Envestnet Portfolio Solutions Inc. decreased its stake in Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB by 7.1% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 145,528 shares of the pipeline company's stock after selling 11,079 shares during the quarter. Envestnet Portfolio Solutions Inc.'s holdings in Enbridge were worth $6,444,000 as of its most recent SEC filing.
A number of other hedge funds have also recently modified their holdings of the stock. Norges Bank acquired a new position in Enbridge in the fourth quarter valued at approximately $909,415,000. Arrowstreet Capital Limited Partnership lifted its stake in shares of Enbridge by 396.7% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 12,047,004 shares of the pipeline company's stock valued at $510,816,000 after purchasing an additional 9,621,425 shares during the period. Blackstone Inc. lifted its stake in shares of Enbridge by 650.7% in the 4th quarter. Blackstone Inc. now owns 5,718,089 shares of the pipeline company's stock valued at $242,619,000 after purchasing an additional 4,956,379 shares during the period. Deutsche Bank AG boosted its holdings in Enbridge by 13.9% during the fourth quarter. Deutsche Bank AG now owns 36,336,212 shares of the pipeline company's stock worth $1,541,745,000 after buying an additional 4,426,684 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in Enbridge during the fourth quarter valued at $180,941,000. Hedge funds and other institutional investors own 54.60% of the company's stock.
Wall Street Analysts Forecast Growth
ENB has been the subject of a number of analyst reports. BMO Capital Markets reiterated a "market perform" rating on shares of Enbridge in a research report on Monday, May 12th. Citigroup assumed coverage on Enbridge in a report on Friday, April 4th. They issued a "buy" rating for the company. Royal Bank Of Canada reiterated 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. Finally, Wall Street Zen raised Enbridge from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd. Six equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $67.00.
View Our Latest Stock Report on Enbridge
Enbridge Trading Down 0.6%
ENB stock opened at $44.71 on Friday. Enbridge Inc has a 12-month low of $34.61 and a 12-month high of $47.44. The business's 50-day moving average is $45.80 and its 200 day moving average is $44.05. 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 $97.47 billion, a price-to-earnings ratio of 23.04, a PEG ratio of 4.24 and a beta of 0.81.
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 was paid on Sunday, June 1st. Stockholders of record on Thursday, May 15th were given a $0.679 dividend. This represents a $2.72 dividend on an annualized basis and a dividend yield of 6.08%. This is a boost from Enbridge's previous quarterly dividend of $0.67. The ex-dividend date was Thursday, May 15th. Enbridge's dividend payout ratio is 139.69%.
About Enbridge
(
Free Report)
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.
See Also
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