Montgomery Investment Management Inc. held its stake in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 20,173 shares of the pipeline company’s stock at the end of the second quarter. Montgomery Investment Management Inc.’s holdings in Enbridge were worth $803,000 at the end of the most recent quarter.
Several other large investors also recently added to or reduced their stakes in ENB. Goelzer Investment Management Inc. acquired a new stake in shares of Enbridge during the first quarter valued at approximately $4,602,000. Meyer Handelman Co. acquired a new stake in shares of Enbridge during the first quarter valued at approximately $7,364,000. M. Kraus & Co acquired a new stake in shares of Enbridge during the first quarter valued at approximately $5,227,000. Tdam USA Inc. acquired a new stake in shares of Enbridge during the first quarter valued at approximately $970,000. Finally, Tealwood Asset Management Inc. purchased a new position in Enbridge during the first quarter worth $4,678,000. Hedge funds and other institutional investors own 63.37% of the company’s stock.
Enbridge Inc (NYSE ENB) traded up 0.74% during trading on Friday, hitting $39.42. The stock had a trading volume of 1,480,343 shares. The company has a market cap of $64.88 billion, a price-to-earnings ratio of 32.31 and a beta of 0.62. The company has a 50-day moving average price of $40.59 and a 200-day moving average price of $40.82. Enbridge Inc has a 52-week low of $37.37 and a 52-week high of $45.77.
Enbridge (NYSE:ENB) (TSE:ENB) last announced its earnings results on Thursday, August 3rd. The pipeline company reported $0.30 earnings per share (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 company had revenue of $8.26 billion during the quarter, compared to analyst estimates of $8.81 billion. During the same quarter last year, the business earned $0.50 EPS. Equities research analysts forecast that Enbridge Inc will post $1.58 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Tuesday, August 15th will be given a dividend of $0.489 per share. The ex-dividend date of this dividend is Friday, August 11th. This is a positive change from Enbridge’s previous quarterly dividend of $0.33. This represents a $1.96 dividend on an annualized basis and a yield of 4.96%. Enbridge’s payout ratio is presently 190.29%.
A number of research firms recently weighed in on ENB. BidaskClub downgraded Enbridge from a “sell” rating to a “strong sell” rating in a research note on Friday, August 11th. Morgan Stanley reaffirmed an “equal weight” rating and set a $44.00 price target (down from $45.00) on shares of Enbridge in a research note on Friday, July 14th. Zacks Investment Research downgraded Enbridge from a “hold” rating to a “sell” rating in a research note on Tuesday, July 11th. J P Morgan Chase & Co reissued a “neutral” rating on shares of Enbridge in a research note on Friday, June 23rd. Finally, Wolfe Research assumed coverage on Enbridge in a research note on Friday, May 12th. They issued a “market perform” rating and a $43.00 price objective for the company. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have assigned a buy rating to the company’s stock. The stock has an average 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.
Receive News & Ratings for Enbridge Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Enbridge Inc and related companies with MarketBeat.com's FREE daily email newsletter.
