Cetera Investment Advisers Sells 29,942 Shares of Enbridge Inc $ENB

Cetera Investment Advisers lessened its stake in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 2.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,446,479 shares of the pipeline company’s stock after selling 29,942 shares during the quarter. Cetera Investment Advisers owned 0.07% of Enbridge worth $78,232,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of ENB. CacheTech Inc. grew its position in Enbridge by 104.7% during the 1st quarter. CacheTech Inc. now owns 17,275 shares of the pipeline company’s stock valued at $935,000 after purchasing an additional 8,835 shares during the last quarter. Barometer Capital Management Inc. raised its holdings in Enbridge by 1,064.3% in the first quarter. Barometer Capital Management Inc. now owns 97,800 shares of the pipeline company’s stock worth $5,295,000 after buying an additional 89,400 shares during the last quarter. Oslo Pensjonsforsikring AS purchased a new position in Enbridge in the first quarter worth about $384,000. Cassaday & Co Wealth Management LLC bought a new position in shares of Enbridge in the first quarter worth approximately $64,000. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Enbridge by 6.5% in the first quarter. Dimensional Fund Advisors LP now owns 3,271,508 shares of the pipeline company’s stock worth $177,122,000 after buying an additional 200,567 shares in the last quarter. Institutional investors own 54.60% of the company’s stock.

Enbridge Stock Performance

Shares of ENB stock opened at $56.38 on Friday. The company has a 50 day moving average price of $55.70 and a 200-day moving average price of $53.22. Enbridge Inc has a 52 week low of $44.58 and a 52 week high of $58.45. The firm has a market capitalization of $123.13 billion, a PE ratio of 26.47 and a beta of 0.58. The company has a quick ratio of 0.73, a current ratio of 0.81 and a debt-to-equity ratio of 1.69.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings data on Friday, May 8th. The pipeline company reported $0.71 earnings per share for the quarter, beating 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 firm had revenue of $9.37 billion during the quarter, compared to analysts’ expectations of $8.49 billion. During the same period in the previous year, the company earned $1.03 earnings per share. As a group, equities research analysts expect that Enbridge Inc will post 2.13 earnings per share for the current year.

Enbridge Dividend Announcement

The business also recently announced 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 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 currently 133.80%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on ENB. Weiss Ratings reissued a “buy (b)” rating on shares of Enbridge in a research report on Friday, May 22nd. Canadian Imperial Bank of Commerce reaffirmed a “neutral” rating on shares of Enbridge in a research report on Monday, May 11th. Wall Street Zen upgraded Enbridge from a “sell” rating to a “hold” rating in a research note on Sunday, July 12th. Royal Bank Of Canada lifted their target price on Enbridge from $76.00 to $79.00 and gave the stock an “outperform” rating in a report on Monday, May 11th. Finally, TD Securities restated a “hold” rating on shares of Enbridge in a research note on Thursday, July 16th. Six analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, Enbridge currently has a consensus rating of “Moderate Buy” and an average price target 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.