International Assets Investment Management LLC Sells 39,450 Shares of Enbridge Inc. (NYSE:ENB)

International Assets Investment Management LLC cut its holdings in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 25.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 117,705 shares of the pipeline company’s stock after selling 39,450 shares during the quarter. International Assets Investment Management LLC’s holdings in Enbridge were worth $4,240,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of ENB. Healthcare of Ontario Pension Plan Trust Fund grew its holdings in Enbridge by 98.4% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,644,850 shares of the pipeline company’s stock worth $54,578,000 after purchasing an additional 815,850 shares during the period. Private Trust Co. NA raised its stake in Enbridge by 5.7% during the 4th quarter. Private Trust Co. NA now owns 8,834 shares of the pipeline company’s stock worth $318,000 after buying an additional 473 shares during the period. Vanguard Group Inc. boosted its holdings in Enbridge by 5.7% in the third quarter. Vanguard Group Inc. now owns 81,491,857 shares of the pipeline company’s stock worth $2,704,715,000 after acquiring an additional 4,400,848 shares in the last quarter. Monashee Investment Management LLC acquired a new stake in Enbridge in the third quarter valued at approximately $4,252,000. Finally, abrdn plc increased its holdings in shares of Enbridge by 85.6% during the third quarter. abrdn plc now owns 1,098,700 shares of the pipeline company’s stock valued at $36,466,000 after acquiring an additional 506,800 shares in the last quarter. 54.60% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on ENB. Jefferies Financial Group began coverage on shares of Enbridge in a research report on Tuesday, February 27th. They issued a “buy” rating for the company. Stifel Nicolaus began coverage on Enbridge in a report on Thursday, January 18th. They set a “hold” rating for the company. Two analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $55.20.

Enbridge Trading Up 1.1 %

NYSE:ENB opened at $37.24 on Thursday. The firm’s 50 day moving average is $35.41 and its 200 day moving average is $35.02. Enbridge Inc. has a 12 month low of $31.03 and a 12 month high of $40.22. The stock has a market capitalization of $79.17 billion, a PE ratio of 17.73, a price-to-earnings-growth ratio of 3.43 and a beta of 0.87. The company has a current ratio of 0.83, a quick ratio of 0.74 and a debt-to-equity ratio of 1.30.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings data on Friday, February 9th. The pipeline company reported $0.47 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.03). Enbridge had a net margin of 13.97% and a return on equity of 10.23%. The business had revenue of $8.37 billion for the quarter, compared to analysts’ expectations of $9.62 billion. Sell-side analysts expect that Enbridge Inc. will post 2.12 earnings per share for the current year.

Enbridge Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Investors of record on Wednesday, May 15th will be paid a dividend of $0.677 per share. This represents a $2.71 dividend on an annualized basis and a dividend yield of 7.27%. This is a positive change from Enbridge’s previous quarterly dividend of $0.66. The ex-dividend date of this dividend is Tuesday, May 14th. Enbridge’s payout ratio is presently 127.14%.

Enbridge Company Profile

Enbridge Inc, together with its subsidiaries, operates as an energy infrastructure company. The company operates through five segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution and Storage, Renewable Power Generation, and Energy Services. The Liquids Pipelines segment operates pipelines and related terminals to transport various grades of crude oil and other liquid hydrocarbons in Canada and the United States.