Epoch Investment Partners Inc. Reduces Holdings in Enbridge Inc $ENB

Key Points

• Epoch Investment Partners Inc. has reduced its holdings in Enbridge Inc by 33.7%, selling 17,595 shares during the first quarter, leaving them with 34,632 shares valued at approximately $1.54 million.
• Enbridge recently reported a quarterly earnings per share of $0.47, exceeding analysts' expectations of $0.41, although revenue for the quarter was $7.14 billion, falling short of the estimated $10.56 billion.
• The company declared a quarterly dividend of $0.6839, which will yield 5.7% annually, representing an increase from its previous dividend of $0.68.

Epoch Investment Partners Inc. trimmed its stake in Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB by 33.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 34,632 shares of the pipeline company's stock after selling 17,595 shares during the period. Epoch Investment Partners Inc.'s holdings in Enbridge were worth $1,535,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of ENB. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Enbridge by 6.1% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 438,557 shares of the pipeline company's stock worth $19,431,000 after acquiring an additional 25,071 shares during the period. Hartline Investment Corp grew its holdings in shares of Enbridge by 31.3% during the first quarter. Hartline Investment Corp now owns 36,098 shares of the pipeline company's stock worth $1,600,000 after buying an additional 8,610 shares in the last quarter. Wellington Management Group LLP grew its holdings in shares of Enbridge by 0.7% during the fourth quarter. Wellington Management Group LLP now owns 1,150,521 shares of the pipeline company's stock worth $48,806,000 after buying an additional 7,890 shares in the last quarter. JBR Co Financial Management Inc purchased a new stake in Enbridge in the first quarter valued at approximately $330,000. Finally, Raymond James Financial Inc. grew its holdings in Enbridge by 0.8% in the first quarter. Raymond James Financial Inc. now owns 4,299,977 shares of the pipeline company's stock valued at $190,532,000 after purchasing an additional 35,515 shares during the period. 54.60% of the stock is owned by hedge funds and other institutional investors.

Enbridge Stock Performance

Shares of ENB opened at $47.63 on Thursday. The firm has a 50-day moving average price of $45.80 and a 200 day moving average price of $44.93. The firm has a market capitalization of $103.86 billion, a PE ratio of 23.46, a P/E/G ratio of 4.34 and a beta of 0.79. The company has a quick ratio of 0.65, a current ratio of 0.75 and a debt-to-equity ratio of 1.58. Enbridge Inc has a 52-week low of $39.26 and a 52-week high of $48.29.

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

Enbridge Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 1st. Stockholders of record on Friday, August 15th will be given a $0.6839 dividend. This represents a $2.74 dividend on an annualized basis and a dividend yield of 5.7%. This is a positive change from Enbridge's previous quarterly dividend of $0.68. The ex-dividend date of this dividend is Friday, August 15th. Enbridge's payout ratio is currently 134.98%.

Analyst Ratings Changes

Several research firms have issued reports on ENB. Argus boosted their price objective on shares of Enbridge from $50.00 to $54.00 and gave the stock a "buy" rating in a research note on Tuesday, August 12th. Jefferies Financial Group raised shares of Enbridge from a "hold" rating to a "buy" rating in a report on Wednesday, July 23rd. National Bankshares reaffirmed a "sector perform" rating on shares of Enbridge in a report on Tuesday, August 5th. Zacks Research raised shares of Enbridge from a "hold" rating to a "strong-buy" rating in a report on Friday, August 15th. Finally, Wall Street Zen raised shares of Enbridge from a "sell" rating to a "hold" rating in a report on Thursday, May 22nd. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $60.50.

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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