Northwestern Mutual Wealth Management Co. Cuts Stock Holdings in Enbridge Inc $ENB

Northwestern Mutual Wealth Management Co. lessened its holdings in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 53.4% during the fourth quarter, HoldingsChannel.com reports. The fund owned 69,522 shares of the pipeline company’s stock after selling 79,594 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in Enbridge were worth $3,325,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in ENB. Brighton Jones LLC purchased a new position in shares of Enbridge in the 4th quarter valued at $261,000. AQR Capital Management LLC raised its stake in shares of Enbridge by 68.5% in the 1st quarter. AQR Capital Management LLC now owns 28,533 shares of the pipeline company’s stock valued at $1,264,000 after acquiring an additional 11,599 shares during the period. AXA S.A. raised its stake in shares of Enbridge by 15.5% in the 2nd quarter. AXA S.A. now owns 113,887 shares of the pipeline company’s stock valued at $5,161,000 after acquiring an additional 15,259 shares during the period. Diversify Advisory Services LLC raised its stake in shares of Enbridge by 93.1% in the 2nd quarter. Diversify Advisory Services LLC now owns 22,016 shares of the pipeline company’s stock valued at $1,042,000 after acquiring an additional 10,617 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its stake in shares of Enbridge by 80.1% in the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 78,507 shares of the pipeline company’s stock valued at $3,553,000 after acquiring an additional 34,912 shares during the period. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on ENB. Weiss Ratings raised shares of Enbridge from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, February 9th. Wall Street Zen downgraded shares of Enbridge from a “hold” rating to a “sell” rating in a research note on Sunday. JPMorgan Chase & Co. downgraded shares of Enbridge from an “overweight” rating to a “neutral” rating in a research note on Tuesday, January 27th. TD Securities downgraded shares of Enbridge from a “buy” rating to a “hold” rating in a research note on Tuesday, February 17th. Finally, Scotiabank reissued an “outperform” rating on shares of Enbridge in a research note on Monday, May 11th. Seven investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, Enbridge presently has a consensus rating of “Moderate Buy” and a consensus target price of $66.50.

Enbridge Stock Performance

Enbridge stock opened at $58.07 on Monday. Enbridge Inc has a 12-month low of $43.59 and a 12-month high of $58.45. The company has a market capitalization of $126.80 billion, a price-to-earnings ratio of 27.26 and a beta of 0.59. 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 firm’s fifty day moving average price is $54.21 and its 200 day moving average price is $50.79.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings results on Friday, May 8th. The pipeline company reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.02. Enbridge had a net margin of 9.83% and a return on equity of 11.21%. The firm had revenue of $9.37 billion for the quarter, compared to the consensus estimate of $8.49 billion. During the same quarter in the previous year, the firm posted $1.03 EPS. On average, research analysts forecast that Enbridge Inc will post 2.18 EPS for the current fiscal year.

Enbridge Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 1st. Investors of record on Friday, May 15th will be paid a dividend of $0.97 per share. The ex-dividend date of this dividend is Friday, May 15th. This represents a $3.88 annualized dividend and a yield of 6.7%. Enbridge’s payout ratio is 133.80%.

Enbridge 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.