Tevis Investment Management Sells 53,610 Shares of Enbridge Inc $ENB

Tevis Investment Management trimmed its holdings in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 89.2% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 6,511 shares of the pipeline company’s stock after selling 53,610 shares during the period. Tevis Investment Management’s holdings in Enbridge were worth $353,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of ENB. Exchange Traded Concepts LLC raised its holdings in Enbridge by 3.9% during the 4th quarter. Exchange Traded Concepts LLC now owns 1,121,715 shares of the pipeline company’s stock valued at $53,652,000 after buying an additional 41,601 shares during the last quarter. Viking Fund Management LLC grew its holdings in Enbridge by 35.2% in the 4th quarter. Viking Fund Management LLC now owns 236,000 shares of the pipeline company’s stock worth $11,288,000 after acquiring an additional 61,500 shares during the last quarter. Third View Private Wealth LLC bought a new stake in Enbridge in the 4th quarter worth $3,691,000. Swiss Life Asset Management Ltd grew its holdings in Enbridge by 19.2% in the 3rd quarter. Swiss Life Asset Management Ltd now owns 276,434 shares of the pipeline company’s stock worth $13,966,000 after acquiring an additional 44,524 shares during the last quarter. Finally, Vanguard Group Inc. increased its position in shares of Enbridge by 2.1% in the fourth quarter. Vanguard Group Inc. now owns 100,364,993 shares of the pipeline company’s stock valued at $4,802,766,000 after acquiring an additional 2,067,516 shares during the period. 54.60% of the stock is owned by institutional investors.

Enbridge Stock Down 0.0%

Shares of Enbridge stock opened at $54.64 on Monday. The company has a current ratio of 0.81, a quick ratio of 0.73 and a debt-to-equity ratio of 1.69. The company’s fifty day simple moving average is $55.48 and its two-hundred day simple moving average is $52.69. The company has a market cap of $119.34 billion, a P/E ratio of 25.65 and a beta of 0.58. Enbridge Inc has a 12-month low of $44.13 and a 12-month high of $58.45.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its earnings results on Friday, May 8th. The pipeline company reported $0.71 EPS for the quarter, topping the consensus estimate of $0.69 by $0.02. Enbridge had a net margin of 9.83% and a return on equity of 11.21%. The firm had revenue of $9.37 billion during the quarter, compared to analysts’ expectations of $8.49 billion. During the same period last year, the company posted $1.03 EPS. Research analysts anticipate that Enbridge Inc will post 2.15 EPS for the current year.

Enbridge Dividend Announcement

The business 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 dividend on an annualized basis and a yield of 7.1%. The ex-dividend date of this dividend was Friday, May 15th. Enbridge’s dividend payout ratio is presently 133.80%.

Wall Street Analysts Forecast Growth

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

Enbridge Company 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.