Sterling Capital Management LLC boosted its holdings in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 0.3% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,256,594 shares of the pipeline company’s stock after purchasing an additional 7,830 shares during the period. Sterling Capital Management LLC owned about 0.11% of Enbridge worth $81,418,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Manchester Financial Inc. bought a new stake in shares of Enbridge during the 2nd quarter worth $25,000. Westside Investment Management Inc. bought a new stake in shares of Enbridge during the 2nd quarter worth $25,000. SRS Capital Advisors Inc. bought a new stake in shares of Enbridge during the 2nd quarter worth $35,000. Cascade Investment Advisors Inc. bought a new stake in shares of Enbridge during the 2nd quarter worth $36,000. Finally, Northern Oak Wealth Management Inc. bought a new stake in shares of Enbridge during the 2nd quarter worth $36,000. Hedge funds and other institutional investors own 53.82% of the company’s stock.
Shares of NYSE:ENB traded up $0.26 during midday trading on Monday, hitting $35.16. 2,584,410 shares of the stock were exchanged, compared to its average volume of 3,334,908. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.53 and a current ratio of 0.63. Enbridge Inc has a 52-week low of $28.82 and a 52-week high of $38.04. The business’s fifty day simple moving average is $33.60 and its two-hundred day simple moving average is $35.74. The company has a market capitalization of $71.49 billion, a PE ratio of 17.15, a P/E/G ratio of 2.67 and a beta of 0.57.
Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings data on Friday, August 2nd. The pipeline company reported $0.50 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.42 by $0.08. Enbridge had a return on equity of 8.16% and a net margin of 9.97%. The business had revenue of $9.92 billion during the quarter. As a group, equities analysts anticipate that Enbridge Inc will post 1.93 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Thursday, August 15th were issued a dividend of $0.559 per share. This is a positive change from Enbridge’s previous quarterly dividend of $0.52. This represents a $2.24 annualized dividend and a yield of 6.36%. The ex-dividend date was Wednesday, August 14th. Enbridge’s dividend payout ratio (DPR) is 107.80%.
Several equities research analysts have recently weighed in on ENB shares. Bank of America lowered Enbridge from a “buy” rating to a “neutral” rating and set a $49.00 price objective for the company. in a research note on Tuesday, July 2nd. ValuEngine lowered Enbridge from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. Wolfe Research lowered Enbridge from an “outperform” rating to a “peer perform” rating and set a $37.00 target price for the company. in a report on Thursday, June 13th. Finally, Goldman Sachs Group initiated coverage on Enbridge in a report on Thursday, July 18th. They issued a “neutral” rating for the company. One analyst has rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $43.75.
Enbridge Company Profile
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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