Bartlett & Co. LLC lowered its stake in Enbridge Inc. (NYSE:ENB) by 1.9% during the second quarter, Holdings Channel reports. The firm owned 388,961 shares of the company’s stock after selling 7,705 shares during the period. Bartlett & Co. LLC’s holdings in Enbridge were worth $16,476,000 at the end of the most recent reporting period.
Other large investors also recently added to or reduced their stakes in the company. Zions Bancorporation boosted its stake in 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 period. Nikko Asset Management Americas Inc. bought a new stake in Enbridge during the first quarter valued at approximately $225,000. Atria Investments LLC bought a new stake in Enbridge during the second quarter valued at approximately $220,000. IFP Advisors Inc boosted its stake in Enbridge by 15.5% in the first quarter. IFP Advisors Inc now owns 6,695 shares of the company’s stock valued at $261,000 after buying an additional 899 shares during the period. Finally, Jones Financial Companies Lllp boosted its stake in Enbridge by 7.9% in the first quarter. Jones Financial Companies Lllp now owns 11,382 shares of the company’s stock valued at $443,000 after buying an additional 831 shares during the period. Institutional investors and hedge funds own 66.77% of the company’s stock.
Enbridge Inc. (NYSE:ENB) traded down 0.25% during mid-day trading on Tuesday, hitting $43.11. The company had a trading volume of 2,569,837 shares. The company’s 50 day moving average price is $42.29 and its 200-day moving average price is $40.93. Enbridge Inc. has a one year low of $27.43 and a one year high of $45.77. The company has a market cap of $40.27 billion, a PE ratio of 39.23 and a beta of 0.65.
Enbridge (NYSE:ENB) last announced 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 period in the prior year, the company posted $0.60 earnings per share. Equities research analysts anticipate that Enbridge Inc. will post $1.79 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, September 1st. Investors of record on Monday, August 15th were issued a $0.41 dividend. This represents a $1.64 annualized dividend and a dividend yield of 3.80%. The ex-dividend date was Thursday, August 11th. Enbridge’s dividend payout ratio (DPR) is 166.33%.
A number of research analysts recently weighed in on ENB shares. Scotiabank reaffirmed an “outperform” rating and set a $61.00 price objective on shares of Enbridge in a report on Wednesday, August 3rd. National Bank Financial raised Enbridge from a “sector perform” rating to an “outperform” rating in a report on Wednesday, September 7th. RBC Capital Markets reaffirmed an “outperform” rating on shares of Enbridge in a report on Sunday, September 4th. Zacks Investment Research lowered Enbridge from a “buy” rating to a “hold” rating in a report on Wednesday, July 13th. Finally, TD Securities reaffirmed a “buy” rating and set a $59.00 price objective (up previously from $58.00) 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 given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $56.50.
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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