JPMorgan Chase & Co. Sells 1,662,895 Shares of Enbridge Inc $ENB

JPMorgan Chase & Co. lowered its stake in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 9.8% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 15,303,764 shares of the pipeline company’s stock after selling 1,662,895 shares during the quarter. JPMorgan Chase & Co. owned 0.70% of Enbridge worth $731,979,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ENB. Brighton Jones LLC bought a new stake in Enbridge in the fourth quarter valued at approximately $261,000. AQR Capital Management LLC lifted its position in Enbridge by 68.5% in the first quarter. AQR Capital Management LLC now owns 28,533 shares of the pipeline company’s stock valued at $1,264,000 after purchasing an additional 11,599 shares during the last quarter. AXA S.A. lifted its position in Enbridge by 15.5% in the second quarter. AXA S.A. now owns 113,887 shares of the pipeline company’s stock valued at $5,161,000 after purchasing an additional 15,259 shares during the last quarter. Diversify Advisory Services LLC lifted its position in Enbridge by 93.1% in the second quarter. Diversify Advisory Services LLC now owns 22,016 shares of the pipeline company’s stock valued at $1,042,000 after purchasing an additional 10,617 shares during the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its position in Enbridge by 80.1% in the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 78,507 shares of the pipeline company’s stock valued at $3,553,000 after purchasing an additional 34,912 shares during the last quarter. Institutional investors own 54.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on ENB. Weiss Ratings reiterated a “buy (b)” rating on shares of Enbridge in a research report on Friday, May 22nd. Wall Street Zen downgraded Enbridge from a “hold” rating to a “sell” rating in a research report on Sunday, May 24th. Citigroup restated a “buy” rating on shares of Enbridge in a report on Thursday, February 19th. Royal Bank Of Canada upped their target price on Enbridge from $76.00 to $79.00 and gave the company an “outperform” rating in a report on Monday, May 11th. Finally, BMO Capital Markets restated a “market perform” rating on shares of Enbridge in a report on Tuesday, February 17th. Seven equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $66.50.

Enbridge Price Performance

Shares of ENB stock opened at $55.52 on Wednesday. The stock has a market cap of $121.23 billion, a price-to-earnings ratio of 26.07 and a beta of 0.58. The business’s fifty day moving average is $54.68 and its 200 day moving average is $51.49. Enbridge Inc has a twelve month low of $43.59 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.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings results on Friday, May 8th. The pipeline company reported $0.71 earnings per share 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 return on equity of 11.21% and a net margin of 9.83%.During the same period in the prior year, the firm earned $1.03 earnings per share. Research analysts expect that Enbridge Inc will post 2.2 EPS for the current fiscal year.

Enbridge Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Friday, May 15th were paid a $0.97 dividend. This represents a $3.88 annualized dividend and a yield of 7.0%. The ex-dividend date of this dividend was Friday, May 15th. Enbridge’s dividend payout ratio is presently 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.