Enbridge Inc (NYSE:ENB) Shares Sold by Barings LLC

Key Points

• Barings LLC reduced its holdings in Enbridge Inc by 8.1% during the 1st quarter, now owning 277,354 shares worth $12.27 million.
• Multiple analysts have recently rated Enbridge, with a consensus rating of "Moderate Buy" and an average price target of $67.00.
• Enbridge announced an increase in its quarterly dividend to $0.6839 per share, reflecting a dividend yield of 5.9% compared to its previous quarterly dividend.

Barings LLC lessened its holdings in Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB by 8.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 277,354 shares of the pipeline company's stock after selling 24,601 shares during the quarter. Barings LLC's holdings in Enbridge were worth $12,277,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of ENB. Capital Investment Counsel Inc lifted its holdings in Enbridge by 3.1% in the first quarter. Capital Investment Counsel Inc now owns 7,527 shares of the pipeline company's stock valued at $333,000 after acquiring an additional 223 shares during the period. Bay Colony Advisory Group Inc d b a Bay Colony Advisors grew its stake in shares of Enbridge by 0.7% during the 1st quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 34,326 shares of the pipeline company's stock worth $1,526,000 after purchasing an additional 226 shares during the period. Loudon Investment Management LLC increased its holdings in shares of Enbridge by 1.1% during the 1st quarter. Loudon Investment Management LLC now owns 21,201 shares of the pipeline company's stock valued at $939,000 after purchasing an additional 240 shares in the last quarter. Sound View Wealth Advisors Group LLC lifted its stake in shares of Enbridge by 4.8% in the 1st quarter. Sound View Wealth Advisors Group LLC now owns 5,304 shares of the pipeline company's stock valued at $235,000 after purchasing an additional 243 shares during the period. Finally, Hardin Capital Partners LLC boosted its holdings in Enbridge by 2.7% during the first quarter. Hardin Capital Partners LLC now owns 9,553 shares of the pipeline company's stock worth $423,000 after buying an additional 252 shares in the last quarter. 54.60% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts recently commented on ENB shares. Royal Bank Of Canada restated an "outperform" rating and set a $67.00 price target on shares of Enbridge in a research report on Monday, May 12th. Raymond James Financial upgraded Enbridge to a "moderate buy" rating in a research report on Wednesday, April 23rd. Jefferies Financial Group raised Enbridge from a "hold" rating to a "buy" rating in a report on Wednesday, July 23rd. National Bankshares restated a "sector perform" rating on shares of Enbridge in a research report on Monday, May 12th. Finally, BMO Capital Markets reiterated a "market perform" rating on shares of Enbridge in a research report on Monday, May 12th. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $67.00.

Enbridge Trading Up 2.0%

ENB stock opened at $46.18 on Friday. Enbridge Inc has a 12-month low of $36.50 and a 12-month high of $47.44. The business's 50-day moving average is $45.39 and its 200 day moving average is $44.55. The company has a current ratio of 0.73, a quick ratio of 0.66 and a debt-to-equity ratio of 1.51. The stock has a market cap of $100.69 billion, a price-to-earnings ratio of 23.80, a PEG ratio of 4.22 and a beta of 0.79.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last issued its quarterly earnings results on Friday, May 9th. The pipeline company reported $0.72 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.68 by $0.04. Enbridge had a return on equity of 10.41% and a net margin of 10.16%. The firm had revenue of $7.27 billion for the quarter, compared to analyst estimates of $10.20 billion. During the same period in the previous year, the company posted $0.92 earnings per share. On average, sell-side analysts anticipate that Enbridge Inc will post 2.14 EPS for the current fiscal year.

Enbridge Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 1st. Stockholders of record on Friday, August 15th will be issued a dividend of $0.6839 per share. The ex-dividend date of this dividend is Friday, August 15th. This is a positive change from Enbridge's previous quarterly dividend of $0.68. This represents a $2.74 dividend on an annualized basis and a dividend yield of 5.9%. Enbridge's payout ratio is currently 140.21%.

About Enbridge

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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