Virginia Retirement Systems ET AL bought a new stake in shares of Enbridge Inc. (NYSE:ENB) during the second quarter, Holdings Channel reports. The firm bought 151,500 shares of the company’s stock, valued at approximately $6,385,000.
Several other large investors have also made changes to their positions in ENB. Zions Bancorporation raised its position in shares of Enbridge by 508.9% in the first quarter. Zions Bancorporation now owns 4,311 shares of the company’s stock valued at $170,000 after buying an additional 3,603 shares during the last quarter. Thompson Davis & CO. Inc. raised its position in Enbridge by 1,054.3% in the second quarter. Thompson Davis & CO. Inc. now owns 4,617 shares of the company’s stock worth $196,000 after buying an additional 4,217 shares in the last quarter. Atria Investments LLC bought a new position in Enbridge during the second quarter worth $220,000. Nikko Asset Management Americas Inc. bought a new position in Enbridge during the first quarter worth $225,000. Finally, Private Advisor Group LLC bought a new position in Enbridge during the second quarter worth $246,000. Institutional investors own 67.07% of the company’s stock.
Shares of Enbridge Inc. (NYSE:ENB) opened at 44.18 on Monday. The stock has a market capitalization of $41.27 billion, a P/E ratio of 39.41 and a beta of 0.65. The firm has a 50-day moving average price of $41.36 and a 200-day moving average price of $40.45. Enbridge Inc. has a 52-week low of $27.43 and a 52-week high of $45.77.
Enbridge (NYSE:ENB) last released its quarterly earnings results on Friday, July 29th. The company reported $0.50 earnings per share for the quarter, missing the consensus estimate of $0.53 by $0.03. Enbridge had a net margin of 4.29% and a return on equity of 12.96%. During the same period in the prior year, the firm earned $0.60 EPS. On average, analysts predict that Enbridge Inc. will post $1.77 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 1st. Stockholders of record on Monday, August 15th were paid a $0.41 dividend. The ex-dividend date of this dividend was Thursday, August 11th. This represents a $1.64 annualized dividend and a dividend yield of 3.71%. Enbridge’s dividend payout ratio (DPR) is 166.33%.
ENB has been the topic of a number of recent research reports. Royal Bank Of Canada restated an “outperform” rating and issued a $64.00 target price on shares of Enbridge in a report on Wednesday, June 29th. Zacks Investment Research lowered Enbridge from a “buy” rating to a “hold” rating in a report on Wednesday, July 13th. National Bank Financial lowered Enbridge from an “outperform” rating to a “sector perform” rating in a report on Monday, July 18th. Goldman Sachs Group Inc. lowered Enbridge from a “buy” rating to a “neutral” rating and dropped their target price for the company from $44.00 to $42.00 in a report on Wednesday, July 20th. Finally, Scotiabank restated an “outperform” rating and issued a $61.00 target price on shares of Enbridge in a report on Wednesday, August 3rd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $56.50.
Enbridge Company Profile
Enbridge Inc (Enbridge) is an energy transportation and distribution company. The Company operates through five segments: Liquids Pipelines; Gas Distribution; Gas Pipelines, Processing and Energy Services; Sponsored Investments, and Corporate. The Company operates the crude oil and liquids transportation system in Canada and the United States.
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