Barings LLC Reduces Stock Holdings in Enbridge Inc $ENB

Barings LLC lowered its holdings in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 30.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 129,888 shares of the pipeline company’s stock after selling 56,054 shares during the quarter. Barings LLC’s holdings in Enbridge were worth $7,042,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Brighton Jones LLC acquired a new position in shares of Enbridge in the 4th quarter valued at $261,000. AQR Capital Management LLC grew its position in Enbridge by 68.5% during the first quarter. AQR Capital Management LLC now owns 28,533 shares of the pipeline company’s stock valued at $1,264,000 after buying an additional 11,599 shares during the period. AXA S.A. increased its holdings in Enbridge by 15.5% in the second quarter. AXA S.A. now owns 113,887 shares of the pipeline company’s stock valued at $5,161,000 after buying an additional 15,259 shares in the last quarter. Diversify Advisory Services LLC increased its holdings in Enbridge by 93.1% in the second quarter. Diversify Advisory Services LLC now owns 22,016 shares of the pipeline company’s stock valued at $1,042,000 after buying an additional 10,617 shares in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its holdings in Enbridge by 80.1% in the second 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 buying an additional 34,912 shares in the last quarter. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Wall Street Zen raised shares of Enbridge from a “sell” rating to a “hold” rating in a research note on Sunday, July 12th. TD Securities restated a “hold” rating on shares of Enbridge in a research note on Thursday. Royal Bank Of Canada upped their price target on Enbridge from $76.00 to $79.00 and gave the stock an “outperform” rating in a report on Monday, May 11th. Weiss Ratings reiterated a “buy (b)” rating on shares of Enbridge in a research report on Friday, May 22nd. Finally, Scotiabank reiterated an “outperform” rating on shares of Enbridge in a research report on Monday, May 11th. Seven analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, Enbridge currently has a consensus rating of “Moderate Buy” and a consensus target price of $66.50.

Enbridge Stock Up 0.5%

Shares of NYSE ENB opened at $56.45 on Friday. Enbridge Inc has a 12-month low of $44.53 and a 12-month high of $58.45. The stock has a market cap of $123.28 billion, a PE ratio of 26.50 and a beta of 0.58. The company has a current ratio of 0.81, a quick ratio of 0.73 and a debt-to-equity ratio of 1.69. The company has a 50-day moving average of $55.58 and a 200 day moving average of $52.93.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings data on Friday, May 8th. The pipeline company reported $0.71 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.02. The company had revenue of $9.37 billion during the quarter, compared to the consensus estimate of $8.49 billion. Enbridge had a net margin of 9.83% and a return on equity of 11.21%. During the same quarter in the prior year, the firm earned $1.03 EPS. As a group, sell-side analysts predict that Enbridge Inc will post 2.14 EPS for the current fiscal year.

Enbridge Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Friday, May 15th were paid a dividend of $0.97 per share. 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 payout ratio is 133.80%.

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.