Enbridge Inc $ENB Shares Sold by Catalyst Capital Advisors LLC

Catalyst Capital Advisors LLC lessened its stake in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 5.9% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 292,653 shares of the pipeline company’s stock after selling 18,443 shares during the quarter. Enbridge accounts for 0.3% of Catalyst Capital Advisors LLC’s investment portfolio, making the stock its 23rd largest position. Catalyst Capital Advisors LLC’s holdings in Enbridge were worth $15,865,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in ENB. Retirement Planning Group LLC grew its holdings in Enbridge by 3.6% during the 1st quarter. Retirement Planning Group LLC now owns 5,357 shares of the pipeline company’s stock valued at $290,000 after buying an additional 187 shares during the last quarter. Bank & Trust Co raised its holdings in shares of Enbridge by 0.6% in the second quarter. Bank & Trust Co now owns 33,276 shares of the pipeline company’s stock worth $1,804,000 after acquiring an additional 193 shares during the last quarter. Cornerstone Wealth Management LLC raised its holdings in shares of Enbridge by 0.6% in the second quarter. Cornerstone Wealth Management LLC now owns 31,543 shares of the pipeline company’s stock worth $1,710,000 after acquiring an additional 194 shares during the last quarter. PFG Investments LLC lifted its position in shares of Enbridge by 0.9% in the first quarter. PFG Investments LLC now owns 22,208 shares of the pipeline company’s stock valued at $1,202,000 after acquiring an additional 202 shares in the last quarter. Finally, MIdWestOne Financial Group Inc. boosted its stake in shares of Enbridge by 4.3% during the fourth quarter. MIdWestOne Financial Group Inc. now owns 4,906 shares of the pipeline company’s stock valued at $235,000 after acquiring an additional 203 shares during the last quarter. Institutional investors and hedge funds own 54.60% of the company’s stock.

Analysts Set New Price Targets

ENB has been the subject of a number of recent research reports. Wall Street Zen upgraded Enbridge from a “sell” rating to a “hold” rating in a research report on Sunday, July 12th. Royal Bank Of Canada raised their price target on shares of Enbridge from $79.00 to $84.00 and gave the stock an “outperform” rating in a research note on Monday, August 3rd. Canadian Imperial Bank of Commerce reiterated a “neutral” rating on shares of Enbridge in a report on Monday, May 11th. TD Securities reissued a “hold” rating on shares of Enbridge in a research report on Thursday, July 16th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Enbridge in a research report on Friday, May 22nd. Four research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat.com, Enbridge currently has a consensus rating of “Hold” and an average price target of $67.00.

Enbridge Stock Performance

Enbridge stock opened at $50.89 on Friday. The stock has a fifty day moving average price of $54.67 and a 200 day moving average price of $53.91. Enbridge Inc has a 52 week low of $45.03 and a 52 week high of $58.45. The firm has a market capitalization of $111.15 billion, a P/E ratio of 27.22 and a beta of 0.58. The company has a current ratio of 0.72, a quick ratio of 0.66 and a debt-to-equity ratio of 1.69.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings results on Friday, July 31st. The pipeline company reported $0.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.03. The firm had revenue of $9.70 billion for the quarter, compared to analyst estimates of $8.67 billion. Enbridge had a return on equity of 11.17% and a net margin of 7.20%.During the same period last year, the company earned $0.65 EPS. Equities research analysts anticipate that Enbridge Inc will post 2.11 earnings per share for the current year.

Enbridge Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Friday, August 14th will be given a $0.97 dividend. The ex-dividend date of this dividend is Friday, August 14th. This represents a $3.88 annualized dividend and a dividend yield of 7.6%. Enbridge’s dividend payout ratio (DPR) is currently 152.41%.

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.