QV Investors Inc. Reduces Stake in Enbridge Inc $ENB

QV Investors Inc. lowered its stake in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 4.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 696,095 shares of the pipeline company’s stock after selling 34,230 shares during the quarter. Enbridge makes up 2.9% of QV Investors Inc.’s investment portfolio, making the stock its 12th largest position. QV Investors Inc.’s holdings in Enbridge were worth $37,735,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in ENB. Vanguard Group Inc. boosted its holdings in Enbridge by 2.1% in the 4th 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 during the period. RNC Capital Management LLC increased its holdings in shares of Enbridge by 1.6% in the fourth quarter. RNC Capital Management LLC now owns 1,446,697 shares of the pipeline company’s stock worth $69,196,000 after purchasing an additional 22,637 shares during the period. Thomasville National Bank raised its position in shares of Enbridge by 3.0% in the fourth quarter. Thomasville National Bank now owns 868,003 shares of the pipeline company’s stock worth $41,517,000 after buying an additional 24,993 shares in the last quarter. Intact Investment Management Inc. raised its position in shares of Enbridge by 22.8% in the fourth quarter. Intact Investment Management Inc. now owns 987,976 shares of the pipeline company’s stock worth $47,275,000 after buying an additional 183,163 shares in the last quarter. Finally, Western Wealth Management LLC boosted its stake in Enbridge by 346.8% during the first quarter. Western Wealth Management LLC now owns 36,190 shares of the pipeline company’s stock valued at $1,959,000 after buying an additional 28,091 shares during the period. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on ENB. TD Securities restated a “hold” rating on shares of Enbridge in a research report on Thursday, July 16th. BMO Capital Markets reaffirmed a “market perform” rating on shares of Enbridge in a report on Monday, August 3rd. Weiss Ratings reissued a “buy (b)” rating on shares of Enbridge in a report on Friday, May 22nd. Scotiabank restated an “outperform” rating on shares of Enbridge in a research report on Tuesday, July 21st. Finally, Wall Street Zen raised shares of Enbridge from a “sell” rating to a “hold” rating in a research note on Sunday, July 12th. Four investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $67.00.

Enbridge Stock Performance

NYSE ENB opened at $51.30 on Friday. Enbridge Inc has a 52-week low of $45.03 and a 52-week high of $58.45. The company has a fifty day moving average of $54.77 and a 200-day moving average of $53.93. The company has a market capitalization of $112.03 billion, a P/E ratio of 27.43 and a beta of 0.58. The company has a debt-to-equity ratio of 1.69, a quick ratio of 0.66 and a current ratio of 0.72.

Enbridge (NYSE:ENB) (TSE:ENB) last released its earnings results on Friday, July 31st. The pipeline company reported $0.46 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.03. Enbridge had a return on equity of 11.17% and a net margin of 7.20%.The business had revenue of $9.70 billion for the quarter, compared to analysts’ expectations of $8.67 billion. During the same quarter in the prior year, the firm earned $0.65 earnings per share. As a group, equities research analysts predict that Enbridge Inc will post 2.11 EPS for the current fiscal year.

Enbridge Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Friday, August 14th will be issued a $0.97 dividend. This represents a $3.88 dividend on an annualized basis and a dividend yield of 7.6%. The ex-dividend date is Friday, August 14th. Enbridge’s dividend payout ratio is presently 152.41%.

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.