Janus Henderson Group PLC Lowers Stock Position in Enbridge Inc. (NYSE:ENB)

Janus Henderson Group PLC lowered its position in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 13.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 912,164 shares of the pipeline company’s stock after selling 145,832 shares during the quarter. Janus Henderson Group PLC’s holdings in Enbridge were worth $38,702,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in ENB. Barclays PLC lifted its position in Enbridge by 8.3% during the third quarter. Barclays PLC now owns 584,020 shares of the pipeline company’s stock valued at $23,717,000 after buying an additional 44,675 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of Enbridge by 1.1% during the third quarter. JPMorgan Chase & Co. now owns 16,142,638 shares of the pipeline company’s stock valued at $655,556,000 after acquiring an additional 176,733 shares in the last quarter. Brookstone Capital Management boosted its stake in Enbridge by 7.7% in the 4th quarter. Brookstone Capital Management now owns 52,550 shares of the pipeline company’s stock worth $2,230,000 after purchasing an additional 3,759 shares in the last quarter. Wedmont Private Capital boosted its stake in Enbridge by 5.0% in the 4th quarter. Wedmont Private Capital now owns 6,082 shares of the pipeline company’s stock worth $264,000 after purchasing an additional 292 shares in the last quarter. Finally, Eastern Bank boosted its stake in Enbridge by 10.6% in the 4th quarter. Eastern Bank now owns 7,757 shares of the pipeline company’s stock worth $329,000 after purchasing an additional 742 shares in the last quarter. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Enbridge Price Performance

Shares of NYSE:ENB opened at $44.81 on Thursday. Enbridge Inc. has a fifty-two week low of $34.60 and a fifty-two week high of $47.08. The business has a 50-day simple moving average of $44.39 and a two-hundred day simple moving average of $43.37. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.54 and a current ratio of 0.55. The firm has a market cap of $97.69 billion, a price-to-earnings ratio of 26.05, a price-to-earnings-growth ratio of 3.92 and a beta of 0.84.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its earnings results on Friday, May 9th. The pipeline company reported $0.72 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.04. Enbridge had a return on equity of 10.16% and a net margin of 10.04%. The business had revenue of $7.27 billion during the quarter, compared to analyst estimates of $10.20 billion. During the same quarter in the previous year, the firm earned $0.92 EPS. On average, analysts expect that Enbridge Inc. will post 2.14 earnings per share for the current year.

Enbridge Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Sunday, June 1st. Shareholders of record on Thursday, May 15th will be given a $0.679 dividend. This is a positive change from Enbridge’s previous quarterly dividend of $0.67. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $2.72 dividend on an annualized basis and a yield of 6.06%. Enbridge’s payout ratio is 139.69%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Raymond James upgraded shares of Enbridge to a “moderate buy” rating in a research note on Wednesday, April 23rd. BMO Capital Markets reiterated a “market perform” rating on shares of Enbridge in a research note on Monday. Royal Bank of Canada reiterated an “outperform” rating and issued a $67.00 price target on shares of Enbridge in a research note on Monday. Citigroup assumed coverage on shares of Enbridge in a research note on Friday, April 4th. They issued a “buy” rating on the stock. Finally, TD Securities assumed coverage on shares of Enbridge in a research note on Wednesday, January 15th. They issued a “buy” rating on the stock. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $67.00.

About Enbridge

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.