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on ENB shares. Citigroup restated a “buy” rating on shares of Enbridge in a report on Thursday, February 19th. Weiss Ratings reiterated a “buy (b)” rating on shares of Enbridge in a research note on Friday, May 22nd. Raymond James Financial upgraded shares of Enbridge to a “moderate buy” rating in a research note on Tuesday, February 17th. Canadian Imperial Bank of Commerce reiterated a “neutral” rating on shares of Enbridge in a research note on Monday, May 11th. Finally, BMO Capital Markets reiterated a “market perform” rating on shares of Enbridge in a research note on Tuesday, February 17th. Seven analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $66.50.

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.