Thomasville National Bank acquired a new position in Enbridge Inc (NYSE:ENB – Free Report) (TSE:ENB) during the 2nd quarter, HoldingsChannel.com reports. The fund acquired 880,638 shares of the pipeline company’s stock, valued at approximately $47,739,000. Enbridge accounts for approximately 2.6% of Thomasville National Bank’s portfolio, making the stock its 10th biggest holding.
Several other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its position in Enbridge by 2.1% during the fourth quarter. Vanguard Group Inc. now owns 100,364,993 shares of the pipeline company’s stock worth $4,802,766,000 after acquiring an additional 2,067,516 shares during the period. RNC Capital Management LLC raised its holdings in Enbridge by 1.6% in the 4th quarter. RNC Capital Management LLC now owns 1,446,697 shares of the pipeline company’s stock valued at $69,196,000 after acquiring an additional 22,637 shares in the last quarter. Intact Investment Management Inc. lifted its position in shares of Enbridge by 22.8% during the 4th quarter. Intact Investment Management Inc. now owns 987,976 shares of the pipeline company’s stock valued at $47,275,000 after acquiring an additional 183,163 shares during the period. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT lifted its position in shares of Enbridge by 19.9% during the 4th quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 601,500 shares of the pipeline company’s stock valued at $28,770,000 after acquiring an additional 100,000 shares during the period. Finally, Western Wealth Management LLC grew its holdings in shares of Enbridge by 346.8% during the 1st quarter. Western Wealth Management LLC now owns 36,190 shares of the pipeline company’s stock worth $1,959,000 after purchasing an additional 28,091 shares in the last quarter. 54.60% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
ENB has been the subject of a number of analyst reports. Royal Bank Of Canada boosted their price target on Enbridge from $79.00 to $84.00 and gave the company an “outperform” rating in a research note on Monday, August 3rd. Wall Street Zen upgraded shares of Enbridge from a “sell” rating to a “hold” rating in a research note on Sunday, July 12th. Scotiabank reissued an “outperform” rating on shares of Enbridge in a report on Tuesday, July 21st. Weiss Ratings reiterated a “buy (b)” rating on shares of Enbridge in a research report on Friday, May 22nd. Finally, Wolfe Research set a $50.00 price objective on shares of Enbridge in a research note on Tuesday, August 4th. Four equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat.com, Enbridge has a consensus rating of “Hold” and a consensus target price of $67.00.
Enbridge Stock Performance
NYSE:ENB opened at $51.44 on Thursday. The stock’s 50-day simple moving average is $54.88 and its 200 day simple moving average is $53.91. The firm has a market capitalization of $112.35 billion, a PE ratio of 27.51 and a beta of 0.58. The company has a quick ratio of 0.66, a current ratio of 0.72 and a debt-to-equity ratio of 1.69. Enbridge Inc has a twelve month low of $45.03 and a twelve month high of $58.45.
Enbridge (NYSE:ENB – Get Free Report) (TSE:ENB) last released its earnings results on Friday, July 31st. The pipeline company reported $0.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.03. The firm had revenue of $9.70 billion for the quarter, compared to analysts’ expectations of $8.67 billion. Enbridge had a return on equity of 11.17% and a net margin of 7.20%.During the same quarter in the previous year, the business posted $0.65 earnings per share. On average, analysts anticipate that Enbridge Inc will post 2.1 EPS for the current fiscal year.
Enbridge Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Friday, August 14th will be given a dividend of $0.97 per share. This represents a $3.88 dividend on an annualized basis and a yield of 7.5%. The ex-dividend date is Friday, August 14th. Enbridge’s dividend payout ratio is currently 147.06%.
Enbridge Company Profile
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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