US Bancorp DE cut its stake in Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB by 3.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 383,797 shares of the pipeline company's stock after selling 15,637 shares during the period. US Bancorp DE's holdings in Enbridge were worth $17,006,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Wealthquest Corp acquired a new position in Enbridge in the 1st quarter valued at $203,000. Brentview Investment Management LLC acquired a new position in Enbridge in the 1st quarter valued at $41,000. Sound View Wealth Advisors Group LLC raised its holdings in Enbridge by 4.8% in the 1st quarter. Sound View Wealth Advisors Group LLC now owns 5,304 shares of the pipeline company's stock valued at $235,000 after acquiring an additional 243 shares in the last quarter. Davis R M Inc. raised its holdings in Enbridge by 12.0% in the 1st quarter. Davis R M Inc. now owns 5,598 shares of the pipeline company's stock valued at $248,000 after acquiring an additional 600 shares in the last quarter. Finally, CAP Partners LLC raised its holdings in Enbridge by 3.0% in the 1st quarter. CAP Partners LLC now owns 10,679 shares of the pipeline company's stock valued at $473,000 after acquiring an additional 311 shares in the last quarter. 54.60% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
ENB has been the subject of several analyst reports. National Bankshares reaffirmed a "sector perform" rating on shares of Enbridge in a report on Monday, May 12th. Royal Bank Of Canada reissued an "outperform" rating and set a $67.00 price target on shares of Enbridge in a report on Monday, May 12th. BMO Capital Markets reissued a "market perform" rating on shares of Enbridge in a report on Monday, May 12th. Jefferies Financial Group raised Enbridge from a "hold" rating to a "buy" rating in a report on Wednesday, July 23rd. Finally, Raymond James Financial raised Enbridge to a "moderate buy" rating in a report on Wednesday, April 23rd. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $67.00.
View Our Latest Research Report on Enbridge
Enbridge Trading Up 2.0%
Shares of ENB stock opened at $46.18 on Friday. The firm has a market capitalization of $100.69 billion, a P/E ratio of 22.75, a P/E/G ratio of 4.30 and a beta of 0.79. Enbridge Inc has a twelve month low of $36.50 and a twelve month high of $47.44. The company has a quick ratio of 0.66, a current ratio of 0.73 and a debt-to-equity ratio of 1.51. The stock's fifty day simple moving average is $45.39 and its 200 day simple moving average is $44.55.
Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last issued its quarterly earnings data on Friday, August 1st. The pipeline company reported $0.47 earnings per share for the quarter, topping analysts' consensus estimates of $0.41 by $0.06. The business had revenue of $7.14 billion for the quarter, compared to analyst estimates of $10.56 billion. Enbridge had a return on equity of 10.41% and a net margin of 10.16%. During the same quarter in the previous year, the company posted $0.58 EPS. As a group, sell-side analysts predict that Enbridge Inc will post 2.14 EPS for the current fiscal year.
Enbridge Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 1st. Investors of record on Friday, August 15th will be given a dividend of $0.6839 per share. The ex-dividend date is Friday, August 15th. This represents a $2.74 dividend on an annualized basis and a yield of 5.9%. This is an increase from Enbridge's previous quarterly dividend of $0.68. Enbridge's dividend payout ratio is presently 140.21%.
About Enbridge
(
Free Report)
Enbridge Inc, together with its subsidiaries, operates as an energy infrastructure company. The company operates through five segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution and Storage, Renewable Power Generation, and Energy Services. The Liquids Pipelines segment operates pipelines and related terminals to transport various grades of crude oil and other liquid hydrocarbons in Canada and the United States.
See Also
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