Enbridge Inc $ENB Shares Sold by Guinness Asset Management LTD

Guinness Asset Management LTD cut its stake in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 9.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 187,398 shares of the pipeline company’s stock after selling 20,473 shares during the period. Guinness Asset Management LTD’s holdings in Enbridge were worth $8,469,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Goldman Sachs Group Inc. raised its holdings in Enbridge by 137.9% in the first quarter. Goldman Sachs Group Inc. now owns 32,907,433 shares of the pipeline company’s stock valued at $1,458,128,000 after acquiring an additional 19,074,827 shares in the last quarter. Nuveen LLC acquired a new position in Enbridge during the 1st quarter worth approximately $208,490,000. Canada Pension Plan Investment Board increased its position in shares of Enbridge by 39.7% in the 1st quarter. Canada Pension Plan Investment Board now owns 9,525,987 shares of the pipeline company’s stock valued at $421,675,000 after purchasing an additional 2,707,068 shares during the last quarter. Maple Brown Abbott Ltd purchased a new stake in shares of Enbridge in the 1st quarter valued at approximately $77,976,000. Finally, JPMorgan Chase & Co. raised its holdings in shares of Enbridge by 10.5% in the 1st quarter. JPMorgan Chase & Co. now owns 17,643,681 shares of the pipeline company’s stock valued at $781,792,000 after purchasing an additional 1,680,116 shares in the last quarter. 54.60% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently commented on ENB shares. CIBC downgraded shares of Enbridge from an “outperform” rating to a “neutral” rating in a research note on Thursday, October 9th. Cibc World Mkts downgraded Enbridge from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 9th. Scotiabank reaffirmed a “sector perform” rating on shares of Enbridge in a research report on Monday, October 20th. Weiss Ratings reiterated a “buy (b)” rating on shares of Enbridge in a report on Wednesday, October 8th. Finally, National Bankshares reissued a “sector perform” rating on shares of Enbridge in a research report on Tuesday, August 5th. Six research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $60.50.

Enbridge Stock Performance

Shares of ENB stock opened at $46.90 on Monday. The stock’s 50-day moving average is $48.44 and its two-hundred day moving average is $46.56. 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 Inc has a 1 year low of $39.73 and a 1 year high of $50.54. The firm has a market cap of $102.27 billion, a price-to-earnings ratio of 23.10, a PEG ratio of 4.32 and a beta of 0.78.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its earnings results on Friday, August 1st. The pipeline company reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.06. The business had revenue of $7.14 billion during the quarter, compared to the consensus estimate of $10.56 billion. Enbridge had a return on equity of 10.77% and a net margin of 10.11%.During the same period in the previous year, the business earned $0.58 EPS. Analysts predict that Enbridge Inc will post 2.14 earnings per share for the current year.

Enbridge Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 1st. Shareholders of record on Friday, August 15th were paid a $0.6839 dividend. This is an increase from Enbridge’s previous quarterly dividend of $0.68. This represents a $2.74 dividend on an annualized basis and a yield of 5.8%. The ex-dividend date was Friday, August 15th. Enbridge’s dividend payout ratio (DPR) is presently 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.