Advisor Partners LLC decreased its position in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 5.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 12,575 shares of the pipeline company’s stock after selling 671 shares during the period. Advisor Partners LLC’s holdings in Enbridge were worth $501,000 as of its most recent SEC filing.
A number of other institutional investors also recently made changes to their positions in the company. Pennsylvania Trust Co bought a new position in shares of Enbridge during the first quarter worth approximately $5,251,000. DAVENPORT & Co LLC bought a new position in shares of Enbridge during the first quarter worth approximately $8,856,000. LVM Capital Management Ltd. MI bought a new position in shares of Enbridge during the first quarter worth approximately $218,000. Carroll Financial Associates Inc. bought a new position in shares of Enbridge during the first quarter worth approximately $5,519,000. Finally, Country Club Trust Company n.a. acquired a new stake in Enbridge during the first quarter valued at about $266,000. Hedge funds and other institutional investors own 63.37% of the company’s stock.
Shares of Enbridge Inc (ENB) traded up 0.74% during midday trading on Friday, hitting $39.42. The stock had a trading volume of 1,480,343 shares. The stock has a market cap of $64.88 billion, a P/E ratio of 32.31 and a beta of 0.62. The stock has a 50-day moving average price of $40.59 and a 200-day moving average price of $40.82. Enbridge Inc has a 12-month low of $37.37 and a 12-month high of $45.77.
Enbridge (NYSE:ENB) (TSE:ENB) last issued its earnings results on Thursday, August 3rd. The pipeline company reported $0.30 earnings per share for the quarter, missing the 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 6.04% and a net margin of 5.28%. During the same period last year, the business posted $0.50 earnings per share. Equities analysts forecast that Enbridge Inc will post $1.58 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Tuesday, August 15th will be given a $0.489 dividend. This is a positive change from Enbridge’s previous quarterly dividend of $0.33. This represents a $1.96 annualized dividend and a dividend yield of 4.96%. The ex-dividend date of this dividend is Friday, August 11th. Enbridge’s dividend payout ratio (DPR) is 190.29%.
Several equities research analysts have issued reports on the company. Morgan Stanley reissued an “equal weight” rating and set a $44.00 target price (down previously from $45.00) on shares of Enbridge in a research note on Friday, July 14th. BidaskClub raised Enbridge from a “strong sell” rating to a “sell” rating in a research note on Saturday, June 24th. J P Morgan Chase & Co reissued a “neutral” rating on shares of Enbridge in a research note on Friday, June 23rd. Zacks Investment Research cut Enbridge from a “hold” rating to a “strong sell” rating in a research note on Monday, April 24th. Finally, Wolfe Research assumed coverage on Enbridge in a research note on Friday, May 12th. They set a “market perform” rating and a $43.00 target price for the company. Two research analysts have rated the stock with a sell rating, six have given a hold rating and eight have given a buy rating to the company. Enbridge has a consensus rating of “Hold” and a consensus target price of $54.00.
Enbridge Company Profile
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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