AT Bancorp reduced its position in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 36.3% during the second quarter, Holdings Channel reports. The firm owned 3,452 shares of the pipeline company’s stock after selling 1,968 shares during the period. AT Bancorp’s holdings in Enbridge were worth $137,000 as of its most recent SEC filing.
Other large investors have also recently modified their holdings of the company. Capital Asset Advisory Services LLC increased its stake in shares of Enbridge by 2.2% in the first quarter. Capital Asset Advisory Services LLC now owns 6,741 shares of the pipeline company’s stock worth $282,000 after buying an additional 143 shares during the period. Bank of Montreal Can increased its stake in shares of Enbridge by 72.4% in the first quarter. Bank of Montreal Can now owns 38,965,561 shares of the pipeline company’s stock worth $1,630,318,000 after buying an additional 16,369,985 shares during the period. Highland Capital Management LLC purchased a new stake in shares of Enbridge during the first quarter worth $204,000. Home Federal Bank of Tennessee purchased a new stake in shares of Enbridge during the first quarter worth $2,742,000. Finally, Mitchell Mcleod Pugh & Williams Inc. purchased a new stake in shares of Enbridge during the first quarter worth $1,048,000. Institutional investors and hedge funds own 63.83% of the company’s stock.
Shares of Enbridge Inc (ENB) opened at 40.61 on Thursday. Enbridge Inc has a one year low of $37.37 and a one year high of $45.77. The stock has a market capitalization of $66.55 billion, a P/E ratio of 42.52 and a beta of 0.62. The stock’s 50 day moving average price is $40.60 and its 200 day moving average price is $41.01.
Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly 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 return on equity of 6.04% and a net margin of 5.28%. The company had revenue of $8.26 billion during the quarter, compared to the consensus estimate of $8.81 billion. During the same quarter in the prior year, the business earned $0.50 earnings per share. On average, analysts forecast that Enbridge Inc will post $1.64 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Stockholders 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 4.82%. The ex-dividend date of this dividend is Friday, August 11th. Enbridge’s dividend payout ratio (DPR) is currently 173.79%.
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A number of equities research analysts have recently weighed in on the company. Zacks Investment Research downgraded Enbridge from a “hold” rating to a “strong sell” rating in a report on Monday, April 24th. Morgan Stanley started coverage on Enbridge in a research note on Tuesday, May 2nd. They set an “equal weight” rating and a $45.00 price objective for the company. Wolfe Research started coverage on Enbridge in a research note on Friday, May 12th. They set a “market perform” rating and a $43.00 price objective for the company. BidaskClub upgraded Enbridge from a “strong sell” rating to a “sell” rating in a research note on Saturday, June 24th. Finally, J P Morgan Chase & Co restated a “neutral” rating on shares of Enbridge in a research note on Friday, June 23rd. Two analysts have rated the stock with a sell rating, six have issued a hold rating and eight have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average 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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