Candriam Luxembourg S.C.A. increased its stake in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 7.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 65,884 shares of the pipeline company’s stock after buying an additional 4,557 shares during the period. Candriam Luxembourg S.C.A.’s holdings in Enbridge were worth $2,621,000 as of its most recent filing with the SEC.
Other hedge funds also recently bought and sold shares of the company. Goelzer Investment Management Inc. bought a new stake in Enbridge during the first quarter valued at about $4,602,000. Meyer Handelman Co. bought a new stake in Enbridge during the first quarter valued at about $7,364,000. M. Kraus & Co bought a new stake in Enbridge during the first quarter valued at about $5,227,000. Tdam USA Inc. bought a new stake in Enbridge during the first quarter valued at about $970,000. Finally, Tealwood Asset Management Inc. bought a new stake in Enbridge during the first quarter valued at about $4,678,000. Institutional investors own 63.83% of the company’s stock.
Enbridge Inc (NYSE ENB) opened at 40.61 on Thursday. The company has a market capitalization of $66.55 billion, a P/E ratio of 42.52 and a beta of 0.62. Enbridge Inc has a 52 week low of $37.37 and a 52 week high of $45.77. The firm has a 50 day moving average of $40.60 and a 200-day moving average of $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 for the quarter, missing analysts’ consensus estimates of $0.35 by $0.05. The company had revenue of $8.26 billion during the quarter, compared to analyst estimates of $8.81 billion. Enbridge had a net margin of 5.28% and a return on equity of 6.04%. During the same quarter in the previous year, the business posted $0.50 earnings per share. On average, analysts forecast that Enbridge Inc will post $1.64 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Tuesday, August 15th will be issued a $0.489 dividend. This represents a $1.96 dividend on an annualized basis and a yield of 4.82%. The ex-dividend date is Friday, August 11th. This is a positive change from Enbridge’s previous quarterly dividend of $0.33. Enbridge’s dividend payout ratio (DPR) is 173.79%.
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ENB has been the topic of several research analyst reports. Wolfe Research initiated coverage on shares of Enbridge in a research report on Friday, May 12th. They issued a “market perform” rating and a $43.00 price target on the stock. Zacks Investment Research lowered shares of Enbridge from a “hold” rating to a “sell” rating in a research report on Tuesday, July 11th. J P Morgan Chase & Co restated a “neutral” rating on shares of Enbridge in a research report on Friday, June 23rd. Morgan Stanley started coverage on shares of Enbridge in a research report on Tuesday, May 2nd. They issued an “equal weight” rating and a $45.00 price target on the stock. Finally, BidaskClub upgraded shares of Enbridge from a “strong sell” rating to a “sell” rating in a research report on Saturday, June 24th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and eight have issued a buy rating to the stock. Enbridge currently has an average rating of “Hold” and an average target price of $54.00.
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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