Cannell & Spears LLC Decreases Stake in Enbridge Inc $ENB

Cannell & Spears LLC reduced its position in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 87.2% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 3,950 shares of the pipeline company’s stock after selling 27,025 shares during the period. Cannell & Spears LLC’s holdings in Enbridge were worth $214,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Triumph Capital Management purchased a new position in shares of Enbridge in the third quarter worth about $26,000. Turning Point Benefit Group Inc. bought a new stake in shares of Enbridge in the third quarter valued at approximately $28,000. Inspire Investing LLC purchased a new stake in shares of Enbridge during the 4th quarter valued at approximately $29,000. Garner Asset Management Corp purchased a new stake in shares of Enbridge during the 4th quarter valued at approximately $30,000. Finally, Imprint Wealth LLC purchased a new stake in shares of Enbridge during the 3rd quarter valued at approximately $31,000. 54.60% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts recently weighed in on ENB shares. TD Securities reiterated a “hold” rating on shares of Enbridge in a research note on Thursday, July 16th. Wall Street Zen upgraded Enbridge from a “sell” rating to a “hold” rating in a research report on Sunday, July 12th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Enbridge in a report on Friday, May 22nd. Canadian Imperial Bank of Commerce reaffirmed a “neutral” rating on shares of Enbridge in a report on Monday, May 11th. Finally, Scotiabank reiterated an “outperform” rating on shares of Enbridge in a research report on Tuesday, July 21st. Six research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $66.50.

Enbridge Stock Performance

Shares of ENB opened at $56.84 on Monday. The company has a market cap of $124.13 billion, a PE ratio of 26.68 and a beta of 0.58. The company has a current ratio of 0.81, a quick ratio of 0.73 and a debt-to-equity ratio of 1.69. The stock has a 50-day moving average price of $55.73 and a 200-day moving average price of $53.29. Enbridge Inc has a 12-month low of $44.58 and a 12-month high of $58.45.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings data on Friday, May 8th. The pipeline company reported $0.71 EPS for the quarter, topping the consensus estimate of $0.69 by $0.02. The company had revenue of $9.37 billion during the quarter, compared to analyst estimates of $8.49 billion. Enbridge had a return on equity of 11.21% and a net margin of 9.83%.During the same quarter in the previous year, the firm earned $1.03 earnings per share. As a group, equities analysts forecast that Enbridge Inc will post 2.13 earnings per share for the current fiscal year.

Enbridge Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Friday, May 15th were given a dividend of $0.97 per share. The ex-dividend date was Friday, May 15th. This represents a $3.88 annualized dividend and a yield of 6.8%. Enbridge’s payout ratio is presently 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.