Blair William & Co. IL increased its position in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 45.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 117,047 shares of the pipeline company’s stock after buying an additional 36,352 shares during the period. Blair William & Co. IL’s holdings in Enbridge were worth $4,660,000 as of its most recent SEC filing.
A number of other large investors also recently made changes to their positions in ENB. Goelzer Investment Management Inc. bought a new stake in shares of Enbridge during the first quarter worth $4,602,000. Meyer Handelman Co. bought a new stake in shares of Enbridge during the first quarter worth $7,364,000. Tdam USA Inc. bought a new stake in shares of Enbridge during the first quarter worth $970,000. Tealwood Asset Management Inc. bought a new stake in shares of Enbridge during the first quarter worth $4,678,000. Finally, Schmidt P J Investment Management Inc. boosted its stake in shares of Enbridge by 93.3% in the first quarter. Schmidt P J Investment Management Inc. now owns 60,722 shares of the pipeline company’s stock worth $2,541,000 after buying an additional 29,304 shares during the period. 63.37% of the stock is owned by hedge funds and other institutional investors.
Shares of Enbridge Inc (ENB) opened at 39.91 on Wednesday. Enbridge Inc has a one year low of $37.37 and a one year high of $45.77. The stock has a market capitalization of $65.68 billion, a PE ratio of 32.71 and a beta of 0.62. The stock has a 50 day moving average of $40.58 and a 200-day moving average of $40.77.
Enbridge (NYSE:ENB) (TSE:ENB) last posted its earnings results on Thursday, August 3rd. The pipeline company reported $0.30 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.35 by $0.05. Enbridge had a return on equity of 6.04% and a net margin of 5.28%. The firm had revenue of $8.26 billion during the quarter, compared to the consensus estimate of $8.81 billion. During the same period in the previous year, the company posted $0.50 EPS. Equities analysts predict that Enbridge Inc will post $1.58 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Tuesday, August 15th will be issued a $0.489 dividend. This is a positive change from Enbridge’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend is Friday, August 11th. This represents a $1.96 annualized dividend and a dividend yield of 4.90%. Enbridge’s dividend payout ratio is presently 190.29%.
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A number of equities research analysts recently weighed in on ENB shares. Wolfe Research started coverage on shares of Enbridge in a research report on Friday, May 12th. They issued a “market perform” rating and a $43.00 price target for the company. BidaskClub cut shares of Enbridge from a “sell” rating to a “strong sell” rating in a research report on Friday, August 11th. Zacks Investment Research cut shares of Enbridge from a “hold” rating to a “sell” rating in a report on Tuesday, July 11th. J P Morgan Chase & Co reaffirmed a “neutral” rating on shares of Enbridge in a report on Friday, June 23rd. Finally, Morgan Stanley started coverage on shares of Enbridge in a report on Tuesday, May 2nd. They issued an “equal weight” rating and a $45.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and eight have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $54.00.
Enbridge Company Profile
Enbridge Inc is a Canada-based energy transportation and distribution company. The Company is engaged in delivering energy. It operates through five segments: Liquids Pipelines, Gas Distribution, Gas Pipelines and Processing, Green Power and Transmission, and Energy Services. Liquids Pipelines consists of common carrier and contract crude oil, natural gas liquids (NGL), and refined products pipelines and terminals, including Canadian Mainline, Lakehead Pipeline System, Mid-Continent and Gulf Coast and Regional Oil Sands System.
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