Schroder Investment Management Group lessened its stake in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 34.1% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 29,200 shares of the pipeline company’s stock after selling 15,084 shares during the quarter. Schroder Investment Management Group’s holdings in Enbridge were worth $1,515,000 as of its most recent SEC filing.
Several other hedge funds also recently modified their holdings of the company. Sheaff Brock Investment Advisors LLC lifted its holdings in shares of Enbridge by 5.8% in the 2nd quarter. Sheaff Brock Investment Advisors LLC now owns 12,677 shares of the pipeline company’s stock valued at $505,000 after buying an additional 700 shares during the period. Argent Trust Co lifted its holdings in shares of Enbridge by 1.3% in the 2nd quarter. Argent Trust Co now owns 14,089 shares of the pipeline company’s stock valued at $561,000 after buying an additional 177 shares during the period. D L Carlson Investment Group Inc. lifted its holdings in shares of Enbridge by 16.3% in the 2nd quarter. D L Carlson Investment Group Inc. now owns 61,451 shares of the pipeline company’s stock valued at $2,446,000 after buying an additional 8,597 shares during the period. Intercontinental Wealth Advisors LLC acquired a new position in shares of Enbridge in the 2nd quarter valued at about $2,812,000. Finally, Synovus Financial Corp lifted its holdings in shares of Enbridge by 3.1% in the 2nd quarter. Synovus Financial Corp now owns 218,487 shares of the pipeline company’s stock valued at $8,718,000 after buying an additional 6,649 shares during the period. 61.58% of the stock is owned by institutional investors and hedge funds.
Several equities analysts have recently issued reports on the company. BidaskClub raised Enbridge from a “strong sell” rating to a “sell” rating in a report on Friday, August 25th. Morgan Stanley reissued an “equal weight” rating and issued a $44.00 price objective (down previously from $45.00) on shares of Enbridge in a report on Friday, July 14th. Zacks Investment Research cut Enbridge from a “hold” rating to a “sell” rating in a report on Tuesday, July 11th. Finally, J P Morgan Chase & Co reissued a “neutral” rating on shares of Enbridge in a report on Friday, June 23rd. Two analysts have rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $54.67.
Enbridge Inc (NYSE ENB) opened at 41.04 on Friday. The company has a 50-day moving average price of $40.46 and a 200-day moving average price of $40.52. Enbridge Inc has a 12-month low of $37.37 and a 12-month high of $45.09. The firm has a market cap of $67.54 billion, a PE ratio of 32.21 and a beta of 0.63.
Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings data on Thursday, August 3rd. The pipeline company reported $0.30 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.35 by ($0.05). Enbridge had a net margin of 5.28% and a return on equity of 6.04%. The business had revenue of $8.26 billion during the quarter, compared to analysts’ expectations of $8.81 billion. During the same period in the prior year, the firm posted $0.50 EPS. On average, equities analysts predict that Enbridge Inc will post $1.66 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 1st. Shareholders of record on Tuesday, August 15th were issued a $0.489 dividend. This represents a $1.96 dividend on an annualized basis and a yield of 4.77%. The ex-dividend date was Friday, August 11th. This is a positive change from Enbridge’s previous quarterly dividend of $0.33. Enbridge’s payout ratio is currently 190.29%.
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Enbridge Company Profile
Enbridge Inc is a Canada-based energy transportation and distribution company. The Company is engaged in delivering energy. It operates through five segments: Liquids Pipelines, Gas Distribution, Gas Pipelines and Processing, Green Power and Transmission, and Energy Services. Liquids Pipelines consists of common carrier and contract crude oil, natural gas liquids (NGL), and refined products pipelines and terminals, including Canadian Mainline, Lakehead Pipeline System, Mid-Continent and Gulf Coast and Regional Oil Sands System.
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