Bollard Group LLC Sells 87,472 Shares of Enbridge Inc $ENB

Bollard Group LLC lowered its stake in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 30.5% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 199,448 shares of the pipeline company’s stock after selling 87,472 shares during the quarter. Bollard Group LLC’s holdings in Enbridge were worth $9,539,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. Aptus Capital Advisors LLC raised its stake in shares of Enbridge by 9.3% in the fourth quarter. Aptus Capital Advisors LLC now owns 18,936 shares of the pipeline company’s stock worth $906,000 after buying an additional 1,610 shares during the period. Arete Wealth Advisors LLC raised its stake in shares of Enbridge by 4.4% in the fourth quarter. Arete Wealth Advisors LLC now owns 4,914 shares of the pipeline company’s stock worth $235,000 after buying an additional 208 shares during the period. Kestra Advisory Services LLC raised its stake in shares of Enbridge by 19.6% in the fourth quarter. Kestra Advisory Services LLC now owns 118,843 shares of the pipeline company’s stock worth $5,684,000 after buying an additional 19,515 shares during the period. Cordoba Advisory Partners LLC bought a new position in shares of Enbridge in the fourth quarter worth about $349,000. Finally, Meixler Investment Management Ltd. raised its stake in shares of Enbridge by 5.4% in the fourth quarter. Meixler Investment Management Ltd. now owns 37,205 shares of the pipeline company’s stock worth $1,780,000 after buying an additional 1,910 shares during the period. Institutional investors own 54.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on ENB. Scotiabank reaffirmed an “outperform” rating on shares of Enbridge in a research note on Monday, May 11th. Raymond James Financial raised Enbridge to a “moderate buy” rating in a research note on Tuesday, February 17th. Citigroup reissued a “buy” rating on shares of Enbridge in a research note on Thursday, February 19th. Canadian Imperial Bank of Commerce reissued a “neutral” rating on shares of Enbridge in a research note on Monday, May 11th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Enbridge in a research note on Friday, May 22nd. Seven analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $66.50.

Enbridge Stock Up 0.0%

Shares of ENB opened at $56.49 on Friday. The business’s 50 day moving average is $54.83 and its 200 day moving average is $51.64. The company has a market capitalization of $123.35 billion, a PE ratio of 26.52 and a beta of 0.58. Enbridge Inc has a 12-month low of $43.59 and a 12-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.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its earnings results on Friday, May 8th. The pipeline company reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.02. The company had revenue of $9.37 billion for 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 quarter last year, the company earned $1.03 EPS. Research analysts expect that Enbridge Inc will post 2.18 earnings per share for the current fiscal year.

Enbridge Announces Dividend

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

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.