Royal London Asset Management Ltd. Sells 12,453 Shares of Enbridge Inc $ENB

Royal London Asset Management Ltd. decreased its holdings in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 13.7% in the second quarter, HoldingsChannel reports. The institutional investor owned 78,373 shares of the pipeline company’s stock after selling 12,453 shares during the period. Royal London Asset Management Ltd.’s holdings in Enbridge were worth $4,249,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the business. Triumph Capital Management bought a new stake in Enbridge in the third quarter valued at about $26,000. Arlington Trust Co LLC boosted its holdings in Enbridge by 114.6% during the second quarter. Arlington Trust Co LLC now owns 500 shares of the pipeline company’s stock valued at $27,000 after purchasing an additional 267 shares in the last quarter. Turning Point Benefit Group Inc. acquired a new stake in Enbridge during the third quarter valued at approximately $28,000. Inspire Investing LLC bought a new stake in shares of Enbridge in the 4th quarter valued at approximately $29,000. Finally, Garner Asset Management Corp bought a new stake in shares of Enbridge in the 4th quarter valued at approximately $30,000. 54.60% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Royal Bank Of Canada raised their target price on Enbridge from $79.00 to $84.00 and gave the stock an “outperform” rating in a research report on Monday, August 3rd. Canadian Imperial Bank of Commerce upgraded Enbridge from a “neutral” rating to a “sector outperform” rating in a research report on Thursday. Scotiabank reiterated an “outperform” rating on shares of Enbridge in a research note on Tuesday, July 21st. TD Securities reiterated a “hold” rating on shares of Enbridge in a research note on Thursday, July 16th. Finally, US Capital Advisors raised Enbridge from a “hold” rating to a “moderate buy” rating in a report on Thursday, August 20th. Six investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $67.00.

Enbridge Price Performance

Enbridge stock opened at $50.65 on Tuesday. The company has a debt-to-equity ratio of 1.69, a quick ratio of 0.66 and a current ratio of 0.72. The firm has a market cap of $110.62 billion, a P/E ratio of 27.09 and a beta of 0.58. The business’s fifty day moving average is $53.56 and its two-hundred day moving average is $54.02. Enbridge Inc has a 52 week low of $45.03 and a 52 week high of $58.45.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its earnings results on Friday, July 31st. The pipeline company reported $0.46 EPS for the quarter, topping the consensus estimate of $0.43 by $0.03. Enbridge had a return on equity of 11.17% and a net margin of 7.20%.The company had revenue of $9.70 billion for the quarter, compared to analysts’ expectations of $8.67 billion. During the same quarter in the prior year, the business earned $0.65 earnings per share. Equities research analysts forecast that Enbridge Inc will post 2.11 earnings per share for the current fiscal year.

Enbridge Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Friday, August 14th will be issued a dividend of $0.97 per share. The ex-dividend date of this dividend is Friday, August 14th. This represents a $3.88 dividend on an annualized basis and a yield of 7.7%. Enbridge’s dividend payout ratio is currently 147.06%.

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.