St. James Investment Company LLC increased its position in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 0.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,598,325 shares of the pipeline company’s stock after buying an additional 2,680 shares during the period. Enbridge makes up 7.9% of St. James Investment Company LLC’s investment portfolio, making the stock its 4th largest position. St. James Investment Company LLC owned approximately 0.10% of Enbridge worth $63,629,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. First Personal Financial Services bought a new position in shares of Enbridge during the first quarter worth approximately $102,000. Financial Architects Inc raised its position in shares of Enbridge by 2,987.7% in the first quarter. Financial Architects Inc now owns 2,501 shares of the pipeline company’s stock worth $105,000 after buying an additional 2,420 shares during the period. Monroe Bank & Trust MI bought a new position in shares of Enbridge during the first quarter worth approximately $105,000. Kistler Tiffany Companies LLC bought a new position in shares of Enbridge during the first quarter worth approximately $109,000. Finally, Mascoma Wealth Management LLC bought a new position in shares of Enbridge during the first quarter worth approximately $111,000. Institutional investors and hedge funds own 63.37% of the company’s stock.
Enbridge Inc (NYSE:ENB) traded up 0.74% during mid-day trading on Friday, hitting $39.42. 1,480,343 shares of the company traded hands. Enbridge Inc has a one year low of $37.37 and a one year high of $45.77. The firm has a market capitalization of $64.88 billion, a P/E ratio of 32.31 and a beta of 0.62. The firm has a 50 day moving average of $40.59 and a 200 day moving average of $40.82.
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. The business had revenue of $8.26 billion during the quarter, compared to the consensus estimate 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 firm posted $0.50 earnings per share. Equities research analysts expect that Enbridge Inc will post $1.58 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Tuesday, August 15th will be issued a $0.489 dividend. This represents a $1.96 dividend on an annualized basis and a dividend yield of 4.96%. This is a positive change from Enbridge’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend is Friday, August 11th. Enbridge’s payout ratio is presently 190.29%.
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A number of brokerages have issued reports on ENB. BidaskClub lowered shares of Enbridge from a “sell” rating to a “strong sell” rating in a research report on Friday, August 11th. Morgan Stanley restated an “equal weight” rating and set a $44.00 target price (down previously from $45.00) on shares of Enbridge in a research report on Friday, July 14th. Zacks Investment Research lowered shares of Enbridge from a “hold” rating to a “sell” rating in a research report on Tuesday, July 11th. J P Morgan Chase & Co restated a “neutral” rating on shares of Enbridge in a research report on Friday, June 23rd. Finally, Wolfe Research began coverage on shares of Enbridge in a research report on Friday, May 12th. They set a “market perform” rating and a $43.00 target price on the stock. Two analysts have rated the stock with a sell rating, six have given a hold rating and eight have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus 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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