Barings LLC Reduces Holdings in Enbridge Inc $ENB

Barings LLC lowered its position in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 30.1% in the first quarter, Holdings Channel reports. The institutional investor owned 129,888 shares of the pipeline company’s stock after selling 56,054 shares during the quarter. Barings LLC’s holdings in Enbridge were worth $7,042,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Brighton Jones LLC acquired a new position in Enbridge in the fourth quarter valued at approximately $261,000. AQR Capital Management LLC increased its stake in Enbridge by 68.5% during the first quarter. AQR Capital Management LLC now owns 28,533 shares of the pipeline company’s stock worth $1,264,000 after acquiring an additional 11,599 shares during the last quarter. AXA S.A. increased its stake in Enbridge by 15.5% during the second quarter. AXA S.A. now owns 113,887 shares of the pipeline company’s stock worth $5,161,000 after acquiring an additional 15,259 shares during the last quarter. Diversify Advisory Services LLC increased its stake in Enbridge by 93.1% during the second quarter. Diversify Advisory Services LLC now owns 22,016 shares of the pipeline company’s stock worth $1,042,000 after acquiring an additional 10,617 shares during the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its position in Enbridge by 80.1% in the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 78,507 shares of the pipeline company’s stock valued at $3,553,000 after purchasing an additional 34,912 shares during the period. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Enbridge Price Performance

Shares of ENB opened at $56.45 on Friday. 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 fifty-two week low of $44.53 and a fifty-two week high of $58.45. The company has a market cap of $123.28 billion, a P/E ratio of 26.50 and a beta of 0.58. The firm’s 50 day moving average price is $55.58 and its 200 day moving average price is $52.93.

Enbridge (NYSE:ENB) (TSE:ENB) last released its earnings results on Friday, May 8th. The pipeline company reported $0.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.02. The firm had revenue of $9.37 billion during the quarter, compared to analyst estimates of $8.49 billion. Enbridge had a return on equity of 11.21% and a net margin of 9.83%.During the same period last year, the business posted $1.03 earnings per share. On average, research analysts forecast that Enbridge Inc will post 2.14 earnings per share for the current fiscal year.

Enbridge Dividend Announcement

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

Wall Street Analysts Forecast Growth

ENB has been the topic of several recent analyst reports. Canadian Imperial Bank of Commerce reaffirmed a “neutral” rating on shares of Enbridge in a research note on Monday, May 11th. TD Securities reissued a “hold” rating on shares of Enbridge in a research report on Thursday. Royal Bank Of Canada boosted their price objective on shares of Enbridge from $76.00 to $79.00 and gave the company an “outperform” rating in a report on Monday, May 11th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Enbridge in a research report on Friday, May 22nd. Finally, Scotiabank reaffirmed an “outperform” rating on shares of Enbridge in a research note 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 stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $66.50.

Enbridge 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.