Sei Investments Co. reduced its stake in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 37.2% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 163,370 shares of the pipeline company’s stock after selling 96,710 shares during the period. Sei Investments Co.’s holdings in Enbridge were worth $6,504,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. CGOV Asset Management boosted its stake in Enbridge by 49.1% in the first quarter. CGOV Asset Management now owns 1,093,641 shares of the pipeline company’s stock valued at $60,927,000 after buying an additional 360,225 shares in the last quarter. Pinnacle Bank bought a new stake in Enbridge during the first quarter valued at approximately $166,000. Peoples Financial Services CORP. bought a new stake in Enbridge during the first quarter valued at approximately $1,765,000. CHICAGO TRUST Co NA bought a new stake in Enbridge during the first quarter valued at approximately $202,000. Finally, Viking Fund Management LLC boosted its stake in Enbridge by 42.4% in the first quarter. Viking Fund Management LLC now owns 498,299 shares of the pipeline company’s stock valued at $20,848,000 after buying an additional 148,299 shares in the last quarter. 63.37% of the stock is owned by hedge funds and other institutional investors.
Enbridge Inc (NYSE:ENB) opened at 39.80 on Tuesday. Enbridge Inc has a 12 month low of $37.37 and a 12 month high of $45.77. The stock has a market capitalization of $65.50 billion, a price-to-earnings ratio of 32.23 and a beta of 0.62. The company has a 50-day moving average price of $40.68 and a 200 day moving average price of $40.90.
Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly 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. The business had revenue of $8.26 billion during the quarter, compared to analyst estimates of $8.81 billion. Enbridge had a net margin of 5.28% and a return on equity of 6.04%. During the same quarter last year, the firm posted $0.50 earnings per share. Equities analysts predict that Enbridge Inc will post $1.57 earnings per share for the current year.
The firm also recently declared 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. The ex-dividend date of this dividend is Friday, August 11th. This is an increase from Enbridge’s previous quarterly dividend of $0.33. This represents a $1.96 annualized dividend and a yield of 4.91%. Enbridge’s payout ratio is 173.79%.
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Several equities research analysts recently commented on the company. Zacks Investment Research cut Enbridge from a “hold” rating to a “strong sell” rating in a report on Monday, April 24th. Morgan Stanley assumed coverage on Enbridge in a report on Tuesday, May 2nd. They issued an “equal weight” rating and a $45.00 price target for the company. Wolfe Research assumed coverage on Enbridge in a report on Friday, May 12th. They issued a “market perform” rating and a $43.00 price target for the company. BidaskClub cut Enbridge from a “sell” rating to a “strong sell” rating in a report on Friday. Finally, J P Morgan Chase & Co reaffirmed a “neutral” rating on shares of Enbridge in a report on Friday, June 23rd. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have issued a buy rating to the company’s stock. The company has an average 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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