Atlantic Trust Group LLC trimmed its stake in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 2.4% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 19,623 shares of the pipeline company’s stock after selling 488 shares during the quarter. Atlantic Trust Group LLC’s holdings in Enbridge were worth $781,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently added to or reduced their stakes in the stock. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in Enbridge by 0.3% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 6,663 shares of the pipeline company’s stock valued at $265,000 after purchasing an additional 22 shares during the period. HM Payson & Co. grew its holdings in Enbridge by 0.8% in the second quarter. HM Payson & Co. now owns 6,440 shares of the pipeline company’s stock valued at $256,000 after purchasing an additional 50 shares during the period. FineMark National Bank & Trust grew its holdings in Enbridge by 0.6% in the second quarter. FineMark National Bank & Trust now owns 9,291 shares of the pipeline company’s stock valued at $370,000 after purchasing an additional 53 shares during the period. Hudock Capital Group LLC grew its holdings in Enbridge by 1.0% in the second quarter. Hudock Capital Group LLC now owns 6,269 shares of the pipeline company’s stock valued at $249,000 after purchasing an additional 61 shares during the period. Finally, Livingston Group Asset Management CO operating as Southport Capital Management grew its holdings in Enbridge by 0.3% in the second quarter. Livingston Group Asset Management CO operating as Southport Capital Management now owns 18,722 shares of the pipeline company’s stock valued at $745,000 after purchasing an additional 64 shares during the period. Hedge funds and other institutional investors own 61.61% of the company’s stock.
Enbridge Inc (ENB) opened at 40.86 on Tuesday. The firm’s 50-day moving average is $40.52 and its 200-day moving average is $40.53. The firm has a market capitalization of $67.25 billion, a PE ratio of 33.46 and a beta of 0.63. Enbridge Inc has a 12 month low of $37.37 and a 12 month high of $45.09.
Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings data on Thursday, August 3rd. The pipeline company reported $0.30 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by $0.05. Enbridge had a return on equity of 6.04% and a net margin of 5.28%. The firm had revenue of $8.26 billion during the quarter, compared to analyst estimates of $8.81 billion. During the same quarter in the prior year, the company posted $0.50 EPS. On average, equities research analysts expect that Enbridge Inc will post $1.69 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 1st. Investors of record on Tuesday, August 15th were issued a $0.489 dividend. The ex-dividend date of this dividend was Friday, August 11th. This represents a $1.96 dividend on an annualized basis and a yield of 4.79%. This is an increase from Enbridge’s previous quarterly dividend of $0.33. Enbridge’s dividend payout ratio is currently 190.29%.
ENB has been the subject of a number of recent analyst reports. BidaskClub upgraded shares of Enbridge from a “strong sell” rating to a “sell” rating in a report on Friday, August 25th. Zacks Investment Research downgraded shares of Enbridge from a “hold” rating to a “sell” rating in a report on Tuesday, July 11th. Morgan Stanley restated an “equal weight” rating and issued a $44.00 target price (down from $45.00) on shares of Enbridge in a report on Friday, July 14th. Finally, J P Morgan Chase & Co restated a “neutral” rating on shares of Enbridge in a report on Friday, June 23rd. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company. Enbridge has a consensus rating of “Hold” and an average target price of $54.67.
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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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