Jones Financial Companies Lllp increased its stake in Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB by 9.3% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,946,871 shares of the pipeline company's stock after acquiring an additional 250,236 shares during the period. Jones Financial Companies Lllp owned approximately 0.13% of Enbridge worth $165,689,000 as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of the stock. Van Hulzen Asset Management LLC increased its position in Enbridge by 19.9% during the second quarter. Van Hulzen Asset Management LLC now owns 5,420 shares of the pipeline company's stock worth $294,000 after purchasing an additional 900 shares during the last quarter. Fiduciary Financial Advisors acquired a new position in shares of Enbridge in the 2nd quarter valued at $78,000. Cullen Capital Management LLC grew its stake in shares of Enbridge by 2.0% during the 2nd quarter. Cullen Capital Management LLC now owns 1,145,111 shares of the pipeline company's stock valued at $62,076,000 after buying an additional 22,334 shares during the period. Algert Global LLC grew its stake in shares of Enbridge by 8.0% during the 2nd quarter. Algert Global LLC now owns 7,327 shares of the pipeline company's stock valued at $397,000 after buying an additional 545 shares during the period. Finally, OMERS ADMINISTRATION Corp increased its holdings in shares of Enbridge by 47.5% during the 2nd quarter. OMERS ADMINISTRATION Corp now owns 737,678 shares of the pipeline company's stock worth $39,989,000 after buying an additional 237,678 shares during the last quarter. 54.60% of the stock is currently owned by hedge funds and other institutional investors.
Enbridge Stock Down 0.8%
Shares of Enbridge stock opened at $50.08 on Tuesday. Enbridge Inc has a twelve month low of $45.03 and a twelve month high of $58.45. The stock has a market cap of $109.37 billion, a price-to-earnings ratio of 26.78 and a beta of 0.58. 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 company has a fifty day moving average price of $54.02 and a 200 day moving average price of $54.04.
Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last released its quarterly earnings data on Friday, July 31st. The pipeline company reported $0.46 EPS for the quarter, beating the consensus estimate of $0.43 by $0.03. The company had revenue of $9.70 billion for the quarter, compared to analyst estimates of $8.67 billion. Enbridge had a return on equity of 11.17% and a net margin of 7.20%.During the same period last year, the company posted $0.65 earnings per share. Equities research analysts forecast that Enbridge Inc will post 2.11 earnings per share for the current fiscal year.
Enbridge Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Friday, August 14th will be issued a dividend of $0.97 per share. This represents a $3.88 annualized dividend and a dividend yield of 7.7%. The ex-dividend date is Friday, August 14th. Enbridge's dividend payout ratio (DPR) is presently 147.06%.
Wall Street Analysts Forecast Growth
Several brokerages recently weighed in on ENB. Wolfe Research set a $50.00 target price on Enbridge in a research report on Tuesday, August 4th. BMO Capital Markets restated a "market perform" rating on shares of Enbridge in a research note on Monday, August 3rd. Scotiabank restated an "outperform" rating on shares of Enbridge in a report on Tuesday, July 21st. Raymond James Financial lowered Enbridge from an "outperform" rating to a "market perform" rating in a research note on Friday, July 31st. Finally, TD Securities reiterated a "hold" rating on shares of Enbridge in a report on Thursday, July 16th. Five analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat.com, Enbridge has an average rating of "Hold" and an average target price of $67.00.
Read Our Latest Stock Report on Enbridge
About Enbridge
(
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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