Creative Planning decreased its stake in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 0.3% during the second quarter, according to its most recent filing with the SEC. The fund owned 78,789 shares of the pipeline company’s stock after selling 255 shares during the period. Creative Planning’s holdings in Enbridge were worth $3,137,000 as of its most recent filing with the SEC.
Other large investors have also modified their holdings of the company. Goelzer Investment Management Inc. acquired a new stake in shares of Enbridge during the first quarter valued at approximately $4,602,000. Meyer Handelman Co. acquired a new stake in shares of Enbridge during the first quarter valued at approximately $7,364,000. M. Kraus & Co purchased a new stake in shares of Enbridge during the first quarter worth about $5,227,000. Brookfield Asset Management Inc. boosted its stake in shares of Enbridge by 24,914.7% in the fourth quarter. Brookfield Asset Management Inc. now owns 3,752,212 shares of the pipeline company’s stock worth $157,726,000 after buying an additional 3,737,212 shares during the last quarter. Finally, Tdam USA Inc. purchased a new stake in shares of Enbridge during the first quarter worth about $970,000. 63.37% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Enbridge Inc (ENB) traded up 0.74% on Friday, hitting $39.42. 1,480,343 shares of the company’s stock were exchanged. The stock’s 50 day moving average is $40.59 and its 200 day moving average is $40.82. Enbridge Inc has a 12 month low of $37.37 and a 12 month high of $45.77. The firm has a market cap of $64.88 billion, a P/E ratio of 32.31 and a beta of 0.62.
Enbridge (NYSE:ENB) (TSE:ENB) last posted its earnings results on Thursday, August 3rd. The pipeline company reported $0.30 earnings per share for the quarter, missing the consensus estimate of $0.35 by $0.05. The business had revenue of $8.26 billion during the quarter, compared to analysts’ expectations of $8.81 billion. Enbridge had a return on equity of 6.04% and a net margin of 5.28%. During the same quarter in the previous year, the business earned $0.50 EPS. On average, equities analysts predict that Enbridge Inc will post $1.58 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Tuesday, August 15th will be paid a $0.489 dividend. This is an increase from Enbridge’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend is Friday, August 11th. This represents a $1.96 annualized dividend and a dividend yield of 4.96%. Enbridge’s dividend payout ratio (DPR) is presently 190.29%.
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A number of equities research analysts have recently issued reports on the stock. J P Morgan Chase & Co reaffirmed a “neutral” rating on shares of Enbridge in a report on Friday, June 23rd. Wolfe Research assumed coverage on shares of Enbridge in a report on Friday, May 12th. They issued a “market perform” rating and a $43.00 target price on the stock. Morgan Stanley reaffirmed an “equal weight” rating and issued a $44.00 target price (down from $45.00) on shares of Enbridge in a report on Friday, July 14th. Zacks Investment Research cut shares of Enbridge from a “hold” rating to a “sell” rating in a report on Tuesday, July 11th. Finally, BidaskClub raised shares of Enbridge from a “strong sell” rating to a “sell” rating in a report on Saturday, June 24th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and eight have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $54.00.
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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