Enbridge Inc (ENB) Position Cut by Shell Asset Management Co.

Shell Asset Management Co. reduced its position in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 17.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 241,961 shares of the pipeline company’s stock after selling 51,118 shares during the period. Shell Asset Management Co.’s holdings in Enbridge were worth $12,500,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Caisse DE Depot ET Placement DU Quebec increased its position in shares of Enbridge by 10.9% in the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 43,464,138 shares of the pipeline company’s stock worth $1,818,540,000 after buying an additional 4,256,369 shares during the period. TD Asset Management Inc. increased its position in shares of Enbridge by 28.2% in the first quarter. TD Asset Management Inc. now owns 41,491,668 shares of the pipeline company’s stock worth $1,733,219,000 after buying an additional 9,123,400 shares during the period. Vanguard Group Inc. increased its position in shares of Enbridge by 82.9% in the first quarter. Vanguard Group Inc. now owns 38,983,086 shares of the pipeline company’s stock worth $1,631,051,000 after buying an additional 17,671,076 shares during the period. Bank of Montreal Can increased its position in shares of Enbridge by 72.4% in the first quarter. Bank of Montreal Can now owns 38,965,561 shares of the pipeline company’s stock worth $1,630,318,000 after buying an additional 16,369,985 shares during the period. Finally, FMR LLC increased its position in shares of Enbridge by 30.6% in the first quarter. FMR LLC now owns 34,484,573 shares of the pipeline company’s stock worth $1,444,626,000 after buying an additional 8,072,511 shares during the period. 63.37% of the stock is owned by institutional investors.

Shares of Enbridge Inc (ENB) opened at 39.42 on Friday. Enbridge Inc has a 52 week low of $37.37 and a 52 week high of $45.77. The firm has a market cap of $64.88 billion, a PE ratio of 31.92 and a beta of 0.62. The firm has a 50-day moving average of $40.59 and a 200 day moving average of $40.82.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its earnings results on Thursday, August 3rd. The pipeline company reported $0.30 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by $0.05. The business had revenue of $8.26 billion for the quarter, compared to the consensus estimate of $8.81 billion. Enbridge had a return on equity of 6.04% and a net margin of 5.28%. During the same quarter in the prior year, the business earned $0.50 EPS. Equities research analysts predict that Enbridge Inc will post $1.58 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Tuesday, August 15th will be given a dividend of $0.489 per share. This represents a $1.96 dividend on an annualized basis and a yield of 4.96%. The ex-dividend date of this dividend is Friday, August 11th. This is a positive change from Enbridge’s previous quarterly dividend of $0.33. Enbridge’s dividend payout ratio (DPR) is currently 190.29%.

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ENB has been the subject of a number of analyst reports. Morgan Stanley started coverage on shares of Enbridge in a research report on Tuesday, May 2nd. They issued an “equal weight” rating and a $45.00 price objective for the company. BidaskClub cut shares of Enbridge from a “sell” rating to a “strong sell” rating in a research note on Friday, August 11th. Zacks Investment Research cut shares of Enbridge from a “hold” rating to a “strong sell” rating in a research note on Monday, April 24th. Wolfe Research started coverage on shares of Enbridge in a research note on Friday, May 12th. They set a “market perform” rating and a $43.00 target price for the company. Finally, J P Morgan Chase & Co restated a “neutral” rating on shares of Enbridge in a research note on Friday, June 23rd. Two research analysts have rated the stock with a sell rating, six have given a hold rating and eight have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $54.00.

Enbridge Company Profile

Enbridge Inc is a Canada-based energy transportation and distribution company. The Company is engaged in delivering energy. It operates through five segments: Liquids Pipelines, Gas Distribution, Gas Pipelines and Processing, Green Power and Transmission, and Energy Services. Liquids Pipelines consists of common carrier and contract crude oil, natural gas liquids (NGL), and refined products pipelines and terminals, including Canadian Mainline, Lakehead Pipeline System, Mid-Continent and Gulf Coast and Regional Oil Sands System.

Institutional Ownership by Quarter for Enbridge (NYSE:ENB)

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