Telos Capital Management Inc. Lowers Stock Position in Enbridge Inc $ENB

Telos Capital Management Inc. cut its stake in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 13.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 125,736 shares of the pipeline company’s stock after selling 18,911 shares during the quarter. Telos Capital Management Inc.’s holdings in Enbridge were worth $6,807,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. raised its position in Enbridge by 2.1% during the fourth quarter. Vanguard Group Inc. now owns 100,364,993 shares of the pipeline company’s stock valued at $4,802,766,000 after purchasing an additional 2,067,516 shares in the last quarter. TD Asset Management Inc boosted its holdings in shares of Enbridge by 0.3% in the 3rd quarter. TD Asset Management Inc now owns 40,021,291 shares of the pipeline company’s stock worth $2,019,473,000 after purchasing an additional 137,897 shares in the last quarter. Norges Bank bought a new position in shares of Enbridge during the 4th quarter valued at about $1,195,559,000. Geode Capital Management LLC increased its position in shares of Enbridge by 7.1% during the 4th quarter. Geode Capital Management LLC now owns 21,421,826 shares of the pipeline company’s stock valued at $1,045,172,000 after purchasing an additional 1,415,995 shares during the last quarter. Finally, Legal & General Group Plc raised its holdings in shares of Enbridge by 4.6% during the 4th quarter. Legal & General Group Plc now owns 19,677,864 shares of the pipeline company’s stock valued at $942,806,000 after buying an additional 858,323 shares in the last quarter. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Enbridge Trading Up 0.5%

NYSE ENB opened at $54.82 on Tuesday. Enbridge Inc has a 1-year low of $43.59 and a 1-year high of $58.45. 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 of $54.92 and a 200-day moving average of $51.96. The firm has a market cap of $119.70 billion, a PE ratio of 25.74 and a beta of 0.58.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its earnings results on Friday, May 8th. The pipeline company reported $0.71 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.02. Enbridge had a return on equity of 11.21% and a net margin of 9.83%.The company had revenue of $9.37 billion during the quarter, compared to analysts’ expectations of $8.49 billion. During the same period in the prior year, the business posted $1.03 EPS. As a group, sell-side analysts forecast that Enbridge Inc will post 2.18 EPS for the current year.

Enbridge Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Friday, May 15th were paid a dividend of $0.97 per share. This represents a $3.88 dividend on an annualized basis and a dividend yield of 7.1%. The ex-dividend date of this dividend was Friday, May 15th. Enbridge’s dividend payout ratio is 133.80%.

Analyst Ratings Changes

ENB has been the subject of a number of recent research reports. Canadian Imperial Bank of Commerce restated a “neutral” rating on shares of Enbridge in a research report on Monday, May 11th. Wall Street Zen upgraded shares of Enbridge from a “sell” rating to a “hold” rating in a research report on Saturday, June 13th. Weiss Ratings reissued a “buy (b)” rating on shares of Enbridge in a research note on Friday, May 22nd. Royal Bank Of Canada boosted their price objective on shares of Enbridge from $76.00 to $79.00 and gave the stock an “outperform” rating in a report on Monday, May 11th. Finally, Scotiabank reaffirmed an “outperform” rating on shares of Enbridge in a research note on Monday, May 11th. Seven analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $66.50.

Enbridge 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.