Atria Investments LLC decreased its position in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 9.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,812 shares of the pipeline company’s stock after selling 1,157 shares during the period. Atria Investments LLC’s holdings in Enbridge were worth $430,000 as of its most recent SEC filing.
Other hedge funds have also recently bought and sold shares of the company. Goelzer Investment Management Inc. acquired a new position in shares of Enbridge during the first quarter worth $4,602,000. Meyer Handelman Co. purchased a new stake in shares of Enbridge during the first quarter valued at $7,364,000. M. Kraus & Co purchased a new stake in shares of Enbridge during the first quarter valued at $5,227,000. Brookfield Asset Management Inc. increased its stake 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 valued at $157,726,000 after buying an additional 3,737,212 shares during the period. Finally, Tdam USA Inc. purchased a new stake in shares of Enbridge during the first quarter valued at $970,000. Institutional investors own 63.37% of the company’s stock.
Enbridge Inc (NYSE ENB) traded down 0.15% during midday trading on Wednesday, reaching $39.17. 1,652,395 shares of the company’s stock traded hands. The company has a market capitalization of $64.47 billion, a price-to-earnings ratio of 31.72 and a beta of 0.62. Enbridge Inc has a 1-year low of $37.37 and a 1-year high of $45.77. The firm’s 50-day moving average is $40.64 and its 200-day moving average is $40.86.
Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings data on Thursday, August 3rd. The pipeline company reported $0.30 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.35 by $0.05. Enbridge had a net margin of 5.28% and a return on equity of 6.04%. The business had revenue of $8.26 billion during the quarter, compared to analysts’ expectations of $8.81 billion. During the same period in the previous year, the business posted $0.50 EPS. Analysts forecast that Enbridge Inc will post $1.57 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Tuesday, August 15th will be given a dividend of $0.489 per share. This represents a $1.96 annualized dividend and a dividend yield of 4.99%. The ex-dividend date of this dividend is Friday, August 11th. This is an increase from Enbridge’s previous quarterly dividend of $0.33. Enbridge’s payout ratio is currently 190.29%.
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Several brokerages recently weighed in on ENB. BidaskClub downgraded shares of Enbridge from a “sell” rating to a “strong sell” rating in a research report on Friday, August 11th. Morgan Stanley restated an “equal weight” rating and issued a $44.00 target price (down previously from $45.00) on shares of Enbridge in a report on Friday, July 14th. Zacks Investment Research cut shares of Enbridge from a “hold” rating to a “sell” rating in a report on Tuesday, July 11th. J P Morgan Chase & Co reiterated a “neutral” rating on shares of Enbridge in a research note on Friday, June 23rd. Finally, Wolfe Research started coverage on shares of Enbridge in a research note on Friday, May 12th. They set a “market perform” rating and a $43.00 price target on the stock. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and eight have given a buy rating to the stock. Enbridge presently has an average rating of “Hold” and a consensus price target 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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