Mesirow Financial Investment Management Inc. Sells 20,278 Shares of Enbridge Inc $ENB

Mesirow Financial Investment Management Inc. reduced its stake in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 10.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 172,259 shares of the pipeline company’s stock after selling 20,278 shares during the period. Mesirow Financial Investment Management Inc.’s holdings in Enbridge were worth $8,239,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of ENB. Brighton Jones LLC purchased a new position in shares of Enbridge in the 4th quarter worth $261,000. AQR Capital Management LLC grew 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 worth $1,264,000 after buying an additional 11,599 shares in the last quarter. AXA S.A. grew 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 worth $5,161,000 after buying an additional 15,259 shares in the last quarter. Diversify Advisory Services LLC grew 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 worth $1,042,000 after buying an additional 10,617 shares in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew 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 worth $3,553,000 after buying an additional 34,912 shares in the last quarter. 54.60% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on ENB shares. Raymond James Financial raised shares of Enbridge to a “moderate buy” rating in a research note on Tuesday, February 17th. Citigroup reissued a “buy” rating on shares of Enbridge in a research note on Thursday, February 19th. Weiss Ratings raised shares of Enbridge from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, February 9th. Canadian Imperial Bank of Commerce reissued a “neutral” rating on shares of Enbridge in a research note on Monday. Finally, BMO Capital Markets reissued a “market perform” rating on shares of Enbridge in a research note on Tuesday, February 17th. Seven equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $66.50.

Enbridge Price Performance

ENB stock opened at $55.24 on Thursday. Enbridge Inc has a 12 month low of $43.59 and a 12 month high of $55.49. The company has a current ratio of 0.81, a quick ratio of 0.55 and a debt-to-equity ratio of 1.69. The company has a 50-day moving average price of $53.82 and a 200 day moving average price of $50.30. The stock has a market cap of $120.62 billion, a PE ratio of 25.93 and a beta of 0.59.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings results on Friday, May 8th. The pipeline company reported $0.71 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $8.49 billion. During the same period in the previous year, the company earned $1.03 EPS. Equities research analysts anticipate that Enbridge Inc will post 2.18 earnings per share for the current year.

Enbridge Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 1st. Investors of record on Friday, May 15th will be issued a dividend of $0.97 per share. The ex-dividend date is Friday, May 15th. This represents a $3.88 dividend on an annualized basis and a yield of 7.0%. Enbridge’s dividend payout ratio (DPR) is presently 130.52%.

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.