Partners Group Holding AG Reduces Stock Holdings in Enbridge Inc $ENB

Partners Group Holding AG lowered its position in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 10.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 256,874 shares of the pipeline company’s stock after selling 30,892 shares during the quarter. Enbridge comprises about 0.8% of Partners Group Holding AG’s holdings, making the stock its 26th biggest holding. Partners Group Holding AG’s holdings in Enbridge were worth $12,272,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of ENB. Tsfg LLC boosted its stake in Enbridge by 329.6% during the third quarter. Tsfg LLC now owns 494 shares of the pipeline company’s stock worth $25,000 after buying an additional 379 shares during the period. Triumph Capital Management purchased a new position in shares of Enbridge in the third quarter valued at approximately $26,000. Turning Point Benefit Group Inc. purchased a new position in shares of Enbridge in the third quarter valued at approximately $28,000. Garner Asset Management Corp acquired a new stake in Enbridge in the fourth quarter valued at approximately $30,000. Finally, Imprint Wealth LLC acquired a new stake in Enbridge in the third quarter valued at approximately $31,000. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Enbridge Trading Up 0.8%

NYSE:ENB opened at $56.81 on Wednesday. The company has a market capitalization of $124.06 billion, a PE ratio of 26.67 and a beta of 0.59. 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 Inc has a 52-week low of $43.59 and a 52-week high of $57.01. The stock has a fifty day simple moving average of $53.98 and a 200-day simple moving average of $50.56.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings results on Friday, May 8th. The pipeline company reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.02. Enbridge had a return on equity of 11.21% and a net margin of 9.83%.The business had revenue of $9.37 billion during the quarter, compared to the consensus estimate of $8.49 billion. During the same quarter in the previous year, the company posted $1.03 EPS. On average, equities research analysts expect that Enbridge Inc will post 2.17 earnings per share for the current fiscal year.

Enbridge Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Investors of record on Friday, May 15th will be paid a $0.97 dividend. The ex-dividend date of this dividend is Friday, May 15th. This represents a $3.88 annualized dividend and a yield of 6.8%. Enbridge’s payout ratio is presently 133.80%.

Analyst Ratings Changes

ENB has been the topic of several analyst reports. Citigroup reaffirmed a “buy” rating on shares of Enbridge in a report on Thursday, February 19th. Canadian Imperial Bank of Commerce restated a “neutral” rating on shares of Enbridge in a research report on Monday, May 11th. Raymond James Financial upgraded shares of Enbridge to a “moderate buy” rating in a research report on Tuesday, February 17th. JPMorgan Chase & Co. lowered shares of Enbridge from an “overweight” rating to a “neutral” rating in a research report on Tuesday, January 27th. Finally, Royal Bank Of Canada boosted their target price on shares of Enbridge from $76.00 to $79.00 and gave the stock an “outperform” rating in a research report on Monday, May 11th. Seven equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus 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.