Vanguard Group Inc. increased its position in shares of Enbridge Inc. (NYSE:ENB) by 11.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,599,682 shares of the company’s stock after buying an additional 2,004,941 shares during the period. Vanguard Group Inc. owned about 2.10% of Enbridge worth $830,242,000 as of its most recent filing with the SEC.
Other institutional investors also recently added to or reduced their stakes in the company. CIBC World Markets Inc. increased its position in Enbridge by 2.9% in the second quarter. CIBC World Markets Inc. now owns 13,784,859 shares of the company’s stock worth $583,927,000 after buying an additional 382,434 shares during the period. I.G. Investment Management LTD. increased its position in Enbridge by 1.5% in the second quarter. I.G. Investment Management LTD. now owns 11,336,891 shares of the company’s stock worth $480,304,000 after buying an additional 167,876 shares during the period. 1832 Asset Management L.P. increased its position in Enbridge by 12.5% in the first quarter. 1832 Asset Management L.P. now owns 10,996,811 shares of the company’s stock worth $665,615,000 after buying an additional 1,222,649 shares during the period. CIBC Asset Management Inc increased its position in Enbridge by 1.7% in the second quarter. CIBC Asset Management Inc now owns 9,774,368 shares of the company’s stock worth $411,549,000 after buying an additional 160,368 shares during the period. Finally, OMERS ADMINISTRATION Corp increased its position in Enbridge by 114.9% in the first quarter. OMERS ADMINISTRATION Corp now owns 6,215,000 shares of the company’s stock worth $242,940,000 after buying an additional 3,322,500 shares during the period. Institutional investors and hedge funds own 66.77% of the company’s stock.
Shares of Enbridge Inc. (NYSE:ENB) traded down 0.79% during midday trading on Tuesday, reaching $42.88. 368,592 shares of the company’s stock were exchanged. Enbridge Inc. has a one year low of $27.43 and a one year high of $45.77. The firm has a 50 day moving average of $42.29 and a 200-day moving average of $40.93. The stock has a market cap of $40.06 billion, a price-to-earnings ratio of 39.02 and a beta of 0.65.
Enbridge (NYSE:ENB) last posted its quarterly earnings results on Friday, July 29th. The company reported $0.50 EPS for the quarter, missing the Zacks’ 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 quarter in the previous year, the firm posted $0.60 EPS. On average, equities research analysts anticipate that Enbridge Inc. will post $1.79 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Thursday, September 1st. Stockholders of record on Monday, August 15th were issued a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a dividend yield of 3.79%. The ex-dividend date of this dividend was Thursday, August 11th. Enbridge’s payout ratio is 166.33%.
ENB has been the topic of a number of research analyst reports. Zacks Investment Research downgraded Enbridge from a “buy” rating to a “hold” rating in a research note on Wednesday, July 13th. Bank of America Corp. initiated coverage on Enbridge in a research note on Thursday, September 1st. They issued a “neutral” rating and a $56.00 target price on the stock. RBC Capital Markets restated an “outperform” rating on shares of Enbridge in a research note on Sunday, September 4th. Canaccord Genuity restated a “buy” rating on shares of Enbridge in a research note on Sunday, September 4th. Finally, TD Securities restated a “buy” rating and issued a $59.00 target price (up previously from $58.00) 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 issued a buy rating and one has given a strong buy rating to the company’s stock. Enbridge has an average 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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