ERn Financial LLC purchased a new position in Enbridge Inc. (NYSE:ENB – Get Rating) (TSE:ENB) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 10,972 shares of the pipeline company’s stock, valued at approximately $506,000.
Other large investors also recently bought and sold shares of the company. Financial Management Professionals Inc. raised its holdings in Enbridge by 605.2% in the 1st quarter. Financial Management Professionals Inc. now owns 543 shares of the pipeline company’s stock worth $25,000 after purchasing an additional 466 shares during the period. First Command Bank raised its holdings in Enbridge by 96.4% in the 1st quarter. First Command Bank now owns 601 shares of the pipeline company’s stock worth $28,000 after purchasing an additional 295 shares during the period. Rise Advisors LLC acquired a new position in Enbridge in the 4th quarter worth about $32,000. Tcwp LLC acquired a new position in Enbridge in the 1st quarter worth about $37,000. Finally, TFO TDC LLC acquired a new position in shares of Enbridge during the first quarter valued at approximately $39,000. Institutional investors and hedge funds own 49.26% of the company’s stock.
Analysts Set New Price Targets
A number of equities analysts have commented on ENB shares. US Capital Advisors cut Enbridge from an “overweight” rating to a “hold” rating in a report on Tuesday, July 26th. Raymond James increased their target price on Enbridge from C$55.00 to C$57.00 in a report on Tuesday, August 2nd. National Bank Financial increased their target price on Enbridge from C$60.00 to C$61.00 in a report on Tuesday, August 2nd. Finally, Industrial Alliance Securities raised Enbridge from a “hold” rating to a “buy” rating and set a C$60.00 target price for the company in a report on Wednesday, August 3rd. Seven analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $58.46.
Enbridge Price Performance
Enbridge (NYSE:ENB – Get Rating) (TSE:ENB) last posted its quarterly earnings results on Friday, July 29th. The pipeline company reported $0.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.10. Enbridge had a return on equity of 10.46% and a net margin of 9.98%. During the same period last year, the firm earned $0.55 earnings per share. Equities research analysts anticipate that Enbridge Inc. will post 2.31 earnings per share for the current fiscal year.
Enbridge Cuts Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 1st. Investors of record on Monday, August 15th were given a $0.668 dividend. The ex-dividend date of this dividend was Friday, August 12th. This represents a $2.67 annualized dividend and a yield of 6.50%. Enbridge’s payout ratio is 140.00%.
Enbridge Inc operates as an energy infrastructure company. The company operates through five segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution and Storage, Renewable Power Generation, and Energy Services. The Liquids Pipelines segment operates pipelines and related terminals to transport various grades of crude oil and other liquid hydrocarbons in Canada and the United States.
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