Karpas Strategies LLC maintained its stake in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 10,626 shares of the pipeline company’s stock at the end of the second quarter. Karpas Strategies LLC’s holdings in Enbridge were worth $423,000 as of its most recent SEC filing.
A number of other institutional investors have also added to or reduced their stakes in ENB. Livingston Group Asset Management CO operating as Southport Capital Management boosted its position in shares of Enbridge by 0.3% in the second quarter. Livingston Group Asset Management CO operating as Southport Capital Management now owns 18,722 shares of the pipeline company’s stock worth $745,000 after buying an additional 64 shares during the last quarter. Family Legacy Inc. boosted its position in shares of Enbridge by 1.2% in the second quarter. Family Legacy Inc. now owns 5,781 shares of the pipeline company’s stock worth $230,000 after buying an additional 68 shares during the last quarter. DORCHESTER WEALTH MANAGEMENT Co raised its stake in Enbridge by 0.4% in the first quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 35,126 shares of the pipeline company’s stock worth $1,470,000 after buying an additional 126 shares during the period. Capital Asset Advisory Services LLC raised its stake in Enbridge by 2.2% in the first quarter. Capital Asset Advisory Services LLC now owns 6,741 shares of the pipeline company’s stock worth $282,000 after buying an additional 143 shares during the period. Finally, Bluestein R H & Co. raised its stake in Enbridge by 1.3% in the first quarter. Bluestein R H & Co. now owns 15,196 shares of the pipeline company’s stock worth $636,000 after buying an additional 196 shares during the period. 63.83% of the stock is owned by institutional investors.
Enbridge Inc (NYSE:ENB) traded up 0.14% during midday trading on Friday, hitting $39.47. 2,015,913 shares of the stock were exchanged. The firm’s 50-day moving average is $40.66 and its 200 day moving average is $40.98. The stock has a market cap of $64.96 billion, a price-to-earnings ratio of 31.96 and a beta of 0.62. Enbridge Inc has a 52 week low of $37.37 and a 52 week high of $45.77.
Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings results 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 return on equity of 6.04% and a net margin of 5.28%. The firm had revenue of $8.26 billion for the quarter, compared to the consensus estimate of $8.81 billion. During the same period last year, the company posted $0.50 earnings per share. Equities research analysts expect that Enbridge Inc will post $1.57 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Tuesday, August 15th will be issued a $0.489 dividend. This is an increase from Enbridge’s previous quarterly dividend of $0.33. This represents a $1.96 annualized dividend and a dividend yield of 4.96%. The ex-dividend date of this dividend is Friday, August 11th. Enbridge’s payout ratio is currently 173.79%.
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ENB has been the subject of several analyst reports. Morgan Stanley assumed coverage on Enbridge in a research report on Tuesday, May 2nd. They set an “equal weight” rating and a $45.00 price target for the company. BidaskClub cut Enbridge from a “sell” rating to a “strong sell” rating in a research note on Friday. Zacks Investment Research cut Enbridge from a “hold” rating to a “strong sell” rating in a research note on Monday, April 24th. Wolfe Research began coverage on Enbridge in a research note on Friday, May 12th. They issued a “market perform” rating and a $43.00 price objective on the stock. Finally, J P Morgan Chase & Co restated a “neutral” rating on shares of Enbridge in a research note on Friday, June 23rd. Two 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 company’s stock. The company has a consensus rating of “Hold” and an average price target of $54.00.
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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