2,934,300 Enbridge Inc $ENB Shares Sold by Vontobel Holding Ltd.

Key Points

• Vontobel Holding cut its Enbridge position by 61.2% in the third quarter, selling 2,934,300 shares and retaining 1,863,000 shares valued at approximately $86.6 million.
• Other major institutions increased their Enbridge holdings, and institutional investors collectively own 54.6% of the company’s stock.
• Enbridge shares recently traded at $48.08, while analysts maintain a “Moderate Buy” consensus with a $65.88 average price target. The company also offers an annualized dividend of C$3.88 per share, yielding about 8.1%.

Vontobel Holding Ltd. lessened its position in Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB by 61.2% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,863,000 shares of the pipeline company's stock after selling 2,934,300 shares during the period. Vontobel Holding Ltd. owned about 0.08% of Enbridge worth $86,600,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the company. Deutsche Bank AG bought a new position in Enbridge during the 2nd quarter valued at about $1,850,502,000. Connor Clark & Lunn Investment Management Ltd. grew its stake in Enbridge by 18.4% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 20,624,547 shares of the pipeline company's stock worth $1,117,353,000 after buying an additional 3,205,322 shares during the last quarter. TD Waterhouse Canada Inc. grew its stake in Enbridge by 1.0% during the second quarter. TD Waterhouse Canada Inc. now owns 16,189,798 shares of the pipeline company's stock worth $863,952,000 after buying an additional 164,934 shares during the last quarter. Amundi grew its stake in Enbridge by 8.5% during the second quarter. Amundi now owns 11,948,497 shares of the pipeline company's stock worth $647,728,000 after buying an additional 936,435 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its holdings in shares of Enbridge by 2.5% during the second quarter. The Manufacturers Life Insurance Company now owns 11,079,469 shares of the pipeline company's stock worth $599,709,000 after buying an additional 268,800 shares in the last quarter. Institutional investors own 54.60% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on ENB. The Goldman Sachs Group initiated coverage on Enbridge in a research note on Wednesday, September 30th. They issued a "neutral" rating and a $50.00 target price for the company. Jefferies Financial Group reissued a "hold" rating on shares of Enbridge in a report on Monday, September 14th. Wolfe Research set a $50.00 price objective on shares of Enbridge in a research report on Tuesday, August 4th. Scotiabank raised shares of Enbridge to a "strong-buy" rating in a research note on Thursday, September 17th. Finally, Royal Bank Of Canada upped their target price on shares of Enbridge from $79.00 to $84.00 and gave the stock an "outperform" rating in a research report on Monday, August 3rd. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $65.88.

Enbridge Trading Up 2.7%

NYSE:ENB traded up $1.25 on Friday, hitting $48.08. 6,885,804 shares of the stock were exchanged, compared to its average volume of 4,227,302. The company has a debt-to-equity ratio of 1.69, a quick ratio of 0.66 and a current ratio of 0.72. Enbridge Inc has a 52 week low of $45.03 and a 52 week high of $58.45. The stock has a market capitalization of $107.17 billion, a price-to-earnings ratio of 25.71, a P/E/G ratio of 5.58 and a beta of 0.60. The company's 50-day moving average price is $48.82 and its 200 day moving average price is $52.73.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last issued its earnings results on Friday, July 31st. The pipeline company reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.03. Enbridge had a net margin of 7.20% and a return on equity of 11.17%. The company had revenue of $9.70 billion for the quarter, compared to analyst estimates of $8.67 billion. During the same quarter last year, the firm earned $0.65 EPS. On average, equities research analysts forecast that Enbridge Inc will post 2.10 earnings per share for the current year.

Enbridge Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 1st. Stockholders of record on Friday, August 14th were given a dividend of C$0.97 per share. This represents a $3.88 annualized dividend and a dividend yield of 8.1%. The ex-dividend date was Friday, August 14th. Enbridge's payout ratio is presently 147.06%.

Enbridge Company Profile

Enbridge Inc NYSE: ENB is a Canadian energy infrastructure company that transports and distributes oil, natural gas and renewable energy across North America. Its operations include crude oil and liquids pipelines, natural gas transmission and storage, natural gas distribution and utility services, and renewable power generation. The company serves customers and communities in Canada and the United States.

Enbridge's liquids pipeline network transports crude oil and other liquid hydrocarbons to refineries, export terminals and market hubs.

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