Lewis Asset Management LLC Sells 15,389 Shares of Enbridge Inc $ENB

Lewis Asset Management LLC lowered its stake in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 51.2% in the 1st quarter, HoldingsChannel reports. The fund owned 14,675 shares of the pipeline company’s stock after selling 15,389 shares during the period. Lewis Asset Management LLC’s holdings in Enbridge were worth $795,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Brighton Jones LLC bought a new stake in shares of Enbridge in the 4th quarter valued at approximately $261,000. AQR Capital Management LLC raised its holdings in Enbridge by 68.5% during the 1st quarter. AQR Capital Management LLC now owns 28,533 shares of the pipeline company’s stock valued at $1,264,000 after buying an additional 11,599 shares during the period. AXA S.A. raised its holdings in Enbridge by 15.5% during the 2nd quarter. AXA S.A. now owns 113,887 shares of the pipeline company’s stock valued at $5,161,000 after buying an additional 15,259 shares during the period. Diversify Advisory Services LLC lifted its position in Enbridge by 93.1% in the second quarter. Diversify Advisory Services LLC now owns 22,016 shares of the pipeline company’s stock worth $1,042,000 after buying an additional 10,617 shares during the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its stake in Enbridge by 80.1% during the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 78,507 shares of the pipeline company’s stock worth $3,553,000 after buying an additional 34,912 shares during the period. 54.60% of the stock is owned by institutional investors.

Enbridge Price Performance

Shares of ENB stock opened at $56.24 on Friday. Enbridge Inc has a twelve month low of $43.59 and a twelve month high of $58.45. 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 stock has a fifty day simple moving average of $55.12 and a two-hundred day simple moving average of $52.15. The stock has a market capitalization of $122.84 billion, a price-to-earnings ratio of 26.41 and a beta of 0.58.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings data on Friday, May 8th. The pipeline company reported $0.71 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.02. The firm had revenue of $9.37 billion during the quarter, compared to the consensus estimate 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. On average, analysts predict that Enbridge Inc will post 2.18 EPS for the current fiscal year.

Enbridge Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Friday, May 15th were issued a $0.97 dividend. The ex-dividend date was Friday, May 15th. This represents a $3.88 annualized dividend and a dividend yield of 6.9%. Enbridge’s payout ratio is currently 133.80%.

Wall Street Analyst Weigh In

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

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.