Enbridge Inc $ENB Stock Position Trimmed by Clearbridge Investments LLC

Clearbridge Investments LLC cut its position in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 28.6% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 15,450,315 shares of the pipeline company’s stock after selling 6,177,974 shares during the quarter. Clearbridge Investments LLC’s holdings in Enbridge were worth $738,989,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of ENB. Triumph Capital Management bought a new stake in Enbridge in the 3rd quarter valued at about $26,000. Turning Point Benefit Group Inc. bought a new stake in Enbridge in the 3rd quarter valued at about $28,000. Garner Asset Management Corp bought a new stake in shares of Enbridge during the 4th quarter worth about $30,000. Imprint Wealth LLC bought a new stake in shares of Enbridge during the 3rd quarter worth about $31,000. Finally, Tucker Asset Management LLC bought a new stake in shares of Enbridge during the 4th quarter worth about $38,000. 54.60% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have commented on ENB. Weiss Ratings restated a “buy (b)” rating on shares of Enbridge in a research report on Friday, May 22nd. Raymond James Financial upgraded shares of Enbridge to a “moderate buy” rating in a research report on Tuesday, February 17th. Royal Bank Of Canada boosted their price target on shares of Enbridge from $76.00 to $79.00 and gave the stock an “outperform” rating in a research report on Monday, May 11th. Scotiabank restated an “outperform” rating on shares of Enbridge in a research report on Monday, May 11th. Finally, BMO Capital Markets restated a “market perform” rating on shares of Enbridge in a research report on Tuesday, February 17th. Seven research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $66.50.

Enbridge Stock Performance

Shares of ENB opened at $56.34 on Friday. The firm’s 50 day moving average is $54.65 and its 200-day moving average is $51.37. The stock has a market capitalization of $123.04 billion, a P/E ratio of 26.45 and a beta of 0.58. The company has a debt-to-equity ratio of 1.69, a current ratio of 0.81 and a quick ratio of 0.73. Enbridge Inc has a 12-month low of $43.59 and a 12-month high of $58.45.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings data 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. The company had revenue of $9.37 billion for the quarter, compared to analysts’ expectations of $8.49 billion. Enbridge had a net margin of 9.83% and a return on equity of 11.21%. During the same quarter in the previous year, the company posted $1.03 EPS. Equities research analysts anticipate that Enbridge Inc will post 2.2 EPS for the current fiscal year.

Enbridge Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Stockholders 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 dividend yield of 6.9%. Enbridge’s 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.