Russell Investments Group Ltd. Cuts Stake in Enbridge Inc (NYSE:ENB)

Key Points

• Russell Investments Group Ltd. reduced its stake in Enbridge Inc by 19.0% during the first quarter, now holding 2,957,322 shares valued at approximately $130.90 million.
• Enbridge recently increased its quarterly dividend to $0.6839 per share, marking a yield of 5.8% and an annualized dividend of $2.74.
• The company's latest earnings report revealed an EPS of $0.47, surpassing analysts' expectations and showing a decline from last year's EPS of $0.58.

Russell Investments Group Ltd. decreased its holdings in shares of Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB by 19.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,957,322 shares of the pipeline company's stock after selling 693,139 shares during the quarter. Russell Investments Group Ltd. owned 0.14% of Enbridge worth $130,897,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of ENB. Capital Investment Counsel Inc grew its stake in shares of Enbridge by 3.1% in the first quarter. Capital Investment Counsel Inc now owns 7,527 shares of the pipeline company's stock worth $333,000 after acquiring an additional 223 shares during the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors grew its stake in shares of Enbridge by 0.7% in the first 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 acquiring an additional 226 shares during the last quarter. Loudon Investment Management LLC grew its stake in shares of Enbridge by 1.1% in the first quarter. Loudon Investment Management LLC now owns 21,201 shares of the pipeline company's stock worth $939,000 after acquiring an additional 240 shares during the last quarter. Sound View Wealth Advisors Group LLC grew its stake in shares of Enbridge by 4.8% in the first quarter. Sound View Wealth Advisors Group LLC now owns 5,304 shares of the pipeline company's stock worth $235,000 after acquiring an additional 243 shares during the last quarter. Finally, Hardin Capital Partners LLC grew its stake in shares of Enbridge by 2.7% in the first quarter. Hardin Capital Partners LLC now owns 9,553 shares of the pipeline company's stock worth $423,000 after acquiring an additional 252 shares during the last quarter. Hedge funds and other institutional investors own 54.60% of the company's stock.

Enbridge Stock Performance

ENB stock traded up $0.53 during trading on Thursday, reaching $48.21. The stock had a trading volume of 3,567,972 shares, compared to its average volume of 4,022,381. Enbridge Inc has a 52 week low of $38.44 and a 52 week high of $48.21. The stock's 50 day moving average is $45.51 and its two-hundred day moving average is $44.69. The company has a current ratio of 0.75, a quick ratio of 0.65 and a debt-to-equity ratio of 1.58. The firm has a market cap of $105.11 billion, a PE ratio of 23.75, a PEG ratio of 4.35 and a beta of 0.79.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last posted its quarterly earnings data on Friday, August 1st. The pipeline company reported $0.47 EPS for the quarter, topping the consensus estimate 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 the consensus estimate of $10.56 billion. During the same quarter last year, the company earned $0.58 earnings per share. As a group, equities analysts anticipate that Enbridge Inc will post 2.14 earnings per share for the current year.

Enbridge Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 1st. Investors of record on Friday, August 15th will be given a dividend of $0.6839 per share. This is an increase from Enbridge's previous quarterly dividend of $0.68. This represents a $2.74 annualized dividend and a dividend yield of 5.7%. The ex-dividend date is Friday, August 15th. Enbridge's dividend payout ratio (DPR) is 134.98%.

Analyst Ratings Changes

ENB has been the topic of a number of recent research reports. Raymond James Financial raised Enbridge to a "moderate buy" rating in a research note on Wednesday, April 23rd. Wall Street Zen raised Enbridge from a "sell" rating to a "hold" rating in a research report on Thursday, May 22nd. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $67.00 price objective on shares of Enbridge in a research report on Monday, May 12th. Argus raised Enbridge from a "buy" rating to a "strong-buy" rating and increased their price objective for the company from $50.00 to $54.00 in a research report on Tuesday. Finally, National Bankshares reaffirmed a "sector perform" rating on shares of Enbridge in a research report on Tuesday, August 5th. Five analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Enbridge presently has a consensus rating of "Moderate Buy" and a consensus 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.