Assenagon Asset Management S.A. Sells 720 Shares of Enbridge Inc $ENB

Assenagon Asset Management S.A. reduced its holdings in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 1.0% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 74,700 shares of the pipeline company’s stock after selling 720 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Enbridge were worth $3,380,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of ENB. Brighton Jones LLC bought a new position in Enbridge in the fourth quarter valued at approximately $261,000. Integrated Advisors Network LLC lifted its position in Enbridge by 71.9% in the 4th quarter. Integrated Advisors Network LLC now owns 14,330 shares of the pipeline company’s stock valued at $608,000 after acquiring an additional 5,996 shares in the last quarter. Aegis Wealth Management LLC acquired a new position in Enbridge in the 4th quarter worth $348,000. Anchor Pointe Wealth Management LLC bought a new position in Enbridge during the 4th quarter worth about $233,000. Finally, Wellington Management Group LLP increased its holdings in Enbridge by 0.7% during the 4th quarter. Wellington Management Group LLP now owns 1,150,521 shares of the pipeline company’s stock worth $48,806,000 after purchasing an additional 7,890 shares in the last quarter. Institutional investors own 54.60% of the company’s stock.

Enbridge Trading Up 0.7%

NYSE ENB opened at $49.96 on Thursday. Enbridge Inc has a 12 month low of $39.73 and a 12 month high of $50.15. The company has a current ratio of 0.75, a quick ratio of 0.65 and a debt-to-equity ratio of 1.58. The stock has a 50 day moving average of $47.40 and a 200-day moving average of $45.75. The company has a market cap of $108.94 billion, a PE ratio of 24.61, a PEG ratio of 4.54 and a beta of 0.80.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings results on Friday, August 1st. The pipeline company reported $0.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.06. Enbridge had a net margin of 10.11% and a return on equity of 10.77%. The firm had revenue of $7.14 billion for the quarter, compared to analyst estimates of $10.56 billion. During the same period in the prior year, the firm posted $0.58 earnings per share. On average, equities research analysts anticipate that Enbridge Inc will post 2.14 EPS for the current fiscal year.

Enbridge Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 1st. Investors of record on Friday, August 15th were issued a dividend of $0.6839 per share. The ex-dividend date was Friday, August 15th. This is an increase from Enbridge’s previous quarterly dividend of $0.68. This represents a $2.74 dividend on an annualized basis and a yield of 5.5%. Enbridge’s dividend payout ratio is 134.98%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on ENB. Zacks Research cut Enbridge from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 17th. Argus upped their price target on Enbridge from $50.00 to $54.00 and gave the stock a “buy” rating in a research report on Tuesday, August 12th. Wall Street Zen cut shares of Enbridge from a “hold” rating to a “sell” rating in a research note on Sunday. National Bankshares reissued a “sector perform” rating on shares of Enbridge in a research report on Tuesday, August 5th. Finally, Jefferies Financial Group upgraded shares of Enbridge from a “hold” rating to a “buy” rating in a report on Wednesday, July 23rd. Six analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $60.50.

Enbridge Profile

Enbridge Inc, together with its subsidiaries, operates as an energy infrastructure company. The company operates through five segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution and Storage, Renewable Power Generation, and Energy Services. The Liquids Pipelines segment operates pipelines and related terminals to transport various grades of crude oil and other liquid hydrocarbons in Canada and the United States.