Janney Montgomery Scott LLC Sells 244,562 Shares of Enbridge Inc $ENB

Janney Montgomery Scott LLC reduced its position in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 28.0% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 628,595 shares of the pipeline company’s stock after selling 244,562 shares during the period. Janney Montgomery Scott LLC’s holdings in Enbridge were worth $34,032,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Triumph Capital Management bought a new stake in Enbridge in the third quarter valued at approximately $26,000. Turning Point Benefit Group Inc. bought a new position in shares of Enbridge during the 3rd quarter worth approximately $28,000. Inspire Investing LLC bought a new position in shares of Enbridge during the 4th quarter worth approximately $29,000. Garner Asset Management Corp bought a new position in shares of Enbridge during the 4th quarter worth approximately $30,000. Finally, Imprint Wealth LLC acquired a new position in shares of Enbridge during the 3rd quarter worth approximately $31,000. Institutional investors own 54.60% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on ENB. Canadian Imperial Bank of Commerce reaffirmed a “neutral” rating on shares of Enbridge in a report on Monday, May 11th. Royal Bank Of Canada lifted their price objective 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. Wall Street Zen downgraded shares of Enbridge from a “hold” rating to a “sell” rating in a report on Saturday. Weiss Ratings reissued a “buy (b)” rating on shares of Enbridge in a research report on Friday, May 22nd. Finally, Scotiabank restated an “outperform” rating on shares of Enbridge in a research note on Monday, May 11th. Seven equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $66.50.

Enbridge Price Performance

Shares of NYSE ENB opened at $55.41 on Tuesday. The firm has a market cap of $121.02 billion, a P/E ratio of 26.01 and a beta of 0.58. The business’s 50 day moving average is $55.18 and its 200-day moving average is $52.24. The company has a current ratio of 0.81, a quick ratio of 0.73 and a debt-to-equity ratio of 1.69. Enbridge Inc has a 1-year low of $43.59 and a 1-year high of $58.45.

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, 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 during the quarter, compared to the consensus estimate of $8.49 billion. During the same period in the previous year, the company posted $1.03 EPS. Equities research analysts predict that Enbridge Inc will post 2.18 earnings per share for the current year.

Enbridge Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Friday, May 15th were given 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 of this dividend was Friday, May 15th. Enbridge’s payout ratio is presently 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.