Private Advisor Group LLC acquired a new position in shares of Enbridge Inc. (NYSE:ENB) during the second quarter, Holdings Channel reports. The fund acquired 5,818 shares of the company’s stock, valued at approximately $246,000.
Other institutional investors have also recently bought and sold shares of the company. Aperio Group LLC boosted its position in Enbridge by 121.7% in the first quarter. Aperio Group LLC now owns 253,778 shares of the company’s stock worth $9,875,000 after buying an additional 139,329 shares during the last quarter. Virginia Retirement System purchased a new position in Enbridge during the first quarter worth $6,872,000. IFP Advisors Inc boosted its position in Enbridge by 15.5% in the first quarter. IFP Advisors Inc now owns 6,695 shares of the company’s stock worth $261,000 after buying an additional 899 shares during the last quarter. Torray LLC boosted its position in Enbridge by 32.3% in the first quarter. Torray LLC now owns 1,148,213 shares of the company’s stock worth $44,677,000 after buying an additional 280,363 shares during the last quarter. Finally, Addenda Capital Inc. boosted its position in Enbridge by 2,586.7% in the first quarter. Addenda Capital Inc. now owns 759,530 shares of the company’s stock worth $29,688,000 after buying an additional 731,260 shares during the last quarter. 66.77% of the stock is owned by institutional investors.
Shares of Enbridge Inc. (NYSE:ENB) traded down 0.45% during midday trading on Friday, hitting $43.79. 435,481 shares of the company’s stock traded hands. The company has a 50 day moving average price of $42.17 and a 200 day moving average price of $40.80. The firm has a market capitalization of $40.91 billion, a price-to-earnings ratio of 39.77 and a beta of 0.65. Enbridge Inc. has a 1-year low of $27.43 and a 1-year high of $45.77.
Enbridge (NYSE:ENB) last posted its quarterly earnings results on Friday, July 29th. The company reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by $0.03. Enbridge had a return on equity of 12.96% and a net margin of 4.29%. During the same quarter last year, the business earned $0.60 earnings per share. Equities analysts anticipate that Enbridge Inc. will post $1.77 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, September 1st. Shareholders of record on Monday, August 15th were given a $0.41 dividend. The ex-dividend date of this dividend was Thursday, August 11th. This represents a $1.64 annualized dividend and a yield of 3.73%. Enbridge’s dividend payout ratio is 166.33%.
Several brokerages have recently commented on ENB. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $64.00 price target on shares of Enbridge in a research report on Wednesday, June 29th. Zacks Investment Research cut shares of Enbridge from a “buy” rating to a “hold” rating in a research report on Wednesday, July 13th. National Bank Financial cut shares of Enbridge from an “outperform” rating to a “sector perform” rating in a research report on Monday, July 18th. Goldman Sachs Group Inc. cut shares of Enbridge from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $44.00 to $42.00 in a research report on Wednesday, July 20th. Finally, Scotiabank reaffirmed an “outperform” rating and set a $61.00 price target on shares of Enbridge in a research 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. Enbridge currently has a consensus rating of “Buy” and a consensus price target 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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