Mn Services Vermogensbeheer B.V. acquired a new position in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 267,935 shares of the pipeline company’s stock, valued at approximately $10,658,000.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Dimensional Fund Advisors LP raised its position in shares of Enbridge by 3.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 195,023 shares of the pipeline company’s stock worth $8,214,000 after buying an additional 7,196 shares during the last quarter. AQR Capital Management LLC raised its position in shares of Enbridge by 153.9% in the fourth quarter. AQR Capital Management LLC now owns 59,011 shares of the pipeline company’s stock worth $2,486,000 after buying an additional 35,771 shares during the last quarter. Brookfield Asset Management Inc. raised its position in shares of Enbridge by 24,914.7% in the fourth quarter. Brookfield Asset Management Inc. now owns 3,752,212 shares of the pipeline company’s stock worth $157,726,000 after buying an additional 3,737,212 shares during the last quarter. UBS Asset Management Americas Inc. raised its position in shares of Enbridge by 10.2% in the fourth quarter. UBS Asset Management Americas Inc. now owns 2,255,150 shares of the pipeline company’s stock worth $95,012,000 after buying an additional 209,411 shares during the last quarter. Finally, HighPoint Advisor Group LLC bought a new position in Enbridge during the fourth quarter valued at about $337,000. Hedge funds and other institutional investors own 63.31% of the company’s stock.
Enbridge Inc (NYSE ENB) traded down 0.55% during trading on Friday, reaching $41.53. The company had a trading volume of 1,453,004 shares. The company has a 50-day moving average price of $40.07 and a 200 day moving average price of $41.05. Enbridge Inc has a one year low of $37.37 and a one year high of $45.77. The company has a market capitalization of $68.06 billion, a price-to-earnings ratio of 43.49 and a beta of 0.62.
Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings data on Thursday, August 3rd. The pipeline company reported $0.30 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.35 by $0.05. The firm had revenue of $8.26 billion during the quarter, compared to analysts’ expectations of $8.81 billion. Enbridge had a return on equity of 7.55% and a net margin of 5.28%. During the same period last year, the company earned $0.50 earnings per share. Analysts expect that Enbridge Inc will post $1.78 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Tuesday, August 15th will be paid a $0.489 dividend. The ex-dividend date is Friday, August 11th. This is a boost from Enbridge’s previous quarterly dividend of $0.33. This represents a $1.96 dividend on an annualized basis and a dividend yield of 4.71%. Enbridge’s dividend payout ratio is 173.79%.
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Several research analysts have recently issued reports on the company. J P Morgan Chase & Co restated a “neutral” rating on shares of Enbridge in a research report on Friday, June 23rd. Wolfe Research assumed coverage on Enbridge in a research report on Friday, May 12th. They issued a “market perform” rating and a $43.00 price target on the stock. Morgan Stanley reiterated an “equal weight” rating and set a $44.00 target price (down from $45.00) on shares of Enbridge in a report on Friday, July 14th. Zacks Investment Research lowered Enbridge from a “hold” rating to a “sell” rating in a report on Tuesday, July 11th. Finally, BidaskClub upgraded Enbridge from a “strong sell” rating to a “sell” rating in a report on Saturday, June 24th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have given a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $54.00.
About Enbridge
Enbridge Inc is a Canada-based energy transportation and distribution company. The Company is engaged in delivering energy. It operates through five segments: Liquids Pipelines, Gas Distribution, Gas Pipelines and Processing, Green Power and Transmission, and Energy Services. Liquids Pipelines consists of common carrier and contract crude oil, natural gas liquids (NGL), and refined products pipelines and terminals, including Canadian Mainline, Lakehead Pipeline System, Mid-Continent and Gulf Coast and Regional Oil Sands System.
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