Schroder Investment Management Group bought a new stake in shares of Enbridge Inc. (NYSE:ENB) during the second quarter, Holdings Channel reports. The institutional investor bought 15,483 shares of the company’s stock, valued at approximately $847,000.
A number of other hedge funds also recently bought and sold shares of the stock. Aperio Group LLC increased its stake in Enbridge by 121.7% in the first quarter. Aperio Group LLC now owns 253,778 shares of the company’s stock valued at $9,875,000 after buying an additional 139,329 shares during the period. Virginia Retirement System bought a new stake in Enbridge during the first quarter valued at $6,872,000. IFP Advisors Inc increased 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. Torray LLC increased its stake in Enbridge by 32.3% in the first quarter. Torray LLC now owns 1,148,213 shares of the company’s stock valued at $44,677,000 after buying an additional 280,363 shares during the period. Finally, Addenda Capital Inc. increased its stake in Enbridge by 2,586.7% in the first quarter. Addenda Capital Inc. now owns 759,530 shares of the company’s stock valued at $29,688,000 after buying an additional 731,260 shares during the period. Hedge funds and other institutional investors own 66.77% of the company’s stock.
Shares of Enbridge Inc. (NYSE:ENB) traded down 0.87% during midday trading on Monday, reaching $43.32. 1,122,276 shares of the company were exchanged. The company has a market capitalization of $40.47 billion, a PE ratio of 39.42 and a beta of 0.65. The stock’s 50-day moving average price is $42.24 and its 200-day moving average price is $40.85. Enbridge Inc. has a 52-week low of $27.43 and a 52-week 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 for the quarter, missing the Zacks’ 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 in the previous year, the company posted $0.60 EPS. Analysts anticipate that Enbridge Inc. will post $1.79 EPS 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 paid a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a yield of 3.77%. The ex-dividend date of this dividend was Thursday, August 11th. Enbridge’s dividend payout ratio is currently 166.33%.
Several analysts recently weighed in on ENB shares. Royal Bank Of Canada reiterated an “outperform” rating and issued a $64.00 target price on shares of Enbridge in a report on Wednesday, June 29th. Zacks Investment Research downgraded shares of Enbridge from a “buy” rating to a “hold” rating in a research note on Wednesday, July 13th. National Bank Financial downgraded shares of Enbridge from an “outperform” rating to a “sector perform” rating in a research note on Monday, July 18th. Goldman Sachs Group Inc. downgraded shares of Enbridge from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $44.00 to $42.00 in a research note on Wednesday, July 20th. Finally, Scotiabank restated an “outperform” rating and issued a $61.00 price target on shares of Enbridge in a research note on Wednesday, August 3rd. One investment analyst has rated the stock with a sell rating, three have given a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Enbridge presently 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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