BROOKFIELD Corp ON Lowers Position in Enbridge Inc $ENB

BROOKFIELD Corp ON decreased its position in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 30.9% during the first quarter, Holdings Channel.com reports. The firm owned 1,289,260 shares of the pipeline company’s stock after selling 576,665 shares during the period. Enbridge comprises 0.1% of BROOKFIELD Corp ON’s investment portfolio, making the stock its 29th biggest holding. BROOKFIELD Corp ON’s holdings in Enbridge were worth $69,801,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in ENB. Triumph Capital Management acquired a new stake in Enbridge during the third quarter valued at $26,000. Turning Point Benefit Group Inc. purchased a new position in Enbridge in the third quarter valued at $28,000. Inspire Investing LLC acquired a new position in shares of Enbridge in the fourth quarter worth about $29,000. Garner Asset Management Corp acquired a new position in shares of Enbridge in the fourth quarter worth about $30,000. Finally, Imprint Wealth LLC purchased a new stake in shares of Enbridge during the 3rd quarter worth about $31,000. 54.60% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Weiss Ratings restated a “buy (b)” rating on shares of Enbridge in a research report on Friday, May 22nd. Scotiabank reaffirmed an “outperform” rating on shares of Enbridge in a report on Tuesday, July 21st. Canadian Imperial Bank of Commerce reiterated a “neutral” rating on shares of Enbridge in a research report on Monday, May 11th. TD Securities reissued a “hold” rating on shares of Enbridge in a report on Thursday, July 16th. Finally, Wall Street Zen upgraded Enbridge from a “sell” rating to a “hold” rating in a research report on Sunday, July 12th. Six investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Enbridge presently has a consensus rating of “Moderate Buy” and an average price target of $66.50.

Enbridge Stock Performance

NYSE ENB opened at $56.84 on Monday. The company has a debt-to-equity ratio of 1.69, a current ratio of 0.81 and a quick ratio of 0.73. The stock’s 50 day simple moving average is $55.73 and its 200-day simple moving average is $53.29. The company has a market cap of $124.13 billion, a PE ratio of 26.68 and a beta of 0.58. Enbridge Inc has a 1-year low of $44.58 and a 1-year high of $58.45.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings results on Friday, May 8th. The pipeline company reported $0.71 EPS for the quarter, topping 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 firm had revenue of $9.37 billion during the quarter, compared to analysts’ expectations of $8.49 billion. During the same period in the previous year, the business earned $1.03 earnings per share. As a group, equities research analysts anticipate that Enbridge Inc will post 2.13 EPS for the current fiscal year.

Enbridge Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Friday, May 15th were paid a dividend of $0.97 per share. This represents a $3.88 annualized dividend and a yield of 6.8%. The ex-dividend date of this dividend was Friday, May 15th. Enbridge’s payout ratio is 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.