Guinness Asset Management LTD Cuts Stock Position in Enbridge Inc $ENB

Guinness Asset Management LTD cut its stake in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 9.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 187,398 shares of the pipeline company’s stock after selling 20,473 shares during the quarter. Guinness Asset Management LTD’s holdings in Enbridge were worth $8,469,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of ENB. Vanguard Group Inc. boosted its holdings in shares of Enbridge by 1.7% in the first quarter. Vanguard Group Inc. now owns 93,187,025 shares of the pipeline company’s stock valued at $4,124,271,000 after acquiring an additional 1,569,879 shares in the last quarter. GQG Partners LLC raised its holdings in Enbridge by 1.5% during the first quarter. GQG Partners LLC now owns 75,439,320 shares of the pipeline company’s stock worth $3,338,405,000 after purchasing an additional 1,148,580 shares in the last quarter. TD Asset Management Inc lifted its position in Enbridge by 1.6% in the second quarter. TD Asset Management Inc now owns 39,883,394 shares of the pipeline company’s stock valued at $1,804,913,000 after purchasing an additional 617,577 shares during the period. Goldman Sachs Group Inc. lifted its position in Enbridge by 137.9% in the first quarter. Goldman Sachs Group Inc. now owns 32,907,433 shares of the pipeline company’s stock valued at $1,458,128,000 after purchasing an additional 19,074,827 shares during the period. Finally, JPMorgan Chase & Co. boosted its holdings in Enbridge by 10.5% in the 1st quarter. JPMorgan Chase & Co. now owns 17,643,681 shares of the pipeline company’s stock valued at $781,792,000 after purchasing an additional 1,680,116 shares in the last quarter. 54.60% of the stock is owned by institutional investors and hedge funds.

Enbridge Stock Down 0.6%

ENB opened at $46.90 on Monday. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.65 and a current ratio of 0.75. The company has a market cap of $102.27 billion, a price-to-earnings ratio of 23.10, a PEG ratio of 4.32 and a beta of 0.78. Enbridge Inc has a one year low of $39.73 and a one year high of $50.54. The business’s fifty day moving average is $48.44 and its two-hundred day moving average is $46.56.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings results on Friday, August 1st. The pipeline company reported $0.47 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.06. The business had revenue of $7.14 billion during the quarter, compared to analysts’ expectations of $10.56 billion. Enbridge had a return on equity of 10.77% and a net margin of 10.11%.During the same quarter last year, the business posted $0.58 earnings per share. Analysts anticipate that Enbridge Inc will post 2.14 EPS for the current fiscal year.

Enbridge Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 1st. Shareholders of record on Friday, August 15th were given a dividend of $0.6839 per share. The ex-dividend date was Friday, August 15th. This is an increase from Enbridge’s previous quarterly dividend of $0.68. This represents a $2.74 dividend on an annualized basis and a yield of 5.8%. Enbridge’s dividend payout ratio (DPR) is presently 134.98%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on ENB shares. National Bankshares reissued a “sector perform” rating on shares of Enbridge in a research note on Tuesday, August 5th. CIBC lowered Enbridge from an “outperform” rating to a “neutral” rating in a report on Thursday, October 9th. Scotiabank reissued a “sector perform” rating on shares of Enbridge in a report on Monday, October 20th. Wall Street Zen lowered shares of Enbridge from a “hold” rating to a “sell” rating in a research report on Sunday, September 21st. Finally, Zacks Research cut shares of Enbridge from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 17th. Six analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $60.50.

Enbridge Profile

Enbridge Inc, together with its subsidiaries, operates as an energy infrastructure company. The company operates through five segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution and Storage, Renewable Power Generation, and Energy Services. The Liquids Pipelines segment operates pipelines and related terminals to transport various grades of crude oil and other liquid hydrocarbons in Canada and the United States.