Ameriprise Financial Inc. lessened its stake in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 41.4% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 942,426 shares of the pipeline company’s stock after selling 665,291 shares during the period. Ameriprise Financial Inc. owned 0.06% of Enbridge worth $37,528,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently made changes to their positions in the company. First Personal Financial Services bought a new position in Enbridge in the 1st quarter valued at about $102,000. Monroe Bank & Trust MI bought a new position in Enbridge in the 1st quarter valued at about $105,000. Kistler Tiffany Companies LLC bought a new position in Enbridge in the 1st quarter valued at about $109,000. NEXT Financial Group Inc grew its position in 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 buying an additional 411 shares in the last quarter. Finally, Welch Group LLC bought a new position in Enbridge in the 2nd quarter valued at about $121,000. Hedge funds and other institutional investors own 61.58% of the company’s stock.
Enbridge Inc (NYSE:ENB) opened at 41.04 on Friday. Enbridge Inc has a 52-week low of $37.37 and a 52-week high of $45.09. The company has a market cap of $67.54 billion, a price-to-earnings ratio of 32.21 and a beta of 0.63. The stock’s 50 day moving average is $40.46 and its 200 day moving average is $40.52.
Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings data on Thursday, August 3rd. The pipeline company reported $0.30 EPS for the quarter, missing the Zacks’ consensus estimate of $0.35 by ($0.05). The firm had revenue of $8.26 billion during the quarter, compared to analyst estimates of $8.81 billion. Enbridge had a return on equity of 6.04% and a net margin of 5.28%. During the same quarter in the previous year, the business earned $0.50 earnings per share. Equities research analysts forecast that Enbridge Inc will post $1.66 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 1st. Investors of record on Tuesday, August 15th were given a $0.489 dividend. This represents a $1.96 dividend on an annualized basis and a yield of 4.77%. This is a positive change from Enbridge’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend was Friday, August 11th. Enbridge’s dividend payout ratio (DPR) is presently 190.29%.
A number of equities analysts recently issued reports on ENB shares. Morgan Stanley reiterated an “equal weight” rating and issued a $44.00 target price (down previously from $45.00) on shares of Enbridge in a research report on Friday, July 14th. J P Morgan Chase & Co reiterated a “neutral” rating on shares of Enbridge in a research report on Friday, June 23rd. Zacks Investment Research lowered shares of Enbridge from a “hold” rating to a “sell” rating in a research report on Tuesday, July 11th. Finally, BidaskClub upgraded shares of Enbridge from a “strong sell” rating to a “sell” rating in a research report on Saturday, June 24th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company’s stock. Enbridge presently has a consensus rating of “Hold” and a consensus price target of $54.67.
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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