Cardinal Capital Management Inc. lessened its holdings in shares of Enbridge Inc (NYSE:ENB – Free Report) (TSE:ENB) by 3.2% during the 2nd quarter, HoldingsChannel reports. The firm owned 419,175 shares of the pipeline company’s stock after selling 13,970 shares during the period. Cardinal Capital Management Inc.’s holdings in Enbridge were worth $22,686,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of the business. Brighton Jones LLC bought a new stake in Enbridge during the 4th quarter worth approximately $261,000. AQR Capital Management LLC boosted its position in shares of Enbridge by 68.5% during the first quarter. AQR Capital Management LLC now owns 28,533 shares of the pipeline company’s stock worth $1,264,000 after buying an additional 11,599 shares during the period. AXA S.A. grew its holdings in shares of Enbridge by 15.5% during the second quarter. AXA S.A. now owns 113,887 shares of the pipeline company’s stock worth $5,161,000 after buying an additional 15,259 shares in the last quarter. Diversify Advisory Services LLC grew its holdings in shares of Enbridge by 93.1% during the second quarter. Diversify Advisory Services LLC now owns 22,016 shares of the pipeline company’s stock worth $1,042,000 after buying an additional 10,617 shares in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its position in Enbridge by 80.1% in the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 78,507 shares of the pipeline company’s stock valued at $3,553,000 after buying an additional 34,912 shares during the last quarter. 54.60% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
ENB has been the topic of several research reports. TD Securities restated a “hold” rating on shares of Enbridge in a research note on Thursday, July 16th. Raymond James Financial cut shares of Enbridge from an “outperform” rating to a “market perform” rating in a research note on Friday, July 31st. Canadian Imperial Bank of Commerce reiterated a “neutral” rating on shares of Enbridge in a report on Monday, May 11th. Weiss Ratings reissued a “buy (b)” rating on shares of Enbridge in a research report on Friday, May 22nd. Finally, Scotiabank restated an “outperform” rating on shares of Enbridge in a report on Tuesday, July 21st. Four investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $67.00.
Enbridge Stock Performance
ENB opened at $51.60 on Wednesday. The business’s 50-day simple moving average is $54.97 and its 200 day simple moving average is $53.88. Enbridge Inc has a 52-week low of $45.03 and a 52-week high of $58.45. The company has a debt-to-equity ratio of 1.69, a quick ratio of 0.66 and a current ratio of 0.72. The firm has a market capitalization of $112.71 billion, a PE ratio of 27.60 and a beta of 0.58.
Enbridge (NYSE:ENB – Get Free Report) (TSE:ENB) last posted its quarterly earnings results on Friday, July 31st. The pipeline company reported $0.46 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.03. Enbridge had a return on equity of 11.17% and a net margin of 7.20%.The firm had revenue of $9.70 billion during the quarter, compared to the consensus estimate of $8.67 billion. During the same period last year, the company earned $0.65 earnings per share. As a group, sell-side analysts expect that Enbridge Inc will post 2.1 earnings per share for the current fiscal year.
Enbridge Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Friday, August 14th will be given a dividend of $0.97 per share. This represents a $3.88 annualized dividend and a yield of 7.5%. The ex-dividend date of this dividend is Friday, August 14th. Enbridge’s dividend payout ratio is 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.
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