Enbridge Inc (ENB) Shares Sold by Brown Advisory Inc.
Brown Advisory Inc. cut its position in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 2.7% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 552,108 shares of the pipeline company’s stock after selling 15,314 shares during the quarter. Brown Advisory Inc.’s holdings in Enbridge were worth $19,705,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in the business. Caisse DE Depot ET Placement DU Quebec increased its stake in Enbridge by 0.5% during the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 50,515,740 shares of the pipeline company’s stock worth $1,589,730,000 after acquiring an additional 255,843 shares during the last quarter. CIBC Asset Management Inc increased its stake in Enbridge by 3.6% during the first quarter. CIBC Asset Management Inc now owns 22,749,911 shares of the pipeline company’s stock worth $714,417,000 after acquiring an additional 785,158 shares during the last quarter. Legal & General Group Plc increased its stake in Enbridge by 5.2% during the second quarter. Legal & General Group Plc now owns 11,156,728 shares of the pipeline company’s stock worth $398,416,000 after acquiring an additional 552,015 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in Enbridge by 5.1% during the second quarter. Massachusetts Financial Services Co. MA now owns 10,366,559 shares of the pipeline company’s stock worth $369,983,000 after acquiring an additional 503,975 shares during the last quarter. Finally, Franklin Resources Inc. increased its stake in Enbridge by 2.4% during the first quarter. Franklin Resources Inc. now owns 9,951,598 shares of the pipeline company’s stock worth $312,744,000 after acquiring an additional 230,397 shares during the last quarter. Institutional investors own 59.05% of the company’s stock.
Shares of NYSE ENB opened at $34.76 on Friday. Enbridge Inc has a 1-year low of $29.00 and a 1-year high of $42.10. The company has a quick ratio of 0.47, a current ratio of 0.56 and a debt-to-equity ratio of 0.99. The stock has a market capitalization of $60.06 billion, a PE ratio of 22.57, a P/E/G ratio of 1.88 and a beta of 0.61.
The business also recently announced a dividend, which will be paid on Saturday, September 1st. Stockholders of record on Wednesday, August 15th will be given a $0.516 dividend. This is an increase from Enbridge’s previous dividend of $0.33. The ex-dividend date of this dividend is Tuesday, August 14th. Enbridge’s dividend payout ratio is presently 133.77%.
Several equities research analysts have commented on the company. ValuEngine lowered Enbridge from a “hold” rating to a “sell” rating in a research note on Thursday, August 2nd. CIBC lowered Enbridge to a “buy” rating and set a $57.00 price target for the company. in a research note on Tuesday, May 22nd. BMO Capital Markets dropped their price target on Enbridge from $61.00 to $59.00 and set an “outperform” rating for the company in a research note on Thursday, June 14th. Bank of America upgraded Enbridge from a “neutral” rating to a “buy” rating and upped their price target for the stock from $49.00 to $50.00 in a research note on Friday, August 17th. Finally, Zacks Investment Research lowered Enbridge from a “hold” rating to a “sell” rating in a research note on Tuesday, May 8th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $51.40.
Enbridge Inc operates as an energy infrastructure company in Canada and the United States. The company operates in five segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution, Green Power and Transmission, and Energy Services. The Liquids Pipelines segment operates common carrier and contract crude oil, natural gas liquids (NGL), and refined products pipelines and terminals.
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