Sanctuary Advisors LLC Has $8.17 Million Stock Position in Enbridge Inc $ENB

Key Points

• Sanctuary Advisors LLC cut its Enbridge stake by 22.3% in the first quarter, though it still held 151,111 shares worth about $8.17 million as of its latest filing.
• Enbridge reported better-than-expected quarterly results, with EPS of $0.71 versus estimates of $0.69 and revenue of $9.37 billion versus expectations of $8.49 billion.
• The company recently paid a quarterly dividend of $0.97 per share, annualizing to $3.88 and a 6.8% yield, while analysts currently maintain a Moderate Buy consensus with a $66.50 price target.

Sanctuary Advisors LLC lowered its stake in shares of Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB by 22.3% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 151,111 shares of the pipeline company's stock after selling 43,253 shares during the quarter. Sanctuary Advisors LLC's holdings in Enbridge were worth $8,170,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC acquired a new stake in shares of Enbridge in the fourth quarter valued at approximately $261,000. AQR Capital Management LLC boosted its position in Enbridge by 68.5% in the 1st quarter. AQR Capital Management LLC now owns 28,533 shares of the pipeline company's stock valued at $1,264,000 after buying an additional 11,599 shares during the last quarter. AXA S.A. increased its stake in shares of Enbridge by 15.5% in the 2nd quarter. AXA S.A. now owns 113,887 shares of the pipeline company's stock valued at $5,161,000 after buying an additional 15,259 shares during the period. Diversify Advisory Services LLC increased its stake in shares of Enbridge by 93.1% in the 2nd quarter. Diversify Advisory Services LLC now owns 22,016 shares of the pipeline company's stock valued at $1,042,000 after buying an additional 10,617 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its stake in shares of Enbridge by 80.1% during the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 78,507 shares of the pipeline company's stock valued at $3,553,000 after acquiring an additional 34,912 shares during the period. Institutional investors and hedge funds own 54.60% of the company's stock.

Enbridge Trading Up 0.4%

NYSE ENB opened at $56.68 on Friday. Enbridge Inc has a 12 month low of $44.53 and a 12 month high of $58.45. The stock has a 50-day simple moving average of $55.64 and a 200 day simple moving average of $52.96. The company has a current ratio of 0.81, a quick ratio of 0.73 and a debt-to-equity ratio of 1.69. The company has a market capitalization of $123.79 billion, a PE ratio of 26.61 and a beta of 0.58.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last issued its earnings results on Friday, May 8th. The pipeline company reported $0.71 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.69 by $0.02. The firm had revenue of $9.37 billion for the quarter, compared to analysts' expectations of $8.49 billion. Enbridge had a return on equity of 11.21% and a net margin of 9.83%.During the same quarter last year, the business earned $1.03 earnings per share. Research analysts forecast that Enbridge Inc will post 2.14 EPS for the current year.

Enbridge Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Friday, May 15th were paid a dividend of $0.97 per share. The ex-dividend date of this dividend was Friday, May 15th. This represents a $3.88 annualized dividend and a yield of 6.8%. Enbridge's dividend payout ratio (DPR) is presently 133.80%.

Wall Street Analysts Forecast Growth

ENB has been the topic of several recent research reports. Canadian Imperial Bank of Commerce reiterated a "neutral" rating on shares of Enbridge in a report on Monday, May 11th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Enbridge in a research note on Friday, May 22nd. Scotiabank reiterated an "outperform" rating on shares of Enbridge in a research report on Monday, May 11th. TD Securities restated a "hold" rating on shares of Enbridge in a report on Thursday. Finally, Wall Street Zen raised shares of Enbridge from a "sell" rating to a "hold" rating in a research note on Sunday, July 12th. Seven analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $66.50.

About Enbridge

Enbridge Inc is a Calgary, Alberta–based energy infrastructure company that develops, owns and operates a diversified portfolio of energy transportation, distribution and generation assets. Its core activities include the operation of crude oil and liquids pipelines, natural gas transmission and distribution systems, and energy storage facilities. In addition to midstream transportation and storage, Enbridge has expanded into renewable power generation and energy transition projects, including wind, solar and utility-scale generation assets.

The company serves customers primarily in Canada and the United States and has interests in other international energy projects.

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