Advisors Management Group Inc. ADV Decreases Stock Position in Enbridge Inc $ENB

Advisors Management Group Inc. ADV trimmed its position in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 10.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 152,720 shares of the pipeline company’s stock after selling 17,512 shares during the period. Enbridge makes up 1.5% of Advisors Management Group Inc. ADV’s portfolio, making the stock its 17th biggest position. Advisors Management Group Inc. ADV’s holdings in Enbridge were worth $8,268,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ENB. Simplicity Wealth LLC lifted its holdings in Enbridge by 9.2% in the 1st quarter. Simplicity Wealth LLC now owns 6,953 shares of the pipeline company’s stock worth $376,000 after buying an additional 587 shares in the last quarter. Candriam S.C.A. increased its position in shares of Enbridge by 7.8% during the first quarter. Candriam S.C.A. now owns 57,862 shares of the pipeline company’s stock worth $3,127,000 after acquiring an additional 4,179 shares during the last quarter. Walled Lake Planning & Wealth Management LLC purchased a new stake in shares of Enbridge during the first quarter worth about $203,000. Hsbc Holdings PLC lifted its stake in shares of Enbridge by 2,018.6% in the first quarter. Hsbc Holdings PLC now owns 103,559 shares of the pipeline company’s stock worth $5,608,000 after acquiring an additional 98,671 shares in the last quarter. Finally, Texas Bank & Trust Co acquired a new position in shares of Enbridge in the first quarter worth about $245,000. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Enbridge Stock Performance

Shares of Enbridge stock opened at $54.64 on Friday. The company has a debt-to-equity ratio of 1.69, a quick ratio of 0.73 and a current ratio of 0.81. Enbridge Inc has a 1 year low of $44.13 and a 1 year high of $58.45. The firm’s 50-day simple moving average is $55.48 and its 200-day simple moving average is $52.65. The firm has a market cap of $119.34 billion, a PE ratio of 25.65 and a beta of 0.58.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings results on Friday, May 8th. The pipeline company reported $0.71 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.02. The business had revenue of $9.37 billion during the quarter, compared to the consensus estimate of $8.49 billion. Enbridge had a return on equity of 11.21% and a net margin of 9.83%.During the same period last year, the firm earned $1.03 earnings per share. Equities analysts forecast that Enbridge Inc will post 2.15 earnings per share for the current fiscal year.

Enbridge Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Friday, May 15th were given a $0.97 dividend. The ex-dividend date was Friday, May 15th. This represents a $3.88 annualized dividend and a dividend yield of 7.1%. Enbridge’s dividend payout ratio (DPR) is presently 133.80%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Canadian Imperial Bank of Commerce restated a “neutral” rating on shares of Enbridge in a research note on Monday, May 11th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Enbridge in a research report on Friday, May 22nd. Wall Street Zen cut Enbridge from a “hold” rating to a “sell” rating in a research note on Saturday, June 27th. Scotiabank reissued an “outperform” rating on shares of Enbridge in a research report on Monday, May 11th. Finally, Royal Bank Of Canada lifted their price target on shares of Enbridge from $76.00 to $79.00 and gave the stock an “outperform” rating in a research note on Monday, May 11th. Seven investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus 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.