Integrated Advisors Network LLC Lowers Stock Position in Enbridge Inc $ENB

Integrated Advisors Network LLC reduced its position in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 75.8% during the first quarter, Holdings Channel reports. The firm owned 12,424 shares of the pipeline company’s stock after selling 38,830 shares during the period. Integrated Advisors Network LLC’s holdings in Enbridge were worth $673,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in Enbridge by 2.1% in the 4th quarter. Vanguard Group Inc. now owns 100,364,993 shares of the pipeline company’s stock valued at $4,802,766,000 after buying an additional 2,067,516 shares during the last quarter. Norges Bank purchased a new position in shares of Enbridge in the 4th quarter worth approximately $1,195,559,000. Geode Capital Management LLC boosted its stake in shares of Enbridge by 7.1% in the 4th quarter. Geode Capital Management LLC now owns 21,421,826 shares of the pipeline company’s stock worth $1,045,172,000 after buying an additional 1,415,995 shares during the last quarter. Legal & General Group Plc grew its holdings in shares of Enbridge by 4.6% in the fourth quarter. Legal & General Group Plc now owns 19,677,864 shares of the pipeline company’s stock valued at $942,806,000 after acquiring an additional 858,323 shares in the last quarter. Finally, Mackenzie Financial Corp grew its holdings in shares of Enbridge by 4.9% in the fourth quarter. Mackenzie Financial Corp now owns 18,163,267 shares of the pipeline company’s stock valued at $870,577,000 after acquiring an additional 844,594 shares in the last quarter. 54.60% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently commented on ENB shares. Canadian Imperial Bank of Commerce reaffirmed a “neutral” rating on shares of Enbridge in a research report on Monday, May 11th. Wall Street Zen cut Enbridge from a “hold” rating to a “sell” rating in a research report on Saturday, June 27th. Scotiabank restated an “outperform” rating on shares of Enbridge in a research note on Monday, May 11th. Royal Bank Of Canada raised their target price on Enbridge from $76.00 to $79.00 and gave the company an “outperform” rating in a research report on Monday, May 11th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Enbridge in a research note on Friday, May 22nd. Seven research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, Enbridge currently has an average rating of “Moderate Buy” and an average target price of $66.50.

Enbridge Price Performance

Shares of NYSE ENB opened at $54.60 on Friday. The stock has a fifty day simple moving average of $55.45 and a two-hundred day simple moving average of $52.64. Enbridge Inc has a 1-year low of $43.59 and a 1-year high of $58.45. The firm has a market cap of $119.26 billion, a price-to-earnings ratio of 25.64 and a beta of 0.58. The company has a current ratio of 0.81, a quick ratio of 0.73 and a debt-to-equity ratio of 1.69.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its earnings results on Friday, May 8th. The pipeline company reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.02. The firm had revenue of $9.37 billion for the quarter, compared to analyst estimates 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 previous year, the company posted $1.03 earnings per share. Analysts anticipate that Enbridge Inc will post 2.14 earnings per share for the current year.

Enbridge Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Friday, May 15th were issued a $0.97 dividend. The ex-dividend date of this dividend was Friday, May 15th. This represents a $3.88 annualized dividend and a yield of 7.1%. Enbridge’s dividend payout ratio (DPR) is 133.80%.

About Enbridge

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.