Diversify Advisory Services LLC bought a new stake in Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 60,387 shares of the pipeline company's stock, valued at approximately $3,342,000.
Several other hedge funds have also recently added to or reduced their stakes in ENB. Triumph Capital Management bought a new position in shares of Enbridge in the third quarter worth $26,000. Arlington Trust Co LLC lifted its holdings in Enbridge by 114.6% in the second quarter. Arlington Trust Co LLC now owns 500 shares of the pipeline company's stock worth $27,000 after purchasing an additional 267 shares during the period. Turning Point Benefit Group Inc. bought a new position in Enbridge in the 3rd quarter valued at about $28,000. Inspire Investing LLC bought a new position in Enbridge in the 4th quarter valued at about $29,000. Finally, Garner Asset Management Corp acquired a new position in Enbridge during the 4th quarter valued at about $30,000. Institutional investors own 54.60% of the company's stock.
Wall Street Analysts Forecast Growth
ENB has been the subject of a number of research analyst reports. Wall Street Zen raised shares of Enbridge from a "sell" rating to a "hold" rating in a research note on Sunday, July 12th. Royal Bank Of Canada raised their price objective on shares of Enbridge from $79.00 to $84.00 and gave the company an "outperform" rating in a research note on Monday, August 3rd. Weiss Ratings reissued a "buy (b)" rating on shares of Enbridge in a report on Friday, May 22nd. TD Securities restated a "hold" rating on shares of Enbridge in a research report on Thursday, July 16th. Finally, Canadian Imperial Bank of Commerce reaffirmed a "neutral" rating on shares of Enbridge in a research note on Monday, May 11th. Four research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $67.00.
View Our Latest Report on Enbridge
Enbridge Price Performance
Shares of NYSE ENB opened at $51.41 on Wednesday. Enbridge Inc has a twelve month low of $45.03 and a twelve month high of $58.45. The company has a current ratio of 0.72, a quick ratio of 0.66 and a debt-to-equity ratio of 1.69. The firm has a 50-day moving average of $54.49 and a two-hundred day moving average of $53.99. The company has a market capitalization of $112.29 billion, a price-to-earnings ratio of 27.49 and a beta of 0.58.
Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last announced its quarterly earnings data on Friday, July 31st. The pipeline company reported $0.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.03. Enbridge had a net margin of 7.20% and a return on equity of 11.17%. The company had revenue of $9.70 billion for the quarter, compared to analysts' expectations of $8.67 billion. During the same quarter in the previous year, the company posted $0.65 EPS. As a group, analysts expect that Enbridge Inc will post 2.11 earnings per share for the current fiscal year.
Enbridge Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Friday, August 14th will be given a $0.97 dividend. The ex-dividend date is Friday, August 14th. This represents a $3.88 annualized dividend and a yield of 7.5%. Enbridge's payout ratio is 147.06%.
Enbridge Profile
(
Free Report)
Enbridge Inc is a Calgary, Alberta–based energy infrastructure company that develops, owns and operates a diversified portfolio of energy transportation, distribution and generation assets. Its core activities include the operation of crude oil and liquids pipelines, natural gas transmission and distribution systems, and energy storage facilities. In addition to midstream transportation and storage, Enbridge has expanded into renewable power generation and energy transition projects, including wind, solar and utility-scale generation assets.
The company serves customers primarily in Canada and the United States and has interests in other international energy projects.
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