Enbridge Inc $ENB Shares Sold by Morgan Stanley Institutional Investment Advisors LLC

Morgan Stanley Institutional Investment Advisors LLC cut its stake in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 1.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,640,116 shares of the pipeline company’s stock after selling 108,111 shares during the quarter. Enbridge accounts for approximately 38.6% of Morgan Stanley Institutional Investment Advisors LLC’s holdings, making the stock its biggest position. Morgan Stanley Institutional Investment Advisors LLC owned approximately 0.35% of Enbridge worth $365,427,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. Cullen Capital Management LLC lifted its holdings in shares of Enbridge by 3.3% during the fourth quarter. Cullen Capital Management LLC now owns 1,063,905 shares of the pipeline company’s stock worth $50,887,000 after purchasing an additional 33,797 shares during the period. Van Lanschot Kempen Investment Management N.V. acquired a new stake in shares of Enbridge during the fourth quarter worth $7,099,000. Korea Investment CORP lifted its holdings in shares of Enbridge by 3.3% during the fourth quarter. Korea Investment CORP now owns 1,337,634 shares of the pipeline company’s stock worth $64,093,000 after purchasing an additional 43,032 shares during the period. Sumitomo Life Insurance Co. lifted its holdings in shares of Enbridge by 1.1% during the fourth quarter. Sumitomo Life Insurance Co. now owns 18,621 shares of the pipeline company’s stock worth $891,000 after purchasing an additional 205 shares during the period. Finally, Wealthspire Advisors LLC lifted its holdings in shares of Enbridge by 34.1% during the fourth quarter. Wealthspire Advisors LLC now owns 10,082 shares of the pipeline company’s stock worth $482,000 after purchasing an additional 2,566 shares during the period. 54.60% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ENB has been the subject of several recent research reports. Raymond James Financial raised Enbridge to a “moderate buy” rating in a report on Tuesday, February 17th. TD Securities downgraded Enbridge from a “buy” rating to a “hold” rating in a report on Tuesday, February 17th. Canadian Imperial Bank of Commerce reissued a “neutral” rating on shares of Enbridge in a report on Monday, May 11th. BMO Capital Markets reissued a “market perform” rating on shares of Enbridge in a report on Tuesday, February 17th. Finally, Scotiabank reissued an “outperform” rating on shares of Enbridge in a report on Monday, May 11th. Seven research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $66.50.

Enbridge Price Performance

Enbridge stock opened at $56.49 on Friday. Enbridge Inc has a one year low of $43.59 and a one year high of $58.45. The company has a debt-to-equity ratio of 1.69, a quick ratio of 0.73 and a current ratio of 0.81. The business has a fifty day moving average of $54.83 and a two-hundred day moving average of $51.64. The company has a market cap of $123.35 billion, a P/E ratio of 26.52 and a beta of 0.58.

Enbridge (NYSE:ENB) (TSE:ENB) last released its earnings results on Friday, May 8th. The pipeline company reported $0.71 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.02. Enbridge had a return on equity of 11.21% and a net margin of 9.83%.The company had revenue of $9.37 billion during the quarter, compared to the consensus estimate of $8.49 billion. During the same quarter last year, the company earned $1.03 earnings per share. As a group, analysts predict that Enbridge Inc will post 2.18 earnings per share 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 issued a $0.97 dividend. The ex-dividend date of this dividend was Friday, May 15th. This represents a $3.88 dividend on an annualized basis and a yield of 6.9%. Enbridge’s dividend payout ratio (DPR) is 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.