Fort Washington Investment Advisors Inc. OH lifted its stake in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 13.3% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 22,783 shares of the pipeline company’s stock after acquiring an additional 2,676 shares during the period. Fort Washington Investment Advisors Inc. OH’s holdings in Enbridge were worth $907,000 at the end of the most recent reporting period.
Other hedge funds also recently modified their holdings of the company. First Personal Financial Services bought a new position in shares of Enbridge in the 1st quarter valued at approximately $102,000. Monroe Bank & Trust MI bought a new position in shares of Enbridge in the 1st quarter valued at approximately $105,000. Kistler Tiffany Companies LLC bought a new position in shares of Enbridge in the 1st quarter valued at approximately $109,000. NEXT Financial Group Inc raised its stake in shares of Enbridge by 17.7% in the 2nd quarter. NEXT Financial Group Inc now owns 2,731 shares of the pipeline company’s stock valued at $109,000 after acquiring an additional 411 shares in the last quarter. Finally, Welch Group LLC bought a new position in shares of Enbridge in the 2nd quarter valued at approximately $121,000. 61.61% of the stock is currently owned by institutional investors and hedge funds.
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ENB has been the topic of several recent analyst reports. Zacks Investment Research downgraded Enbridge from a “hold” rating to a “sell” rating in a research report on Tuesday, July 11th. J P Morgan Chase & Co reaffirmed a “neutral” rating on shares of Enbridge in a research report on Friday, June 23rd. BidaskClub raised Enbridge from a “strong sell” rating to a “sell” rating in a research report on Saturday, June 24th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and issued a $44.00 price target (down from $45.00) on shares of Enbridge in a research report on Friday, July 14th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $54.67.
Shares of Enbridge Inc (ENB) opened at 41.13 on Friday. Enbridge Inc has a one year low of $37.37 and a one year high of $45.09. The stock’s 50 day moving average price is $40.47 and its 200 day moving average price is $40.54. The firm has a market cap of $67.69 billion, a price-to-earnings ratio of 33.22 and a beta of 0.63.
Enbridge (NYSE:ENB) (TSE:ENB) last announced its earnings results on Thursday, August 3rd. The pipeline company reported $0.30 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.35 by ($0.05). The firm had revenue of $8.26 billion for the quarter, compared to the consensus estimate of $8.81 billion. Enbridge had a return on equity of 6.04% and a net margin of 5.28%. During the same quarter last year, the business posted $0.50 EPS. On average, equities analysts anticipate that Enbridge Inc will post $1.68 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Tuesday, August 15th were paid a dividend of $0.489 per share. The ex-dividend date of this dividend was Friday, August 11th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 4.76%. This is a positive change from Enbridge’s previous quarterly dividend of $0.33. Enbridge’s dividend payout ratio (DPR) is 190.29%.
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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