First Manhattan CO. LLC. Sells 56,620 Shares of Enbridge Inc $ENB

First Manhattan CO. LLC. trimmed its holdings in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 7.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 707,991 shares of the pipeline company’s stock after selling 56,620 shares during the quarter. First Manhattan CO. LLC.’s holdings in Enbridge were worth $33,926,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of ENB. Brighton Jones LLC bought a new stake in shares of Enbridge in the fourth quarter valued at approximately $261,000. AQR Capital Management LLC lifted its position in Enbridge by 68.5% in the first quarter. AQR Capital Management LLC now owns 28,533 shares of the pipeline company’s stock worth $1,264,000 after purchasing an additional 11,599 shares during the period. AXA S.A. boosted 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 buying an additional 15,259 shares in the last quarter. Diversify Advisory Services LLC boosted 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 buying an additional 10,617 shares in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its stake in Enbridge by 80.1% during 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 buying an additional 34,912 shares in the last quarter. 54.60% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on ENB shares. Canadian Imperial Bank of Commerce reiterated a “neutral” rating on shares of Enbridge in a research note on Monday, May 11th. Citigroup reiterated a “buy” rating on shares of Enbridge in a research note on Thursday, February 19th. Wall Street Zen upgraded shares of Enbridge from a “sell” rating to a “hold” rating in a research note on Saturday, June 13th. Weiss Ratings reiterated a “buy (b)” rating on shares of Enbridge in a research note on Friday, May 22nd. Finally, Royal Bank Of Canada lifted their price target on shares of Enbridge from $76.00 to $79.00 and gave the stock an “outperform” rating in a research note on Monday, May 11th. Seven equities research 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 has a consensus rating of “Moderate Buy” and a consensus target price of $66.50.

Enbridge Stock Down 2.1%

ENB opened at $54.50 on Thursday. The company has a market capitalization of $119.00 billion, a P/E ratio of 25.59 and a beta of 0.58. The firm’s fifty day moving average price is $54.91 and its two-hundred day moving average price is $51.83. Enbridge Inc has a fifty-two week low of $43.59 and a fifty-two week high of $58.45. 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 (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings data 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 company had revenue of $9.37 billion during the quarter, compared to analysts’ expectations 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 earned $1.03 earnings per share. On average, analysts anticipate that Enbridge Inc will post 2.18 EPS for the current year.

Enbridge Dividend Announcement

The business also recently disclosed 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. The ex-dividend date of this dividend was Friday, May 15th. This represents a $3.88 dividend on an annualized basis and a dividend yield of 7.1%. Enbridge’s dividend payout ratio (DPR) is presently 133.80%.

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.