Janney Montgomery Scott LLC Has $34.03 Million Stake in Enbridge Inc $ENB

Janney Montgomery Scott LLC lowered its stake in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 28.0% during the first quarter, HoldingsChannel reports. The institutional investor owned 628,595 shares of the pipeline company’s stock after selling 244,562 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Enbridge were worth $34,032,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Triumph Capital Management bought a new stake in shares of Enbridge during the 3rd quarter valued at $26,000. Turning Point Benefit Group Inc. bought a new position in shares of Enbridge in the third quarter worth $28,000. Inspire Investing LLC bought a new position in shares of Enbridge in the fourth quarter worth $29,000. Garner Asset Management Corp acquired a new position in Enbridge in the fourth quarter valued at about $30,000. Finally, Imprint Wealth LLC acquired a new position in Enbridge in the third quarter valued at about $31,000. Institutional investors own 54.60% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on ENB. Canadian Imperial Bank of Commerce reaffirmed a “neutral” rating on shares of Enbridge in a research report on Monday, May 11th. Weiss Ratings restated a “buy (b)” rating on shares of Enbridge in a research report on Friday, May 22nd. Wall Street Zen downgraded shares of Enbridge from a “hold” rating to a “sell” rating in a report on Saturday. Scotiabank reaffirmed an “outperform” rating on shares of Enbridge in a report on Monday, May 11th. Finally, Royal Bank Of Canada increased their price target on shares of Enbridge from $76.00 to $79.00 and gave the stock an “outperform” rating in a research report on Monday, May 11th. Seven research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat, Enbridge presently has an average rating of “Moderate Buy” and an average price target of $66.50.

Enbridge Price Performance

Enbridge stock opened at $55.41 on Tuesday. The company has a debt-to-equity ratio of 1.69, a quick ratio of 0.73 and a current ratio of 0.81. Enbridge Inc has a 52 week low of $43.59 and a 52 week high of $58.45. The stock has a market capitalization of $121.02 billion, a P/E ratio of 26.01 and a beta of 0.58. The stock has a fifty day moving average of $55.18 and a 200-day moving average of $52.24.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings data 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. Enbridge had a return on equity of 11.21% and a net margin of 9.83%.The business had revenue of $9.37 billion for the quarter, compared to analyst estimates of $8.49 billion. During the same period last year, the firm posted $1.03 earnings per share. On average, sell-side analysts expect that Enbridge Inc will post 2.18 earnings per share for the current fiscal year.

Enbridge Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Friday, May 15th were paid a $0.97 dividend. This represents a $3.88 dividend on an annualized basis and a dividend yield of 7.0%. The ex-dividend date was Friday, May 15th. Enbridge’s dividend payout ratio (DPR) is presently 133.80%.

Enbridge Company Profile

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.