Everett Harris & Co. CA acquired a new position in Enbridge Inc (NYSE:ENB – Free Report) (TSE:ENB) during the second quarter, Holdings Channel reports. The institutional investor acquired 36,123 shares of the pipeline company’s stock, valued at approximately $1,958,000.
A number of other institutional investors have also made changes to their positions in ENB. Arlington Trust Co LLC boosted its stake in Enbridge by 114.6% during the 2nd quarter. Arlington Trust Co LLC now owns 500 shares of the pipeline company’s stock valued at $27,000 after purchasing an additional 267 shares during the period. Triumph Capital Management bought a new position in Enbridge in the 3rd quarter worth approximately $26,000. Turning Point Benefit Group Inc. bought a new position in Enbridge in the 3rd quarter worth approximately $28,000. Inspire Investing LLC bought a new position in Enbridge in the 4th quarter worth approximately $29,000. Finally, Imprint Wealth LLC acquired a new position in shares of Enbridge during the third quarter worth approximately $31,000. 54.60% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
Several research firms have recently weighed in on ENB. Royal Bank Of Canada increased their price objective on Enbridge from $79.00 to $84.00 and gave the company an “outperform” rating in a research report on Monday, August 3rd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Enbridge in a research report on Friday, May 22nd. Wall Street Zen upgraded shares of Enbridge from a “sell” rating to a “hold” rating in a research note on Sunday, July 12th. Canadian Imperial Bank of Commerce reiterated a “neutral” rating on shares of Enbridge in a research note on Monday, May 11th. Finally, TD Securities reissued a “hold” rating on shares of Enbridge in a report on Thursday, July 16th. Four analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $67.00.
Enbridge Trading Down 0.8%
Shares of ENB opened at $50.89 on Friday. Enbridge Inc has a 12-month low of $45.03 and a 12-month high of $58.45. The company has a quick ratio of 0.66, a current ratio of 0.72 and a debt-to-equity ratio of 1.69. The firm has a market capitalization of $111.15 billion, a price-to-earnings ratio of 27.22 and a beta of 0.58. The stock’s 50-day moving average price is $54.67 and its 200 day moving average price is $53.91.
Enbridge (NYSE:ENB – Get Free Report) (TSE:ENB) last posted its quarterly earnings results on Friday, July 31st. The pipeline company reported $0.46 EPS for the quarter, beating the consensus estimate 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 analysts’ expectations of $8.67 billion. During the same quarter in the prior year, the firm posted $0.65 EPS. As a group, research analysts predict that Enbridge Inc will post 2.11 earnings per share for the current year.
Enbridge Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Friday, August 14th will be given 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 payout ratio is currently 152.41%.
About Enbridge
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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