Enbridge Inc $ENB Shares Sold by Greenleaf Trust

Key Points

• Greenleaf Trust significantly reduced its position in Enbridge Inc by 54%, now holding 10,063 shares, after selling 11,813 shares in the second quarter.
• Enbridge recently reported $0.47 earnings per share, exceeding analyst estimates of $0.41, with revenue of $7.14 billion for the quarter.
• The company announced a quarterly dividend of $0.6839, marking an increase from the previous quarter, and has a current dividend yield of 5.5%.

Greenleaf Trust reduced its position in Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB by 54.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,063 shares of the pipeline company's stock after selling 11,813 shares during the quarter. Greenleaf Trust's holdings in Enbridge were worth $456,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. grew its position in shares of Enbridge by 1.7% during the first quarter. Vanguard Group Inc. now owns 93,187,025 shares of the pipeline company's stock worth $4,124,271,000 after buying an additional 1,569,879 shares in the last quarter. GQG Partners LLC lifted its stake in Enbridge by 1.5% during the first quarter. GQG Partners LLC now owns 75,439,320 shares of the pipeline company's stock worth $3,338,405,000 after purchasing an additional 1,148,580 shares during the last quarter. TD Asset Management Inc lifted its stake in Enbridge by 1.3% during the first quarter. TD Asset Management Inc now owns 39,265,817 shares of the pipeline company's stock worth $1,737,602,000 after purchasing an additional 513,058 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in Enbridge by 137.9% during the first quarter. Goldman Sachs Group Inc. now owns 32,907,433 shares of the pipeline company's stock worth $1,458,128,000 after purchasing an additional 19,074,827 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in Enbridge by 10.5% during the first quarter. JPMorgan Chase & Co. now owns 17,643,681 shares of the pipeline company's stock worth $781,792,000 after purchasing an additional 1,680,116 shares during the last quarter. 54.60% of the stock is owned by institutional investors and hedge funds.

Enbridge Trading Up 0.8%

Shares of ENB stock opened at $50.11 on Friday. The business's fifty day moving average price is $48.06 and its 200 day moving average price is $46.09. Enbridge Inc has a 1-year low of $39.73 and a 1-year high of $50.54. The firm has a market capitalization of $109.27 billion, a PE ratio of 24.68, a P/E/G ratio of 4.55 and a beta of 0.78. The company has a debt-to-equity ratio of 1.58, a current ratio of 0.75 and a quick ratio of 0.65.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last announced its quarterly earnings data on Friday, August 1st. The pipeline company reported $0.47 earnings per share for the quarter, topping analysts' consensus estimates of $0.41 by $0.06. Enbridge had a return on equity of 10.77% and a net margin of 10.11%.The firm had revenue of $7.14 billion for the quarter, compared to analyst estimates of $10.56 billion. During the same quarter in the prior year, the company posted $0.58 earnings per share. As a group, sell-side analysts forecast that Enbridge Inc will post 2.14 EPS for the current fiscal year.

Enbridge Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 1st. Shareholders of record on Friday, August 15th were issued a $0.6839 dividend. This represents a $2.74 annualized dividend and a yield of 5.5%. This is a positive change from Enbridge's previous quarterly dividend of $0.68. The ex-dividend date of this dividend was Friday, August 15th. Enbridge's dividend payout ratio is currently 134.98%.

Analysts Set New Price Targets

ENB has been the subject of several recent analyst reports. Wall Street Zen cut Enbridge from a "hold" rating to a "sell" rating in a research note on Sunday, September 21st. National Bankshares restated a "sector perform" rating on shares of Enbridge in a research note on Tuesday, August 5th. Weiss Ratings restated a "buy (b)" rating on shares of Enbridge in a research note on Saturday, September 27th. Jefferies Financial Group upgraded Enbridge from a "hold" rating to a "buy" rating in a research note on Wednesday, July 23rd. Finally, Argus upped their price target on Enbridge from $50.00 to $54.00 and gave the stock a "buy" rating in a research note on Tuesday, August 12th. Seven analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $60.50.

Enbridge Company Profile

Enbridge Inc, together with its subsidiaries, operates as an energy infrastructure company. The company operates through five segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution and Storage, Renewable Power Generation, and Energy Services. The Liquids Pipelines segment operates pipelines and related terminals to transport various grades of crude oil and other liquid hydrocarbons in Canada and the United States.

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