Wetherby Asset Management Inc. increased its stake in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 1.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 37,163 shares of the pipeline company’s stock after buying an additional 701 shares during the period. Wetherby Asset Management Inc.’s holdings in Enbridge were worth $1,480,000 at the end of the most recent quarter.
Several other institutional investors also recently made changes to their positions in ENB. Goelzer Investment Management Inc. bought a new position in shares of Enbridge during the first quarter valued at approximately $4,602,000. Meyer Handelman Co. acquired a new position in Enbridge during the first quarter worth about $7,364,000. M. Kraus & Co acquired a new position in Enbridge during the first quarter worth about $5,227,000. Tdam USA Inc. acquired a new position in Enbridge during the first quarter worth about $970,000. Finally, Tealwood Asset Management Inc. acquired a new position in Enbridge during the first quarter worth about $4,678,000. 63.83% of the stock is owned by hedge funds and other institutional investors.
Enbridge Inc (NYSE:ENB) opened at 40.61 on Thursday. Enbridge Inc has a 12-month low of $37.37 and a 12-month high of $45.77. The stock’s 50 day moving average is $40.60 and its 200 day moving average is $41.01. The stock has a market capitalization of $66.55 billion, a price-to-earnings ratio of 42.52 and a beta of 0.62.
Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings data on Thursday, August 3rd. The pipeline company reported $0.30 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.35 by $0.05. The firm 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 period in the previous year, the company posted $0.50 earnings per share. Equities research analysts forecast that Enbridge Inc will post $1.64 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Tuesday, August 15th will be issued a $0.489 dividend. This is an increase 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 is Friday, August 11th. Enbridge’s dividend payout ratio is presently 173.79%.
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ENB has been the subject of a number of recent research reports. Zacks Investment Research lowered shares of Enbridge from a “hold” rating to a “strong sell” rating in a research report on Monday, April 24th. J P Morgan Chase & Co reissued a “neutral” rating on shares of Enbridge in a research report on Friday, June 23rd. Morgan Stanley initiated coverage on shares of Enbridge in a research report on Tuesday, May 2nd. They set an “equal weight” rating and a $45.00 price target for the company. BidaskClub raised shares of Enbridge from a “strong sell” rating to a “sell” rating in a research report on Saturday, June 24th. Finally, Wolfe Research initiated coverage on shares of Enbridge in a research report on Friday, May 12th. They set a “market perform” rating and a $43.00 price target for the company. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus 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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