Huntington National Bank lowered its holdings in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 5.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 57,402 shares of the pipeline company’s stock after selling 3,161 shares during the quarter. Huntington National Bank’s holdings in Enbridge were worth $1,746,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds have also added to or reduced their stakes in the company. Johnson Financial Group Inc. lifted its position in Enbridge by 112.3% during the first quarter. Johnson Financial Group Inc. now owns 930 shares of the pipeline company’s stock valued at $27,000 after purchasing an additional 492 shares during the last quarter. TCI Wealth Advisors Inc. lifted its position in Enbridge by 116.1% during the second quarter. TCI Wealth Advisors Inc. now owns 1,031 shares of the pipeline company’s stock valued at $31,000 after purchasing an additional 554 shares during the last quarter. MBE Wealth Management LLC bought a new position in Enbridge during the first quarter valued at $33,000. Creative Financial Designs Inc. ADV raised its stake in shares of Enbridge by 782.6% in the second quarter. Creative Financial Designs Inc. ADV now owns 1,165 shares of the pipeline company’s stock valued at $35,000 after acquiring an additional 1,033 shares during the period. Finally, Allworth Financial LP raised its stake in shares of Enbridge by 33.9% in the first quarter. Allworth Financial LP now owns 1,409 shares of the pipeline company’s stock valued at $41,000 after acquiring an additional 357 shares during the period. Institutional investors and hedge funds own 54.64% of the company’s stock.
Several brokerages have recently weighed in on ENB. Raymond James reissued a “buy” rating and issued a $55.00 target price on shares of Enbridge in a research note on Thursday. Tudor Pickering reissued a “buy” rating and issued a $50.00 target price on shares of Enbridge in a research note on Tuesday, July 28th. Wells Fargo & Co downgraded shares of Enbridge from an “overweight” rating to an “equal weight” rating and set a $51.00 target price on the stock. in a research note on Wednesday, July 22nd. Stifel Nicolaus increased their target price on shares of Enbridge from $60.00 to $61.00 and gave the company a “buy” rating in a research note on Friday, May 8th. Finally, JPMorgan Chase & Co. raised shares of Enbridge from a “neutral” rating to an “overweight” rating and set a $56.00 target price on the stock in a research note on Wednesday, April 8th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and fifteen have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $51.59.
Shares of NYSE:ENB traded down $0.20 during trading on Friday, reaching $32.00. The stock had a trading volume of 2,646,005 shares, compared to its average volume of 2,689,048. Enbridge Inc has a one year low of $22.57 and a one year high of $43.15. The company has a market capitalization of $64.81 billion, a P/E ratio of 45.71, a PEG ratio of 1.71 and a beta of 0.83. The company has a current ratio of 0.61, a quick ratio of 0.53 and a debt-to-equity ratio of 1.02. The firm’s 50-day simple moving average is $30.73 and its 200 day simple moving average is $33.26.
Enbridge (NYSE:ENB) (TSE:ENB) last released its earnings results on Wednesday, July 29th. The pipeline company reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.15. The company had revenue of $5.78 billion during the quarter, compared to analysts’ expectations of $8.54 billion. Enbridge had a net margin of 5.17% and a return on equity of 8.61%. During the same period last year, the business earned $0.67 EPS. Equities research analysts forecast that Enbridge Inc will post 1.97 earnings per share for the current fiscal year.
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 paid a $0.6021 dividend. The ex-dividend date is Thursday, August 13th. This is a boost from Enbridge’s previous quarterly dividend of $0.57. This represents a $2.41 dividend on an annualized basis and a yield of 7.53%. Enbridge’s dividend payout ratio (DPR) is 115.00%.
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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