Enbridge Inc $ENB Shares Sold by Van Lanschot Kempen Investment Management N.V.

Key Points

• Van Lanschot Kempen Investment Management N.V. has significantly reduced its stake in Enbridge Inc, selling 11,210 shares and retaining only 2,871 shares, representing a 79.6% decrease in holdings.
• Enbridge Inc recently reported earnings of $0.47 per share, exceeding analysts' predictions, although its revenue for the quarter fell short of expectations at $7.14 billion.
• The company has increased its quarterly dividend to $0.6839, resulting in an annualized yield of 5.7%, despite a high payout ratio of 134.98%.

Van Lanschot Kempen Investment Management N.V. trimmed its holdings in Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB by 79.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,871 shares of the pipeline company's stock after selling 11,210 shares during the quarter. Van Lanschot Kempen Investment Management N.V.'s holdings in Enbridge were worth $127,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Dagco Inc. purchased a new stake in shares of Enbridge in the first quarter worth approximately $25,000. Garde Capital Inc. bought a new position in Enbridge in the first quarter worth approximately $26,000. Financial Gravity Asset Management Inc. bought a new position in Enbridge in the first quarter worth approximately $28,000. Accent Capital Management LLC bought a new position in Enbridge in the first quarter worth approximately $30,000. Finally, GeoWealth Management LLC grew its stake in Enbridge by 436.4% in the fourth quarter. GeoWealth Management LLC now owns 751 shares of the pipeline company's stock worth $32,000 after purchasing an additional 611 shares in the last quarter. 54.60% of the stock is currently owned by hedge funds and other institutional investors.

Enbridge Stock Up 0.0%

ENB stock traded up $0.0050 on Friday, hitting $47.9450. 5,030,181 shares of the company's stock were exchanged, compared to its average volume of 3,850,256. Enbridge Inc has a 12-month low of $39.25 and a 12-month high of $48.29. The firm has a 50 day moving average price of $45.69 and a two-hundred day moving average price of $44.87. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.65 and a current ratio of 0.75. The stock has a market cap of $104.55 billion, a P/E ratio of 23.62, a price-to-earnings-growth ratio of 4.39 and a beta of 0.79.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last announced its earnings results on Friday, August 1st. The pipeline company reported $0.47 earnings per share 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 period in the previous year, the business earned $0.58 EPS. As a group, equities research analysts expect 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 will be paid on Monday, September 1st. Investors of record on Friday, August 15th will be paid a dividend of $0.6839 per share. This is a positive change from Enbridge's previous quarterly dividend of $0.68. The ex-dividend date is Friday, August 15th. This represents a $2.74 annualized dividend and a yield of 5.7%. Enbridge's dividend payout ratio (DPR) is presently 134.98%.

Analyst Upgrades and Downgrades

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