DekaBank Deutsche Girozentrale decreased its stake in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 5.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 964,158 shares of the pipeline company’s stock after selling 56,048 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Enbridge were worth $38,500,000 at the end of the most recent quarter.
Several other institutional investors have also bought and sold shares of the stock. Jones Collombin Investment Counsel Inc raised its position in Enbridge by 11.0% in the second quarter. Jones Collombin Investment Counsel Inc now owns 60,066 shares of the pipeline company’s stock valued at $2,394,000 after buying an additional 5,955 shares during the period. Carnick & Kubik Group LLC raised its position in Enbridge by 7.3% in the second quarter. Carnick & Kubik Group LLC now owns 22,349 shares of the pipeline company’s stock valued at $890,000 after buying an additional 1,515 shares during the period. Wetherby Asset Management Inc. raised its position in Enbridge by 1.9% in the second quarter. Wetherby Asset Management Inc. now owns 37,163 shares of the pipeline company’s stock valued at $1,480,000 after buying an additional 701 shares during the period. Canada Pension Plan Investment Board raised its position in Enbridge by 21,506.2% in the second quarter. Canada Pension Plan Investment Board now owns 456,971 shares of the pipeline company’s stock valued at $18,188,000 after buying an additional 454,856 shares during the period. Finally, Summit Financial Group Inc. acquired a new position in Enbridge during the second quarter valued at $314,000. Institutional investors own 63.83% of the company’s stock.
Enbridge Inc (ENB) opened at 39.90 on Friday. Enbridge Inc has a one year low of $37.37 and a one year high of $45.77. The firm has a market capitalization of $65.67 billion, a PE ratio of 32.31 and a beta of 0.62. The firm has a 50 day moving average of $40.65 and a 200 day moving average of $41.00.
Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings data on Thursday, August 3rd. The pipeline company reported $0.30 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.35 by $0.05. Enbridge had a net margin of 5.28% and a return on equity of 6.04%. The business had revenue of $8.26 billion during the quarter, compared to analyst estimates of $8.81 billion. During the same quarter in the prior year, the firm posted $0.50 earnings per share. Equities analysts forecast that Enbridge Inc will post $1.57 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Tuesday, August 15th will be given a $0.489 dividend. The ex-dividend date of this dividend is Friday, August 11th. This is a positive change from Enbridge’s previous quarterly dividend of $0.33. This represents a $1.96 annualized dividend and a dividend yield of 4.90%. Enbridge’s payout ratio is currently 173.79%.
Several equities analysts have recently weighed in on the stock. Morgan Stanley restated an “equal weight” rating and set a $44.00 price objective (down previously from $45.00) on shares of Enbridge in a research report on Friday, July 14th. Zacks Investment Research lowered shares of Enbridge from a “hold” rating to a “sell” rating in a research report on Tuesday, July 11th. BidaskClub upgraded shares of Enbridge from a “strong sell” rating to a “sell” rating in a research report on Saturday, June 24th. J P Morgan Chase & Co reiterated a “neutral” rating on shares of Enbridge in a report on Friday, June 23rd. Finally, Wolfe Research started coverage on shares of Enbridge in a report on Friday, May 12th. They issued a “market perform” rating and a $43.00 target price for the company. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and eight have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target 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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