Mediolanum International Funds Ltd Trims Stock Holdings in Enbridge Inc $ENB

Mediolanum International Funds Ltd lowered its position in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 30.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 109,646 shares of the pipeline company’s stock after selling 48,463 shares during the quarter. Mediolanum International Funds Ltd’s holdings in Enbridge were worth $5,452,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Whipplewood Advisors LLC lifted its holdings in shares of Enbridge by 112.4% during the second quarter. Whipplewood Advisors LLC now owns 582 shares of the pipeline company’s stock valued at $26,000 after purchasing an additional 308 shares during the last quarter. Highline Wealth Partners LLC increased its position in Enbridge by 73.1% during the 3rd quarter. Highline Wealth Partners LLC now owns 559 shares of the pipeline company’s stock valued at $28,000 after buying an additional 236 shares in the last quarter. Financial Gravity Companies Inc. purchased a new position in Enbridge during the second quarter valued at $29,000. True Wealth Design LLC boosted its holdings in Enbridge by 588.2% in the third quarter. True Wealth Design LLC now owns 585 shares of the pipeline company’s stock worth $30,000 after acquiring an additional 500 shares in the last quarter. Finally, Twin Peaks Wealth Advisors LLC purchased a new stake in shares of Enbridge in the second quarter worth $31,000. Institutional investors own 54.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on ENB shares. JPMorgan Chase & Co. lowered shares of Enbridge from an “overweight” rating to a “neutral” rating in a research note on Tuesday, January 27th. Weiss Ratings downgraded shares of Enbridge from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, January 26th. Zacks Research upgraded shares of Enbridge from a “strong sell” rating to a “hold” rating in a report on Monday, December 29th. BMO Capital Markets reaffirmed a “market perform” rating on shares of Enbridge in a research report on Monday, November 10th. Finally, CIBC lowered Enbridge from an “outperform” rating to a “neutral” rating in a report on Thursday, October 9th. Five equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Enbridge has an average rating of “Hold” and a consensus target price of $63.00.

Enbridge Stock Down 1.1%

Shares of ENB stock opened at $48.30 on Tuesday. The company has a current ratio of 0.80, a quick ratio of 0.68 and a debt-to-equity ratio of 1.64. Enbridge Inc has a 12 month low of $39.73 and a 12 month high of $50.54. The stock has a market cap of $105.37 billion, a P/E ratio of 26.54 and a beta of 0.69. The company has a 50 day simple moving average of $47.44 and a two-hundred day simple moving average of $47.62.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings results on Friday, November 7th. The pipeline company reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.06). The business had revenue of $7 billion for the quarter, compared to analysts’ expectations of $8.45 billion. Enbridge had a return on equity of 10.51% and a net margin of 9.20%.During the same quarter in the prior year, the business earned $0.55 EPS. On average, research analysts expect that Enbridge Inc will post 2.14 earnings per share for the current year.

Enbridge Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Sunday, March 1st. Shareholders of record on Tuesday, February 17th will be paid a dividend of $0.97 per share. This represents a $3.88 dividend on an annualized basis and a yield of 8.0%. The ex-dividend date is Tuesday, February 17th. This is a positive change from Enbridge’s previous quarterly dividend of $0.94. Enbridge’s dividend payout ratio (DPR) is 147.80%.

About Enbridge

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.