Allspring Global Investments Holdings LLC lessened its position in Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB by 93.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,752 shares of the pipeline company's stock after selling 97,481 shares during the quarter. Allspring Global Investments Holdings LLC's holdings in Enbridge were worth $366,000 at the end of the most recent reporting period.
A number of other large investors have also recently made changes to their positions in ENB. Independent Financial Group LLC purchased a new position in Enbridge in the 1st quarter worth about $937,000. Wealthfront Advisers LLC increased its position in shares of Enbridge by 3.4% during the first quarter. Wealthfront Advisers LLC now owns 9,008 shares of the pipeline company's stock worth $488,000 after acquiring an additional 294 shares during the period. D.A. Davidson & CO. increased its position in shares of Enbridge by 8.4% during the first quarter. D.A. Davidson & CO. now owns 184,328 shares of the pipeline company's stock worth $9,980,000 after acquiring an additional 14,349 shares during the period. Bank of New York Mellon Corp raised its stake in shares of Enbridge by 4.9% during the first quarter. Bank of New York Mellon Corp now owns 6,782,732 shares of the pipeline company's stock valued at $367,217,000 after acquiring an additional 319,575 shares in the last quarter. Finally, Geneos Wealth Management Inc. boosted its holdings in shares of Enbridge by 0.7% in the first quarter. Geneos Wealth Management Inc. now owns 36,349 shares of the pipeline company's stock valued at $1,968,000 after purchasing an additional 258 shares during the period. 54.60% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
ENB has been the subject of a number of research analyst reports. Canadian Imperial Bank of Commerce reaffirmed a "neutral" rating on shares of Enbridge in a research report on Monday, May 11th. Royal Bank Of Canada increased their price target on Enbridge from $76.00 to $79.00 and gave the stock an "outperform" rating in a research report on Monday, May 11th. Scotiabank restated an "outperform" rating on shares of Enbridge in a research note on Tuesday, July 21st. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Enbridge in a research note on Friday, May 22nd. Finally, Wall Street Zen upgraded shares of Enbridge from a "sell" rating to a "hold" rating in a report on Sunday, July 12th. Six research analysts have rated the stock with a Buy rating and six have issued 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.
View Our Latest Stock Analysis on ENB
Enbridge Trading Down 0.2%
Shares of NYSE ENB opened at $55.14 on Thursday. Enbridge Inc has a 1-year low of $44.80 and a 1-year high of $58.45. The business has a fifty day moving average price of $55.64 and a 200 day moving average price of $53.50. The stock has a market capitalization of $120.43 billion, a P/E ratio of 25.89 and a beta of 0.58. The company has a debt-to-equity ratio of 1.69, a current ratio of 0.81 and a quick ratio of 0.73.
Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last released its quarterly earnings results on Friday, May 8th. The pipeline company reported $0.71 earnings per share for the quarter, beating analysts' consensus estimates of $0.69 by $0.02. The business had revenue of $9.37 billion for the quarter, compared to analysts' expectations of $8.49 billion. Enbridge had a net margin of 9.83% and a return on equity of 11.21%. During the same period last year, the business earned $1.03 EPS. Equities research analysts expect that Enbridge Inc will post 2.13 EPS for the current fiscal year.
Enbridge Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Friday, August 14th will be issued a $0.97 dividend. The ex-dividend date of this dividend is Friday, August 14th. This represents a $3.88 dividend on an annualized basis and a dividend yield of 7.0%. Enbridge's dividend payout ratio is currently 133.80%.
Enbridge Profile
(
Free Report)
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.
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