Beck Mack & Oliver LLC reduced its stake in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 3.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 588,376 shares of the pipeline company’s stock after selling 21,471 shares during the period. Beck Mack & Oliver LLC’s holdings in Enbridge were worth $23,423,000 at the end of the most recent reporting period.
Several other institutional investors have also made changes to their positions in ENB. Raymond James Trust N.A. acquired a new position in shares of Enbridge during the first quarter valued at approximately $1,457,000. Cardinal Capital Management Inc. increased its stake in Enbridge by 4.3% in the first quarter. Cardinal Capital Management Inc. now owns 979,413 shares of the pipeline company’s stock worth $40,957,000 after buying an additional 40,279 shares in the last quarter. Catawba Capital Management VA purchased a new stake in Enbridge during the first quarter worth approximately $696,000. CENTRAL TRUST Co purchased a new stake in Enbridge during the first quarter worth approximately $2,390,000. Finally, Fruth Investment Management purchased a new stake in Enbridge during the first quarter worth approximately $950,000. Institutional investors and hedge funds own 63.83% of the company’s stock.
Enbridge Inc (NYSE ENB) traded up 0.14% during trading on Friday, hitting $39.47. The company had a trading volume of 2,015,913 shares. The stock has a market capitalization of $64.96 billion, a price-to-earnings ratio of 31.96 and a beta of 0.62. Enbridge Inc has a 52-week low of $37.37 and a 52-week high of $45.77. The firm’s 50 day moving average is $40.66 and its 200-day moving average is $40.98.
Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings results on Thursday, August 3rd. The pipeline company reported $0.30 earnings per share (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 for the quarter, compared to analyst estimates of $8.81 billion. During the same quarter last year, the firm earned $0.50 earnings per share. On average, equities analysts forecast that Enbridge Inc will post $1.57 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Tuesday, August 15th will be paid a dividend of $0.489 per share. This represents a $1.96 dividend on an annualized basis and a dividend yield of 4.96%. This is a positive change from Enbridge’s previous quarterly dividend of $0.33. The ex-dividend date is Friday, August 11th. Enbridge’s payout ratio is 173.79%.
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Several brokerages have weighed in on ENB. J P Morgan Chase & Co reissued a “neutral” rating on shares of Enbridge in a research note on Friday, June 23rd. Wolfe Research started coverage on Enbridge in a research note on Friday, May 12th. They set a “market perform” rating and a $43.00 target price on the stock. Morgan Stanley reaffirmed an “equal weight” rating and set a $44.00 target price (down previously from $45.00) on shares of Enbridge in a research note on Friday, July 14th. Zacks Investment Research cut Enbridge from a “hold” rating to a “sell” rating in a research note on Tuesday, July 11th. Finally, BidaskClub raised Enbridge from a “strong sell” rating to a “sell” rating in a research note on Saturday, June 24th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $54.00.
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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