Dividend Assets Capital LLC Sells 24,211 Shares of Enbridge Inc $ENB

Dividend Assets Capital LLC cut its holdings in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 10.4% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 207,616 shares of the pipeline company’s stock after selling 24,211 shares during the quarter. Enbridge accounts for 2.2% of Dividend Assets Capital LLC’s investment portfolio, making the stock its 15th largest holding. Dividend Assets Capital LLC’s holdings in Enbridge were worth $11,240,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Exchange Traded Concepts LLC increased its position in shares of Enbridge by 3.9% during the fourth quarter. Exchange Traded Concepts LLC now owns 1,121,715 shares of the pipeline company’s stock valued at $53,652,000 after acquiring an additional 41,601 shares during the last quarter. Viking Fund Management LLC grew its stake in Enbridge by 35.2% in the 4th quarter. Viking Fund Management LLC now owns 236,000 shares of the pipeline company’s stock valued at $11,288,000 after buying an additional 61,500 shares in the last quarter. Third View Private Wealth LLC bought a new stake in Enbridge during the 4th quarter valued at $3,691,000. Swiss Life Asset Management Ltd lifted its position in shares of Enbridge by 19.2% during the third quarter. Swiss Life Asset Management Ltd now owns 276,434 shares of the pipeline company’s stock worth $13,966,000 after acquiring an additional 44,524 shares in the last quarter. Finally, Vanguard Group Inc. boosted its holdings in shares of Enbridge by 2.1% in the fourth quarter. Vanguard Group Inc. now owns 100,364,993 shares of the pipeline company’s stock worth $4,802,766,000 after acquiring an additional 2,067,516 shares during the period. 54.60% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on ENB. Canadian Imperial Bank of Commerce reiterated a “neutral” rating on shares of Enbridge in a research report on Monday, May 11th. Wall Street Zen cut Enbridge from a “hold” rating to a “sell” rating in a report on Saturday, June 27th. Scotiabank reaffirmed an “outperform” rating on shares of Enbridge in a report on Monday, May 11th. Royal Bank Of Canada upped their price target on Enbridge from $76.00 to $79.00 and gave the company an “outperform” rating in a research report on Monday, May 11th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Enbridge in a report on Friday, May 22nd. Seven analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $66.50.

Enbridge Stock Performance

NYSE:ENB opened at $54.05 on Monday. The business’s 50-day moving average price is $55.32 and its two-hundred day moving average price is $52.42. Enbridge Inc has a twelve month low of $43.59 and a twelve month high of $58.45. The stock has a market cap of $118.04 billion, a P/E ratio of 25.37 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 issued its quarterly earnings results on Friday, May 8th. The pipeline company reported $0.71 earnings per share (EPS) 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 firm had revenue of $9.37 billion during the quarter, compared to the consensus estimate of $8.49 billion. During the same quarter last year, the company posted $1.03 EPS. As a group, equities analysts predict that Enbridge Inc will post 2.16 EPS for the current fiscal year.

Enbridge Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Friday, May 15th were paid a $0.97 dividend. This represents a $3.88 dividend on an annualized basis and a yield of 7.2%. The ex-dividend date of this dividend was Friday, May 15th. Enbridge’s dividend payout ratio (DPR) is currently 133.80%.

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.