Telos Capital Management Inc. Decreases Stock Holdings in Enbridge Inc $ENB

Telos Capital Management Inc. trimmed its position in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 13.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 125,736 shares of the pipeline company’s stock after selling 18,911 shares during the period. Telos Capital Management Inc.’s holdings in Enbridge were worth $6,807,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of ENB. Vanguard Group Inc. grew its stake in shares of Enbridge by 2.1% in the fourth quarter. Vanguard Group Inc. now owns 100,364,993 shares of the pipeline company’s stock worth $4,802,766,000 after purchasing an additional 2,067,516 shares during the last quarter. TD Asset Management Inc lifted its holdings in 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 buying an additional 137,897 shares during the period. Norges Bank bought a new stake in shares of Enbridge in the 4th quarter worth approximately $1,195,559,000. Geode Capital Management LLC grew its position in shares of Enbridge by 7.1% in the 4th quarter. Geode Capital Management LLC now owns 21,421,826 shares of the pipeline company’s stock worth $1,045,172,000 after buying an additional 1,415,995 shares during the last quarter. Finally, Legal & General Group Plc increased its stake in shares of Enbridge by 4.6% during the fourth 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 during the period. 54.60% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts recently commented on ENB shares. Canadian Imperial Bank of Commerce restated a “neutral” rating on shares of Enbridge in a report on Monday, May 11th. Royal Bank Of Canada boosted their price objective on shares of Enbridge from $76.00 to $79.00 and gave the company an “outperform” rating 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 report on Saturday, June 13th. Scotiabank reaffirmed an “outperform” rating on shares of Enbridge in a research report on Monday, May 11th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Enbridge in a research report on Friday, May 22nd. Seven investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, Enbridge presently has a consensus rating of “Moderate Buy” and a consensus target price of $66.50.

Enbridge Price Performance

ENB opened at $54.82 on Tuesday. 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 company has a market cap of $119.70 billion, a price-to-earnings ratio of 25.74 and a beta of 0.58. The stock has a fifty day simple moving average of $54.92 and a two-hundred day simple moving average of $51.96. Enbridge Inc has a 12-month low of $43.59 and a 12-month high of $58.45.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its earnings results on Friday, May 8th. The pipeline company reported $0.71 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.02. The firm had revenue of $9.37 billion for the quarter, compared to analysts’ expectations of $8.49 billion. Enbridge had a net margin of 9.83% and a return on equity of 11.21%. During the same quarter in the previous year, the business posted $1.03 EPS. Research analysts predict that Enbridge Inc will post 2.18 earnings per share for the current fiscal year.

Enbridge Dividend Announcement

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

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.