Hsbc Holdings PLC Lowers Stock Holdings in Enbridge Inc $ENB

Hsbc Holdings PLC reduced its stake in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 77.4% during the second quarter, HoldingsChannel.com reports. The firm owned 23,386 shares of the pipeline company’s stock after selling 80,173 shares during the quarter. Hsbc Holdings PLC’s holdings in Enbridge were worth $1,266,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in ENB. Brighton Jones LLC purchased a new stake in shares of Enbridge in the fourth quarter worth $261,000. AQR Capital Management LLC raised its position in shares of Enbridge by 68.5% in the 1st 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 last quarter. AXA S.A. boosted its stake in Enbridge by 15.5% in the 2nd quarter. AXA S.A. now owns 113,887 shares of the pipeline company’s stock worth $5,161,000 after purchasing an additional 15,259 shares in the last quarter. Diversify Advisory Services LLC boosted its stake in Enbridge by 93.1% in the 2nd 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 grew its position in Enbridge by 80.1% during 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 purchasing an additional 34,912 shares during the last quarter. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. BMO Capital Markets reaffirmed a “market perform” rating on shares of Enbridge in a report on Monday, August 3rd. US Capital Advisors upgraded shares of Enbridge from a “hold” rating to a “moderate buy” rating in a report on Thursday, August 20th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Enbridge in a research report on Wednesday, August 19th. Royal Bank Of Canada increased their target price on Enbridge from $79.00 to $84.00 and gave the company an “outperform” rating in a research note on Monday, August 3rd. Finally, Canadian Imperial Bank of Commerce raised Enbridge from a “neutral” rating to a “sector outperform” rating in a report on Thursday. Six investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $67.00.

Enbridge Price Performance

ENB opened at $50.65 on Tuesday. The company has a debt-to-equity ratio of 1.69, a quick ratio of 0.66 and a current ratio of 0.72. The stock has a market capitalization of $110.62 billion, a P/E ratio of 27.09 and a beta of 0.58. The company’s 50-day simple moving average is $53.56 and its two-hundred day simple moving average is $54.02. Enbridge Inc has a 52-week low of $45.03 and a 52-week high of $58.45.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings results on Friday, July 31st. The pipeline company reported $0.46 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.03. Enbridge had a net margin of 7.20% and a return on equity of 11.17%. The firm had revenue of $9.70 billion during the quarter, compared to analyst estimates of $8.67 billion. During the same period in the previous year, the business posted $0.65 earnings per share. As a group, analysts predict that Enbridge Inc will post 2.11 EPS for the current year.

Enbridge Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Friday, August 14th will be given a $0.97 dividend. This represents a $3.88 dividend on an annualized basis and a yield of 7.7%. The ex-dividend date of this dividend is Friday, August 14th. Enbridge’s payout ratio is 147.06%.

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.