Stephens Inc. AR increased its position in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 54.8% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 197,284 shares of the pipeline company’s stock after acquiring an additional 69,880 shares during the quarter. Stephens Inc. AR’s holdings in Enbridge were worth $7,118,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in the company. Hanson McClain Inc. boosted its position in shares of Enbridge by 41.9% in the first quarter. Hanson McClain Inc. now owns 1,005 shares of the pipeline company’s stock valued at $36,000 after acquiring an additional 297 shares during the period. Mengis Capital Management Inc. lifted its position in Enbridge by 4.5% during the first quarter. Mengis Capital Management Inc. now owns 6,918 shares of the pipeline company’s stock valued at $250,000 after purchasing an additional 300 shares during the last quarter. Lcnb Corp lifted its position in Enbridge by 1.0% during the second quarter. Lcnb Corp now owns 30,021 shares of the pipeline company’s stock valued at $1,083,000 after purchasing an additional 308 shares during the last quarter. CWM LLC lifted its position in Enbridge by 14.5% during the first quarter. CWM LLC now owns 2,512 shares of the pipeline company’s stock valued at $91,000 after purchasing an additional 318 shares during the last quarter. Finally, Asset Dedication LLC lifted its position in Enbridge by 19.0% during the first quarter. Asset Dedication LLC now owns 2,028 shares of the pipeline company’s stock valued at $73,000 after purchasing an additional 324 shares during the last quarter. Institutional investors own 55.45% of the company’s stock.
Several brokerages have issued reports on ENB. Bank of America lowered shares of Enbridge from a “buy” rating to a “neutral” rating and set a $49.00 target price for the company. in a research report on Tuesday, July 2nd. Wolfe Research lowered shares of Enbridge from an “outperform” rating to a “peer perform” rating and set a $37.00 target price for the company. in a research report on Thursday, June 13th. ValuEngine lowered shares of Enbridge from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Goldman Sachs Group began coverage on shares of Enbridge in a research report on Thursday, July 18th. They set a “neutral” rating for the company. Finally, Credit Suisse Group lowered shares of Enbridge from an “outperform” rating to a “neutral” rating in a research report on Thursday, April 25th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $43.75.
Shares of ENB stock traded up $0.30 during trading hours on Thursday, hitting $33.06. 96,616 shares of the company’s stock were exchanged, compared to its average volume of 3,027,426. The stock has a market capitalization of $66.30 billion, a P/E ratio of 16.07, a PEG ratio of 2.64 and a beta of 0.59. Enbridge Inc has a 12-month low of $28.82 and a 12-month high of $38.04. The stock has a 50 day simple moving average of $35.02. The company has a quick ratio of 0.53, a current ratio of 0.63 and a debt-to-equity ratio of 0.92.
Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings results on Friday, August 2nd. The pipeline company reported $0.50 EPS for the quarter, topping the consensus estimate of $0.42 by $0.08. The firm had revenue of $9.92 billion for the quarter. Enbridge had a net margin of 9.97% and a return on equity of 8.16%. On average, sell-side analysts anticipate that Enbridge Inc will post 1.9 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Sunday, September 1st. Shareholders of record on Thursday, August 15th will be paid a dividend of $0.559 per share. The ex-dividend date of this dividend is Wednesday, August 14th. This is an increase from Enbridge’s previous quarterly dividend of $0.52. This represents a $2.24 annualized dividend and a dividend yield of 6.76%. Enbridge’s dividend payout ratio (DPR) is 106.83%.
Enbridge Company Profile
Enbridge Inc operates as an energy infrastructure company in Canada and the United States. The company operates through five segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution, Green Power and Transmission, and Energy Services. The Liquids Pipelines segment operates common carrier and contract crude oil, natural gas liquids (NGL), and refined products pipelines and terminals.
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