Enbridge Inc $ENB Shares Sold by Heronetta Management L.P.

Heronetta Management L.P. cut its stake in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 92.0% in the 1st quarter, Holdings Channel reports. The institutional investor owned 15,507 shares of the pipeline company’s stock after selling 177,759 shares during the quarter. Enbridge makes up 0.8% of Heronetta Management L.P.’s holdings, making the stock its 11th biggest holding. Heronetta Management L.P.’s holdings in Enbridge were worth $840,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC purchased a new stake in Enbridge during the fourth quarter worth approximately $261,000. AQR Capital Management LLC lifted its position in Enbridge by 68.5% during the 1st 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 in the last quarter. AXA S.A. raised its stake in shares of Enbridge by 15.5% during the second quarter. AXA S.A. now owns 113,887 shares of the pipeline company’s stock valued at $5,161,000 after purchasing an additional 15,259 shares during the period. Diversify Advisory Services LLC grew its holdings in Enbridge by 93.1% during the 2nd quarter. Diversify Advisory Services LLC now owns 22,016 shares of the pipeline company’s stock valued at $1,042,000 after purchasing an additional 10,617 shares in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its position in Enbridge by 80.1% in the 2nd 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 buying an additional 34,912 shares during the last quarter. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Enbridge Stock Performance

NYSE:ENB traded up $0.05 during midday trading on Friday, reaching $54.64. 2,330,853 shares of the company traded hands, compared to its average volume of 3,703,008. The firm has a market capitalization of $119.34 billion, a price-to-earnings ratio of 25.65 and a beta of 0.58. The company has a fifty day moving average price of $55.48 and a 200 day moving average price of $52.65. The company has a debt-to-equity ratio of 1.69, a current ratio of 0.81 and a quick ratio of 0.73. Enbridge Inc has a twelve month low of $44.13 and a twelve month high of $58.45.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its earnings results on Friday, May 8th. The pipeline company reported $0.71 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.02. The firm had revenue of $9.37 billion for 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 company earned $1.03 earnings per share. On average, analysts expect that Enbridge Inc will post 2.15 EPS for the current fiscal year.

Enbridge Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Friday, May 15th were issued a $0.97 dividend. This represents a $3.88 dividend on an annualized basis and a dividend yield of 7.1%. The ex-dividend date of this dividend was Friday, May 15th. Enbridge’s dividend payout ratio (DPR) is 133.80%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on ENB. Royal Bank Of Canada raised their price target 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. Canadian Imperial Bank of Commerce reaffirmed a “neutral” rating on shares of Enbridge in a report on Monday, May 11th. Weiss Ratings reissued a “buy (b)” rating on shares of Enbridge in a research report on Friday, May 22nd. Scotiabank reaffirmed an “outperform” rating on shares of Enbridge in a report on Monday, May 11th. Finally, Wall Street Zen lowered shares of Enbridge from a “hold” rating to a “sell” rating in a research note on Saturday, June 27th. Seven investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Enbridge presently has a consensus 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.