Bollard Group LLC Cuts Stake in Enbridge Inc $ENB

Bollard Group LLC reduced its stake in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 30.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 199,448 shares of the pipeline company’s stock after selling 87,472 shares during the period. Bollard Group LLC’s holdings in Enbridge were worth $9,539,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Triumph Capital Management purchased a new stake in shares of Enbridge in the third quarter worth $26,000. Turning Point Benefit Group Inc. purchased a new stake in shares of Enbridge during the third quarter valued at $28,000. Garner Asset Management Corp purchased a new stake in shares of Enbridge during the fourth quarter valued at $30,000. Imprint Wealth LLC purchased a new stake in shares of Enbridge during the third quarter valued at $31,000. Finally, Tucker Asset Management LLC purchased a new stake in shares of Enbridge during the fourth quarter valued at $38,000. 54.60% of the stock is owned by hedge funds and other institutional investors.

Enbridge Stock Up 0.0%

ENB stock opened at $56.49 on Friday. Enbridge Inc has a fifty-two week low of $43.59 and a fifty-two week high of $58.45. The business’s 50-day moving average is $54.83 and its two-hundred day moving average is $51.64. The company has a debt-to-equity ratio of 1.69, a quick ratio of 0.73 and a current ratio of 0.81. The company has a market cap of $123.35 billion, a price-to-earnings ratio of 26.52 and a beta of 0.58.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its earnings results on Friday, May 8th. The pipeline company reported $0.71 earnings per share for the quarter, beating 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 company had revenue of $9.37 billion for the quarter, compared to the consensus estimate of $8.49 billion. During the same quarter in the prior year, the company earned $1.03 earnings per share. As a group, analysts forecast that Enbridge Inc will post 2.18 earnings per share for the current year.

Enbridge Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Friday, May 15th were issued a $0.97 dividend. The ex-dividend date of this dividend was Friday, May 15th. This represents a $3.88 dividend on an annualized basis and a yield of 6.9%. Enbridge’s dividend payout ratio is currently 133.80%.

Analysts Set New Price Targets

ENB has been the topic of several recent analyst reports. Royal Bank Of Canada increased their price objective on Enbridge from $76.00 to $79.00 and gave the company an “outperform” rating in a research report on Monday, May 11th. BMO Capital Markets reaffirmed a “market perform” rating on shares of Enbridge in a research report on Tuesday, February 17th. Wall Street Zen raised Enbridge from a “sell” rating to a “hold” rating in a research report on Saturday. Scotiabank reaffirmed an “outperform” rating on shares of Enbridge in a research report on Monday, May 11th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Enbridge in a research report on Friday, May 22nd. Seven equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, Enbridge has an average rating of “Moderate Buy” and an average price target of $66.50.

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.