Exchange Traded Concepts LLC lowered its position in shares of Enbridge Inc (NYSE:ENB – Free Report) (TSE:ENB) by 7.2% in the second quarter, Holdings Channel.com reports. The fund owned 1,143,910 shares of the pipeline company’s stock after selling 89,348 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Enbridge were worth $62,011,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also made changes to their positions in ENB. Retirement Planning Group LLC increased its position in shares of Enbridge by 3.6% during the first quarter. Retirement Planning Group LLC now owns 5,357 shares of the pipeline company’s stock worth $290,000 after purchasing an additional 187 shares in the last quarter. Bank & Trust Co lifted its holdings in Enbridge by 0.6% in the 2nd quarter. Bank & Trust Co now owns 33,276 shares of the pipeline company’s stock valued at $1,804,000 after purchasing an additional 193 shares in the last quarter. PFG Investments LLC lifted its holdings in Enbridge by 0.9% in the 1st quarter. PFG Investments LLC now owns 22,208 shares of the pipeline company’s stock valued at $1,202,000 after purchasing an additional 202 shares in the last quarter. MIdWestOne Financial Group Inc. boosted its stake in Enbridge by 4.3% during the 4th quarter. MIdWestOne Financial Group Inc. now owns 4,906 shares of the pipeline company’s stock worth $235,000 after purchasing an additional 203 shares during the last quarter. Finally, Clearwave Capital LLC boosted its stake in Enbridge by 0.9% during the 2nd quarter. Clearwave Capital LLC now owns 22,033 shares of the pipeline company’s stock worth $1,194,000 after purchasing an additional 204 shares during the last quarter. Hedge funds and other institutional investors own 54.60% of the company’s stock.
Analyst Ratings Changes
A number of equities research analysts have recently commented on ENB shares. TD Securities reiterated a “hold” rating on shares of Enbridge in a research report on Thursday, July 16th. BMO Capital Markets restated a “market perform” rating on shares of Enbridge in a research report on Monday, August 3rd. Wall Street Zen upgraded shares of Enbridge from a “sell” rating to a “hold” rating in a report on Sunday, July 12th. Raymond James Financial lowered shares of Enbridge from an “outperform” rating to a “market perform” rating in a research note on Friday, July 31st. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Enbridge in a research report on Friday, May 22nd. Four investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat.com, Enbridge presently has an average rating of “Hold” and an average target price of $67.00.
Enbridge Trading Down 0.3%
Shares of ENB opened at $51.30 on Friday. The company has a current ratio of 0.72, a quick ratio of 0.66 and a debt-to-equity ratio of 1.69. Enbridge Inc has a 12-month low of $45.03 and a 12-month high of $58.45. The firm has a 50-day moving average price of $54.77 and a 200 day moving average price of $53.93. The firm has a market capitalization of $112.03 billion, a P/E ratio of 27.43 and a beta of 0.58.
Enbridge (NYSE:ENB – Get Free Report) (TSE:ENB) last released its quarterly earnings data on Friday, July 31st. The pipeline company reported $0.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.03. Enbridge had a net margin of 7.20% and a return on equity of 11.17%. The firm had revenue of $9.70 billion during the quarter, compared to analysts’ expectations of $8.67 billion. During the same period last year, the business earned $0.65 earnings per share. Sell-side analysts forecast that Enbridge Inc will post 2.11 EPS for the current year.
Enbridge Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Friday, August 14th will be issued a dividend of $0.97 per share. The ex-dividend date is Friday, August 14th. This represents a $3.88 dividend on an annualized basis and a dividend yield of 7.6%. Enbridge’s dividend payout ratio (DPR) is currently 152.41%.
Enbridge 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.
Featured Stories
- Five stocks we like better than Enbridge
- Asian Market Circuit Breakers Hit Stocks, Not AI Demand
- Riot Platforms Re-Wires the Ledger for a $9B AI Power Play
- Nebius Just Exploded 34% on Blowout Earnings—Is It Time to Buy?
- Joby’s Defense Pivot Accelerates With $500M Resonant Sciences Deal
Want to see what other hedge funds are holding ENB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Enbridge Inc (NYSE:ENB – Free Report) (TSE:ENB).
Receive News & Ratings for Enbridge Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Enbridge and related companies with MarketBeat.com's FREE daily email newsletter.
