UBS Asset Management Americas Inc. Sells 28,514 Shares of Enbridge Inc (NYSE:ENB)

UBS Asset Management Americas Inc. decreased its holdings in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 12.2% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 204,267 shares of the pipeline company’s stock after selling 28,514 shares during the quarter. UBS Asset Management Americas Inc.’s holdings in Enbridge were worth $7,370,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of ENB. Lcnb Corp raised its position in shares of Enbridge by 1.0% during the second quarter. Lcnb Corp now owns 30,021 shares of the pipeline company’s stock worth $1,083,000 after acquiring an additional 308 shares during the last quarter. Kempen Capital Management N.V. raised its position in shares of Enbridge by 30.9% during the second quarter. Kempen Capital Management N.V. now owns 1,450 shares of the pipeline company’s stock worth $68,000 after acquiring an additional 342 shares during the last quarter. CWM LLC raised its position in shares of Enbridge by 14.2% during the second quarter. CWM LLC now owns 2,868 shares of the pipeline company’s stock worth $103,000 after acquiring an additional 356 shares during the last quarter. Sequoia Financial Advisors LLC raised its position in shares of Enbridge by 3.7% during the second quarter. Sequoia Financial Advisors LLC now owns 10,970 shares of the pipeline company’s stock worth $396,000 after acquiring an additional 394 shares during the last quarter. Finally, Moors & Cabot Inc. raised its position in shares of Enbridge by 0.3% during the second quarter. Moors & Cabot Inc. now owns 120,023 shares of the pipeline company’s stock worth $4,333,000 after acquiring an additional 401 shares during the last quarter. Hedge funds and other institutional investors own 53.82% of the company’s stock.

Shares of Enbridge stock opened at $34.53 on Friday. The company has a quick ratio of 0.53, a current ratio of 0.63 and a debt-to-equity ratio of 0.92. Enbridge Inc has a 12 month low of $28.82 and a 12 month high of $38.04. The business has a fifty day simple moving average of $34.29 and a 200 day simple moving average of $35.61. The stock has a market cap of $71.12 billion, a PE ratio of 16.84, a price-to-earnings-growth ratio of 2.87 and a beta of 0.57.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings data on Friday, August 2nd. The pipeline company reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.08. Enbridge had a return on equity of 8.16% and a net margin of 9.97%. The business had revenue of $9.92 billion during the quarter. Analysts expect that Enbridge Inc will post 2 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st will be paid a dividend of $0.251 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.91%. Enbridge’s dividend payout ratio (DPR) is presently 107.80%.

ENB has been the subject of a number of recent research reports. Bank of America downgraded Enbridge from a “buy” rating to a “neutral” rating and set a $49.00 target price for the company. in a research report on Tuesday, July 2nd. ValuEngine downgraded Enbridge from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Goldman Sachs Group initiated coverage on Enbridge in a research report on Thursday, July 18th. They set a “neutral” rating for the company. Finally, Wolfe Research downgraded Enbridge from an “outperform” rating to a “peer perform” rating and set a $37.00 target price for the company. in a research report on Thursday, June 13th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $43.75.

About Enbridge

Enbridge Inc operates as an energy infrastructure company in Canada and the United States. The company operates through 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.

Featured Article: What does it mean to hold a stock in street name?

Want to see what other hedge funds are holding ENB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Enbridge Inc (NYSE:ENB) (TSE:ENB).

Institutional Ownership by Quarter for Enbridge (NYSE:ENB)

Receive News & Ratings for Enbridge Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Enbridge and related companies with MarketBeat.com's FREE daily email newsletter.