Vise Technologies Inc. boosted its stake in shares of Enbridge Inc (NYSE:ENB – Free Report) (TSE:ENB) by 101.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 117,275 shares of the pipeline company’s stock after acquiring an additional 59,158 shares during the quarter. Vise Technologies Inc.’s holdings in Enbridge were worth $6,357,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently made changes to their positions in the company. Triumph Capital Management acquired a new stake in shares of Enbridge during the 3rd quarter worth about $26,000. Arlington Trust Co LLC grew its stake in Enbridge by 114.6% during the second quarter. Arlington Trust Co LLC now owns 500 shares of the pipeline company’s stock worth $27,000 after buying an additional 267 shares during the last quarter. Turning Point Benefit Group Inc. acquired a new stake in shares of Enbridge during the third quarter worth approximately $28,000. Inspire Investing LLC bought a new position in shares of Enbridge in the fourth quarter valued at approximately $29,000. Finally, Garner Asset Management Corp bought a new position in shares of Enbridge in the fourth quarter valued at approximately $30,000. Institutional investors and hedge funds own 54.60% of the company’s stock.
Wall Street Analyst Weigh In
A number of equities research analysts recently commented on the company. TD Securities restated a “hold” rating on shares of Enbridge in a research report on Thursday, July 16th. Scotiabank reiterated an “outperform” rating on shares of Enbridge in a research report on Tuesday, July 21st. Canadian Imperial Bank of Commerce reissued a “neutral” rating on shares of Enbridge in a research note on Monday, May 11th. BMO Capital Markets restated a “market perform” rating on shares of Enbridge in a report on Monday, August 3rd. Finally, Wolfe Research set a $50.00 target price on Enbridge in a research note on Tuesday, August 4th. Four equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $67.00.
Enbridge Price Performance
Shares of ENB stock opened at $51.07 on Friday. Enbridge Inc has a 1 year low of $45.03 and a 1 year high of $58.45. The firm’s 50 day moving average is $54.26 and its 200-day moving average is $54.02. The firm has a market capitalization of $111.54 billion, a price-to-earnings ratio of 27.31 and a beta of 0.58. 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 (NYSE:ENB – Get Free Report) (TSE:ENB) last released 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. The business had revenue of $9.70 billion for the quarter, compared to analysts’ expectations of $8.67 billion. Enbridge had a net margin of 7.20% and a return on equity of 11.17%. During the same period in the prior year, the firm earned $0.65 earnings per share. Sell-side analysts forecast that Enbridge Inc will post 2.11 EPS for the current fiscal year.
Enbridge Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Friday, August 14th will be given a $0.97 dividend. This represents a $3.88 dividend on an annualized basis and a yield of 7.6%. The ex-dividend date is Friday, August 14th. Enbridge’s dividend payout ratio (DPR) is presently 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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