Sanctuary Advisors LLC Sells 43,253 Shares of Enbridge Inc $ENB

Sanctuary Advisors LLC trimmed its holdings in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 22.3% in the first quarter, Holdings Channel reports. The fund owned 151,111 shares of the pipeline company’s stock after selling 43,253 shares during the period. Sanctuary Advisors LLC’s holdings in Enbridge were worth $8,170,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Norges Bank bought a new position in shares of Enbridge during the 4th quarter valued at about $1,195,559,000. Auto Owners Insurance Co raised its holdings in Enbridge by 4,683.0% during the 4th quarter. Auto Owners Insurance Co now owns 8,566,831 shares of the pipeline company’s stock worth $40,975,000 after buying an additional 8,387,721 shares during the period. Alberta Investment Management Corp acquired a new stake in Enbridge during the 4th quarter worth approximately $132,705,000. Vanguard Group Inc. lifted its stake in Enbridge by 2.1% in the fourth quarter. Vanguard Group Inc. now owns 100,364,993 shares of the pipeline company’s stock valued at $4,802,766,000 after buying an additional 2,067,516 shares in the last quarter. Finally, Raymond James Financial Inc. lifted its stake in Enbridge by 43.7% in the third quarter. Raymond James Financial Inc. now owns 6,633,703 shares of the pipeline company’s stock valued at $334,737,000 after buying an additional 2,016,674 shares in the last quarter. 54.60% of the stock is currently owned by institutional investors.

Enbridge Trading Up 0.4%

Shares of Enbridge stock opened at $56.68 on Friday. The stock has a market cap of $123.79 billion, a P/E ratio of 26.61 and a beta of 0.58. The company has a quick ratio of 0.73, a current ratio of 0.81 and a debt-to-equity ratio of 1.69. Enbridge Inc has a 12-month low of $44.53 and a 12-month high of $58.45. The business’s 50 day moving average is $55.64 and its 200-day moving average is $52.96.

Enbridge (NYSE:ENB) (TSE:ENB) last released its earnings results on Friday, May 8th. The pipeline company reported $0.71 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.02. The business had revenue of $9.37 billion during the quarter, compared to analysts’ expectations of $8.49 billion. Enbridge had a net margin of 9.83% and a return on equity of 11.21%. During the same period last year, the business earned $1.03 earnings per share. Equities research analysts predict that Enbridge Inc will post 2.14 earnings per share for the current fiscal year.

Enbridge Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Friday, May 15th were given a $0.97 dividend. This represents a $3.88 dividend on an annualized basis and a dividend yield of 6.8%. The ex-dividend date of this dividend was Friday, May 15th. Enbridge’s dividend payout ratio (DPR) is 133.80%.

Analyst Ratings Changes

Several brokerages have recently issued reports on ENB. TD Securities reissued a “hold” rating on shares of Enbridge in a research report on Thursday. Scotiabank reaffirmed an “outperform” rating on shares of Enbridge in a research report on Monday, May 11th. Canadian Imperial Bank of Commerce reaffirmed a “neutral” rating on shares of Enbridge in a research note on Monday, May 11th. Weiss Ratings reiterated a “buy (b)” rating on shares of Enbridge in a report on Friday, May 22nd. Finally, Royal Bank Of Canada lifted their price target on Enbridge from $76.00 to $79.00 and gave the company an “outperform” rating in a research note on Monday, May 11th. Seven analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $66.50.

About Enbridge

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.