Mid Atlantic Financial Management Inc. ADV increased its stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 1.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 27,869 shares of the pipeline company’s stock after acquiring an additional 286 shares during the quarter. Mid Atlantic Financial Management Inc. ADV’s holdings in Enbridge were worth $1,116,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Corsicana & Co. bought a new position in Enbridge during the second quarter worth $29,000. Harbour Investments Inc. bought a new position in Enbridge during the first quarter worth $36,000. Moisand Fitzgerald Tamayo LLC bought a new position in Enbridge during the second quarter worth $41,000. Vigilant Capital Management LLC boosted its stake in Enbridge by 95.3% during the second quarter. Vigilant Capital Management LLC now owns 1,172 shares of the pipeline company’s stock worth $47,000 after acquiring an additional 572 shares in the last quarter. Finally, Pflug Koory LLC bought a new position in Enbridge during the second quarter worth $49,000. 48.05% of the stock is currently owned by institutional investors and hedge funds.
ENB has been the topic of several research analyst reports. Credit Suisse Group raised shares of Enbridge from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $52.00 to $55.00 in a research note on Thursday, June 17th. Zacks Investment Research downgraded shares of Enbridge from a “buy” rating to a “hold” rating and set a $42.00 target price for the company. in a report on Monday, June 14th. Tudor Pickering reiterated a “buy” rating and issued a C$52.00 target price on shares of Enbridge in a report on Friday, June 11th. TD Securities increased their target price on shares of Enbridge from C$54.00 to C$55.00 and gave the company a “buy” rating in a report on Wednesday, September 8th. Finally, Scotiabank increased their target price on shares of Enbridge from C$54.00 to C$55.00 and gave the company an “outperform” rating in a report on Thursday, July 8th. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $52.08.
Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings data on Thursday, July 29th. The pipeline company reported $0.67 EPS for the quarter, beating analysts’ consensus estimates of $0.56 by $0.11. Enbridge had a net margin of 14.99% and a return on equity of 9.24%. The company had revenue of $8.91 billion during the quarter, compared to analyst estimates of $9 billion. During the same period last year, the business earned $0.56 earnings per share. On average, sell-side analysts expect that Enbridge Inc. will post 2.23 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 1st. Stockholders of record on Friday, August 13th were given a $0.6645 dividend. The ex-dividend date was Thursday, August 12th. This represents a $2.66 dividend on an annualized basis and a dividend yield of 6.68%. Enbridge’s dividend payout ratio (DPR) is currently 147.51%.
Enbridge, Inc engages in the provision of gas and oil businesses. It operates through the following segments: Liquid Pipelines, Gas Distribution & Storage, Gas Transmission & Midstream, Renewable Power Generation, and Energy Services. The Liquids Pipelines segment consists of common carrier and contract crude oil, natural gas liquids and refined products pipelines and terminals in Canada and U.S., including Canadian Mainline, Regional Oil Sands System, Southern Lights Pipeline, Spearhead Pipeline, Seaway Crude Pipeline interest, and other feeder pipelines.
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