Enbridge Inc $ENB Shares Sold by Venture Visionary Partners LLC

Key Points

• Venture Visionary Partners LLC reduced its stake in Enbridge Inc by 50.7%, holding 8,745 shares valued at $387,000 after selling 8,983 shares in the first quarter.
• Enbridge announced a quarterly dividend increase to $0.6839, offering an annualized dividend yield of 5.7% while maintaining a dividend payout ratio of 134.98%.
• The company reported $0.47 EPS in its latest quarterly earnings, exceeding analysts' estimates of $0.41, but fell short on revenue expectations, generating $7.14 billion against a forecast of $10.56 billion.

Venture Visionary Partners LLC lessened its stake in Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB by 50.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 8,745 shares of the pipeline company's stock after selling 8,983 shares during the quarter. Venture Visionary Partners LLC's holdings in Enbridge were worth $387,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in ENB. Brighton Jones LLC acquired a new stake in shares of Enbridge in the fourth quarter valued at approximately $261,000. GeoWealth Management LLC increased its holdings in shares of Enbridge by 436.4% in the fourth quarter. GeoWealth Management LLC now owns 751 shares of the pipeline company's stock valued at $32,000 after purchasing an additional 611 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Enbridge by 5.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,743,401 shares of the pipeline company's stock worth $116,400,000 after acquiring an additional 131,272 shares during the period. MGO One Seven LLC grew its position in Enbridge by 37.9% in the fourth quarter. MGO One Seven LLC now owns 52,532 shares of the pipeline company's stock worth $2,229,000 after acquiring an additional 14,450 shares during the period. Finally, Syon Capital LLC grew its position in Enbridge by 83.5% in the fourth quarter. Syon Capital LLC now owns 10,301 shares of the pipeline company's stock worth $437,000 after acquiring an additional 4,687 shares during the period. Institutional investors and hedge funds own 54.60% of the company's stock.

Analyst Ratings Changes

Several brokerages recently weighed in on ENB. Zacks Research upgraded Enbridge from a "hold" rating to a "strong-buy" rating in a research report on Friday, August 15th. Jefferies Financial Group upgraded Enbridge from a "hold" rating to a "buy" rating in a research report on Wednesday, July 23rd. BMO Capital Markets reiterated a "market perform" rating on shares of Enbridge in a research report on Monday, May 12th. National Bankshares reiterated a "sector perform" rating on shares of Enbridge in a research report on Tuesday, August 5th. Finally, Argus increased their price objective on Enbridge from $50.00 to $54.00 and gave the stock a "buy" rating in a research report on Tuesday, August 12th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat, Enbridge presently has an average rating of "Moderate Buy" and an average target price of $60.50.

Enbridge Trading Down 0.7%

Shares of ENB traded down $0.35 during midday trading on Monday, hitting $47.62. 4,695,314 shares of the stock were exchanged, compared to its average volume of 4,021,040. Enbridge Inc has a 52-week low of $39.26 and a 52-week high of $48.29. The stock has a fifty day simple moving average of $45.69 and a 200 day simple moving average of $44.87. The firm has a market cap of $103.84 billion, a P/E ratio of 23.46, a P/E/G ratio of 4.39 and a beta of 0.79. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.65 and a current ratio of 0.75.

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

Enbridge Increases Dividend

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

Enbridge Profile

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.