Enbridge Inc $ENB Stock Sold by Triasima Portfolio Management inc.

Triasima Portfolio Management inc. lessened its stake in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 71.5% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 50,561 shares of the pipeline company’s stock after selling 126,602 shares during the period. Triasima Portfolio Management inc.’s holdings in Enbridge were worth $2,356,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Deutsche Bank AG acquired a new stake in Enbridge during the second quarter worth about $1,850,502,000. Connor Clark & Lunn Investment Management Ltd. raised its position in Enbridge by 18.4% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 20,624,547 shares of the pipeline company’s stock valued at $1,117,353,000 after acquiring an additional 3,205,322 shares in the last quarter. TD Waterhouse Canada Inc. raised its position in Enbridge by 1.0% during the second quarter. TD Waterhouse Canada Inc. now owns 16,189,798 shares of the pipeline company’s stock valued at $863,952,000 after acquiring an additional 164,934 shares in the last quarter. Amundi lifted its holdings in Enbridge by 8.5% in the second quarter. Amundi now owns 11,948,497 shares of the pipeline company’s stock valued at $647,728,000 after acquiring an additional 936,435 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its holdings in Enbridge by 2.5% in the second quarter. The Manufacturers Life Insurance Company now owns 11,079,469 shares of the pipeline company’s stock valued at $599,709,000 after acquiring an additional 268,800 shares during the period. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on the company. Weiss Ratings restated a “buy (b)” rating on shares of Enbridge in a research report on Wednesday, August 19th. The Goldman Sachs Group initiated coverage on shares of Enbridge in a research note on Wednesday, September 30th. They set a “neutral” rating and a $50.00 price objective on the stock. Scotiabank raised shares of Enbridge to a “strong-buy” rating in a report on Thursday, September 17th. Royal Bank Of Canada boosted their target price on shares of Enbridge from $79.00 to $84.00 and gave the company an “outperform” rating in a research note on Monday, August 3rd. Finally, TD upgraded shares of Enbridge to a “buy” rating in a research note on Tuesday, September 15th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, Enbridge currently has an average rating of “Moderate Buy” and a consensus price target of $65.88.

Enbridge Trading Down 1.1%

ENB stock opened at $46.84 on Friday. The company’s 50-day simple moving average is $48.89 and its 200-day simple moving average is $52.77. The company has a quick ratio of 0.66, a current ratio of 0.72 and a debt-to-equity ratio of 1.69. Enbridge Inc has a 52-week low of $45.03 and a 52-week high of $58.45. The firm has a market cap of $104.40 billion, a P/E ratio of 25.05, a PEG ratio of 5.64 and a beta of 0.60.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its earnings results on Friday, July 31st. The pipeline company reported $0.46 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.03. Enbridge had a return on equity of 11.17% and a net margin of 7.20%. The firm had revenue of $9.70 billion for the quarter, compared to analysts’ expectations of $8.67 billion. During the same period last year, the firm earned $0.65 EPS. As a group, equities analysts forecast that Enbridge Inc will post 2.10 EPS for the current fiscal year.

Enbridge Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 1st. Investors of record on Friday, August 14th were issued a C$0.97 dividend. The ex-dividend date of this dividend was Friday, August 14th. This represents a $3.88 dividend on an annualized basis and a yield of 8.3%. Enbridge’s dividend payout ratio is presently 147.06%.

About Enbridge

Enbridge Inc (NYSE: ENB) is a Canadian energy infrastructure company that transports and distributes oil, natural gas and renewable energy across North America. Its operations include crude oil and liquids pipelines, natural gas transmission and storage, natural gas distribution and utility services, and renewable power generation. The company serves customers and communities in Canada and the United States.

Enbridge’s liquids pipeline network transports crude oil and other liquid hydrocarbons to refineries, export terminals and market hubs.