Delta Asset Management LLC TN trimmed its holdings in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 0.2% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 266,994 shares of the pipeline company’s stock after selling 447 shares during the quarter. Enbridge comprises 1.3% of Delta Asset Management LLC TN’s portfolio, making the stock its 22nd biggest holding. Delta Asset Management LLC TN’s holdings in Enbridge were worth $9,633,000 as of its most recent SEC filing.
Other institutional investors have also bought and sold shares of the company. Manchester Financial Inc. acquired a new position in Enbridge during the second quarter worth $25,000. Westside Investment Management Inc. acquired a new stake in shares of Enbridge in the second quarter valued at about $25,000. Cascade Investment Advisors Inc. acquired a new stake in shares of Enbridge in the second quarter valued at about $36,000. Hanson McClain Inc. grew its position in shares of Enbridge by 41.9% in the first quarter. Hanson McClain Inc. now owns 1,005 shares of the pipeline company’s stock valued at $36,000 after purchasing an additional 297 shares during the last quarter. Finally, Berman Capital Advisors LLC grew its position in shares of Enbridge by 74.5% in the first quarter. Berman Capital Advisors LLC now owns 1,047 shares of the pipeline company’s stock valued at $37,000 after purchasing an additional 447 shares during the last quarter. 55.19% of the stock is currently owned by hedge funds and other institutional investors.
Several equities research analysts have recently issued reports on ENB shares. Credit Suisse Group downgraded Enbridge from an “outperform” rating to a “neutral” rating in a research report on Thursday, April 25th. Goldman Sachs Group started coverage on Enbridge in a research report on Thursday, July 18th. They issued a “neutral” rating on the stock. Bank of America downgraded Enbridge from a “buy” rating to a “neutral” rating and set a $49.00 price target on the stock. in a research report on Tuesday, July 2nd. ValuEngine downgraded Enbridge from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Finally, Barclays started coverage on Enbridge in a research report on Tuesday, April 9th. They issued an “overweight” rating on the stock. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $43.75.
Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings results on Friday, August 2nd. The pipeline company reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.08. The firm had revenue of $9.92 billion during the quarter. Enbridge had a net margin of 9.97% and a return on equity of 8.15%. On average, analysts expect that Enbridge Inc will post 1.9 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Sunday, September 1st. Shareholders of record on Thursday, August 15th will be paid a dividend of $0.559 per share. This is a boost from Enbridge’s previous quarterly dividend of $0.52. The ex-dividend date is Wednesday, August 14th. This represents a $2.24 dividend on an annualized basis and a yield of 6.83%. Enbridge’s dividend payout ratio (DPR) is currently 106.83%.
In other Enbridge news, insider Albert Monaco purchased 7,848 shares of the business’s stock in a transaction on Wednesday, June 5th. The stock was purchased at an average price of $49.81 per share, for a total transaction of $390,908.88. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.42% of the stock is owned by company insiders.
Enbridge Inc operates as an energy infrastructure company in Canada and the United States. The company operates through five segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution, Green Power and Transmission, and Energy Services. The Liquids Pipelines segment operates common carrier and contract crude oil, natural gas liquids (NGL), and refined products pipelines and terminals.
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