NewGen Asset Management Ltd Has $4.08 Million Holdings in Enbridge Inc $ENB

NewGen Asset Management Ltd trimmed its position in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 21.7% during the second quarter, Holdings Channel.com reports. The firm owned 90,000 shares of the pipeline company’s stock after selling 25,000 shares during the period. Enbridge accounts for 2.3% of NewGen Asset Management Ltd’s holdings, making the stock its 16th biggest position. NewGen Asset Management Ltd’s holdings in Enbridge were worth $4,079,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Whipplewood Advisors LLC increased its stake in Enbridge by 112.4% during the 2nd quarter. Whipplewood Advisors LLC now owns 582 shares of the pipeline company’s stock valued at $26,000 after purchasing an additional 308 shares in the last quarter. Financial Gravity Companies Inc. acquired a new position in shares of Enbridge during the second quarter valued at about $29,000. Twin Peaks Wealth Advisors LLC bought a new stake in shares of Enbridge during the second quarter worth about $31,000. Addison Advisors LLC bought a new stake in shares of Enbridge during the second quarter worth about $35,000. Finally, FNY Investment Advisers LLC acquired a new stake in shares of Enbridge in the 2nd quarter worth about $36,000. 54.60% of the stock is currently owned by institutional investors.

Enbridge Trading Up 0.3%

NYSE:ENB opened at $47.55 on Friday. Enbridge Inc has a 1 year low of $39.73 and a 1 year high of $50.54. The stock’s fifty day moving average price is $47.74 and its two-hundred day moving average price is $47.14. The company has a debt-to-equity ratio of 1.64, a current ratio of 0.80 and a quick ratio of 0.68. The company has a market cap of $103.71 billion, a P/E ratio of 26.12 and a beta of 0.68.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its earnings results on Friday, November 7th. The pipeline company reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.06). Enbridge had a net margin of 9.20% and a return on equity of 10.51%. The company had revenue of $7 billion for the quarter, compared to analysts’ expectations of $8.45 billion. During the same period in the previous year, the firm earned $0.55 EPS. As a group, analysts expect that Enbridge Inc will post 2.14 EPS for the current year.

Enbridge Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Sunday, March 1st. Investors of record on Tuesday, February 17th will be issued a dividend of $0.97 per share. This is a boost from Enbridge’s previous quarterly dividend of $0.94. The ex-dividend date of this dividend is Tuesday, February 17th. This represents a $3.88 dividend on an annualized basis and a yield of 8.2%. Enbridge’s payout ratio is currently 147.80%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on ENB. BMO Capital Markets reissued a “market perform” rating on shares of Enbridge in a report on Monday, November 10th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Enbridge in a research report on Monday, December 8th. National Bankshares reiterated a “sector perform” rating on shares of Enbridge in a report on Monday, November 10th. Zacks Research cut Enbridge from a “hold” rating to a “strong sell” rating in a research note on Tuesday, November 11th. Finally, Wall Street Zen downgraded shares of Enbridge from a “hold” rating to a “sell” rating in a research report on Sunday, September 21st. Six equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $63.00.

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.