Tevis Investment Management Sells 53,610 Shares of Enbridge Inc $ENB

Key Points

• Tevis Investment Management sharply reduced its Enbridge stake in Q1, selling 53,610 shares and cutting its position by 89.2% to 6,511 shares worth about $353,000.
• Analyst sentiment remains generally positive, with Enbridge carrying a Moderate Buy consensus and an average price target of $66.50 after several firms reiterated or adjusted ratings.
• Enbridge reported quarterly earnings of $0.71 per share, topping estimates, and continues to pay a high dividend: $0.97 per share quarterly, or $3.88 annualized, for a 7.1% yield.

Tevis Investment Management cut its position in Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB by 89.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,511 shares of the pipeline company's stock after selling 53,610 shares during the quarter. Tevis Investment Management's holdings in Enbridge were worth $353,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently bought and sold shares of the company. Triumph Capital Management bought a new position in shares of Enbridge in the third quarter worth $26,000. Turning Point Benefit Group Inc. bought a new stake in Enbridge during the third quarter valued at $28,000. Inspire Investing LLC purchased a new position in Enbridge during the fourth quarter worth about $29,000. Imprint Wealth LLC purchased a new position in Enbridge during the third quarter worth about $31,000. Finally, Garner Asset Management Corp bought a new position in Enbridge in the 4th quarter worth about $30,000. 54.60% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have weighed in on the company. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Enbridge in a report on Friday, May 22nd. Royal Bank Of Canada boosted their price objective on Enbridge from $76.00 to $79.00 and gave the stock an "outperform" rating in a report on Monday, May 11th. Canadian Imperial Bank of Commerce restated a "neutral" rating on shares of Enbridge in a research report on Monday, May 11th. Scotiabank reaffirmed an "outperform" rating on shares of Enbridge in a research note on Monday, May 11th. Finally, Wall Street Zen raised shares of Enbridge from a "sell" rating to a "hold" rating in a research note on Sunday. Seven research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. Based on data from MarketBeat, Enbridge has an average rating of "Moderate Buy" and an average price target of $66.50.

Enbridge Trading Down 0.0%

NYSE ENB opened at $54.64 on Monday. The stock's 50-day simple moving average is $55.48 and its two-hundred day simple moving average is $52.69. Enbridge Inc has a twelve month low of $44.13 and a twelve month high of $58.45. The company has a quick ratio of 0.73, a current ratio of 0.81 and a debt-to-equity ratio of 1.69. The company has a market capitalization of $119.34 billion, a price-to-earnings ratio of 25.65 and a beta of 0.58.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last issued its quarterly earnings results on Friday, May 8th. The pipeline company reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.02. Enbridge had a return on equity of 11.21% and a net margin of 9.83%.The firm had revenue of $9.37 billion during the quarter, compared to analyst estimates of $8.49 billion. During the same quarter in the previous year, the company posted $1.03 earnings per share. Research analysts forecast that Enbridge Inc will post 2.15 EPS for the current fiscal year.

Enbridge Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Friday, May 15th were paid a $0.97 dividend. The ex-dividend date of this dividend was Friday, May 15th. This represents a $3.88 annualized dividend and a yield of 7.1%. Enbridge's dividend payout ratio is currently 133.80%.

Enbridge Profile

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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