Crossmark Global Holdings Inc. Sells 27,861 Shares of Enbridge Inc $ENB

Crossmark Global Holdings Inc. trimmed its position in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 37.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 46,638 shares of the pipeline company’s stock after selling 27,861 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Enbridge were worth $2,231,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Brighton Jones LLC bought a new position in shares of Enbridge during the 4th quarter worth about $261,000. AQR Capital Management LLC increased its stake in Enbridge by 68.5% in the first quarter. AQR Capital Management LLC now owns 28,533 shares of the pipeline company’s stock valued at $1,264,000 after acquiring an additional 11,599 shares during the period. AXA S.A. increased its stake in Enbridge by 15.5% in the second quarter. AXA S.A. now owns 113,887 shares of the pipeline company’s stock valued at $5,161,000 after acquiring an additional 15,259 shares during the period. Diversify Advisory Services LLC raised 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 purchasing an additional 10,617 shares in 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 worth $3,553,000 after purchasing an additional 34,912 shares in the last quarter. 54.60% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on ENB shares. Canadian Imperial Bank of Commerce reaffirmed a “neutral” rating on shares of Enbridge in a report on Monday. TD Securities cut Enbridge from a “buy” rating to a “hold” rating in a report on Tuesday, February 17th. Citigroup restated a “buy” rating on shares of Enbridge in a research report on Thursday, February 19th. JPMorgan Chase & Co. lowered Enbridge from an “overweight” rating to a “neutral” rating in a research note on Tuesday, January 27th. Finally, Royal Bank Of Canada upped their price target on Enbridge from $76.00 to $79.00 and gave the company an “outperform” rating in a research report on Monday. Seven investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Enbridge currently has a consensus rating of “Moderate Buy” and an average price target of $66.50.

Enbridge Stock Performance

NYSE:ENB opened at $54.48 on Tuesday. The stock has a market capitalization of $118.97 billion, a P/E ratio of 25.58 and a beta of 0.59. The company has a current ratio of 0.63, a quick ratio of 0.55 and a debt-to-equity ratio of 1.70. Enbridge Inc has a 1 year low of $43.59 and a 1 year high of $55.49. The firm has a 50 day moving average of $53.76 and a 200-day moving average of $50.20.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings results on Friday, May 8th. The pipeline company reported $0.71 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.02. Enbridge had a return on equity of 11.26% and a net margin of 9.83%.The business had revenue of $9.37 billion for the quarter, compared to analyst estimates of $8.49 billion. During the same period in the prior year, the company earned $1.03 EPS. As a group, sell-side analysts anticipate that Enbridge Inc will post 2.2 EPS for the current fiscal year.

Enbridge Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Stockholders of record on Friday, May 15th will be issued a dividend of $0.97 per share. This represents a $3.88 annualized dividend and a dividend yield of 7.1%. The ex-dividend date is Friday, May 15th. Enbridge’s dividend payout ratio is presently 130.52%.

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.