Catalyst Capital Advisors LLC Sells 49,043 Shares of Enbridge Inc $ENB

Catalyst Capital Advisors LLC lowered its position in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 13.4% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 317,006 shares of the pipeline company’s stock after selling 49,043 shares during the quarter. Catalyst Capital Advisors LLC’s holdings in Enbridge were worth $15,162,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Tsfg LLC boosted its holdings in Enbridge by 329.6% in the 3rd quarter. Tsfg LLC now owns 494 shares of the pipeline company’s stock worth $25,000 after buying an additional 379 shares during the period. Triumph Capital Management bought a new position in Enbridge in the 3rd quarter worth $26,000. Turning Point Benefit Group Inc. bought a new position in Enbridge in the 3rd quarter worth $28,000. Imprint Wealth LLC bought a new position in Enbridge in the 3rd quarter worth $31,000. Finally, Garner Asset Management Corp bought a new position in Enbridge in the 4th quarter worth $30,000. Institutional investors own 54.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on ENB. TD Securities downgraded shares of Enbridge from a “buy” rating to a “hold” rating in a report on Tuesday, February 17th. Royal Bank Of Canada upped their target price on shares of Enbridge from $76.00 to $79.00 and gave the stock an “outperform” rating in a report on Monday, May 11th. Raymond James Financial raised shares of Enbridge to a “moderate buy” rating in a report on Tuesday, February 17th. Citigroup reaffirmed a “buy” rating on shares of Enbridge in a report on Thursday, February 19th. Finally, Scotiabank reaffirmed an “outperform” rating on shares of Enbridge in a report on Monday, May 11th. Seven analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Enbridge has a consensus rating of “Moderate Buy” and an average target price of $66.50.

Enbridge Stock Down 1.5%

ENB opened at $54.75 on Friday. The firm has a 50-day simple moving average of $54.45 and a two-hundred day simple moving average of $51.09. Enbridge Inc has a 52 week low of $43.59 and a 52 week high of $58.45. The company has a market capitalization of $119.56 billion, a PE ratio of 25.71 and a beta of 0.59. The company has a quick ratio of 0.73, a current ratio of 0.81 and a debt-to-equity ratio of 1.69.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings data on Friday, May 8th. The pipeline company reported $0.71 EPS for the quarter, beating the consensus estimate of $0.69 by $0.02. Enbridge had a net margin of 9.83% and a return on equity of 11.21%. The business had revenue of $9.37 billion during the quarter, compared to the consensus estimate of $8.49 billion. During the same quarter in the prior year, the firm earned $1.03 EPS. Analysts forecast that Enbridge Inc will post 2.18 earnings per share for the current fiscal year.

Enbridge Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Friday, May 15th will be issued a dividend of $0.97 per share. This represents a $3.88 annualized dividend and a dividend yield of 7.1%. The ex-dividend date of this dividend is Friday, May 15th. Enbridge’s dividend payout ratio 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.