Enbridge Inc $ENB Shares Sold by Triasima Portfolio Management inc.

Key Points

• Triasima Portfolio Management cut its Enbridge stake by 71.5% in the third quarter, selling 126,602 shares and retaining 50,561 shares valued at approximately $2.36 million. Institutional investors collectively own 54.6% of Enbridge.
• Analyst sentiment remains positive, with Enbridge carrying a consensus “Moderate Buy” rating and an average price target of $65.88; several firms recently upgraded the stock.
• Enbridge shares opened at $46.84, while the company reported quarterly EPS of $0.46 versus the $0.43 consensus estimate and maintains an annualized dividend of C$3.88, representing an 8.3% yield.

Triasima Portfolio Management inc. cut its stake in Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB by 71.5% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 50,561 shares of the pipeline company's stock after selling 126,602 shares during the period. Triasima Portfolio Management inc.'s holdings in Enbridge were worth $2,356,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of ENB. Arlington Trust Co LLC increased its stake in Enbridge by 114.6% during the 2nd quarter. Arlington Trust Co LLC now owns 500 shares of the pipeline company's stock valued at $27,000 after purchasing an additional 267 shares in the last quarter. GK Wealth Management LLC purchased a new position in shares of Enbridge in the third quarter worth $25,000. Quintet Private Bank Europe S.A. lifted its stake in shares of Enbridge by 100.0% during the third quarter. Quintet Private Bank Europe S.A. now owns 600 shares of the pipeline company's stock worth $28,000 after buying an additional 300 shares during the period. City Holding Co. lifted its stake in shares of Enbridge by 121.5% during the second quarter. City Holding Co. now owns 649 shares of the pipeline company's stock worth $35,000 after buying an additional 356 shares during the period. Finally, Steigerwald Gordon & Koch Inc. lifted its stake in shares of Enbridge by 99.7% during the first quarter. Steigerwald Gordon & Koch Inc. now owns 691 shares of the pipeline company's stock worth $37,000 after buying an additional 345 shares during the period. Hedge funds and other institutional investors own 54.60% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on ENB shares. National Bank Financial raised shares of Enbridge from a "sector perform" rating to an "outperform" rating in a report on Tuesday, September 15th. Wolfe Research set a $50.00 target price on Enbridge in a research note on Tuesday, August 4th. US Capital Advisors upgraded Enbridge from a "hold" rating to a "moderate buy" rating in a research note on Thursday, August 20th. Jefferies Financial Group reaffirmed a "hold" rating on shares of Enbridge in a research report on Monday, September 14th. Finally, Canadian Imperial Bank of Commerce raised Enbridge from a "neutral" rating to a "sector outperform" rating in a research report on Thursday, August 27th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Enbridge presently has a consensus rating of "Moderate Buy" and a consensus price target of $65.88.

Enbridge Price Performance

Shares of NYSE:ENB opened at $46.84 on Friday. Enbridge Inc has a twelve month low of $45.03 and a twelve month high of $58.45. The company has a current ratio of 0.72, a quick ratio of 0.66 and a debt-to-equity ratio of 1.69. The company has a market cap of $104.40 billion, a PE ratio of 25.05, a price-to-earnings-growth ratio of 5.64 and a beta of 0.60. The company's 50 day moving average is $48.89 and its 200 day moving average is $52.77.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last announced its quarterly earnings data on Friday, July 31st. The pipeline company reported $0.46 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 business had revenue of $9.70 billion during the quarter, compared to analysts' expectations of $8.67 billion. During the same period in the previous year, the business posted $0.65 EPS. On average, sell-side analysts forecast that Enbridge Inc will post 2.10 EPS for the current year.

Enbridge Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 1st. Stockholders of record on Friday, August 14th were paid a C$0.97 dividend. The ex-dividend date was Friday, August 14th. This represents a $3.88 dividend on an annualized basis and a dividend yield of 8.3%. Enbridge's dividend payout ratio is presently 147.06%.

About Enbridge

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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