Enbridge Inc $ENB Shares Sold by Westerkirk Capital Inc.

Westerkirk Capital Inc. reduced its position in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 93.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,187 shares of the pipeline company’s stock after selling 85,400 shares during the period. Westerkirk Capital Inc.’s holdings in Enbridge were worth $296,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in ENB. Triumph Capital Management acquired a new position in shares of Enbridge during the third quarter worth $26,000. Turning Point Benefit Group Inc. acquired a new position in shares of Enbridge during the third quarter worth $28,000. Garner Asset Management Corp acquired a new position in shares of Enbridge during the fourth quarter worth $30,000. Imprint Wealth LLC acquired a new position in shares of Enbridge during the third quarter worth $31,000. Finally, Tucker Asset Management LLC acquired a new position in shares of Enbridge during the fourth quarter worth $38,000. 54.60% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ENB has been the topic of a number of recent research reports. Weiss Ratings reissued a “buy (b)” rating on shares of Enbridge in a research report on Friday, May 22nd. BMO Capital Markets reissued a “market perform” rating on shares of Enbridge in a research report on Tuesday, February 17th. TD Securities cut shares of Enbridge from a “buy” rating to a “hold” rating in a research report on Tuesday, February 17th. Wall Street Zen lowered shares of Enbridge from a “hold” rating to a “sell” rating in a research note on Sunday, May 24th. Finally, Citigroup restated a “buy” rating on shares of Enbridge in a research note on Thursday, February 19th. Seven investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, Enbridge currently has an average rating of “Moderate Buy” and a consensus target price of $66.50.

Enbridge Stock Up 0.3%

Shares of NYSE:ENB opened at $55.52 on Wednesday. The company has a current ratio of 0.81, a quick ratio of 0.73 and a debt-to-equity ratio of 1.69. The company has a fifty day simple moving average of $54.68 and a 200 day simple moving average of $51.49. The firm has a market cap of $121.23 billion, a PE ratio of 26.07 and a beta of 0.58. Enbridge Inc has a 12-month low of $43.59 and a 12-month 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 earnings per share (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 business had revenue of $9.37 billion during the quarter, compared to analyst estimates of $8.49 billion. During the same quarter in the previous year, the firm earned $1.03 earnings per share. On average, equities research analysts anticipate that Enbridge Inc will post 2.2 EPS for the current fiscal year.

Enbridge Announces Dividend

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. The ex-dividend date was Friday, May 15th. This represents a $3.88 annualized dividend and a yield of 7.0%. Enbridge’s payout ratio 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.