Gateway Investment Advisers LLC raised its stake in shares of Enbridge Inc. (NYSE:ENB – Get Rating) (TSE:ENB) by 100.8% during the 2nd quarter, Holdings Channel.com reports. The fund owned 115,384 shares of the pipeline company’s stock after purchasing an additional 57,928 shares during the quarter. Gateway Investment Advisers LLC’s holdings in Enbridge were worth $4,876,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently made changes to their positions in ENB. Financial Management Professionals Inc. boosted its holdings in Enbridge by 605.2% in the first 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 last quarter. First Command Bank increased its position in Enbridge by 96.4% during the first quarter. First Command Bank now owns 601 shares of the pipeline company’s stock valued at $28,000 after acquiring an additional 295 shares during the last quarter. Rise Advisors LLC bought a new position in Enbridge in the fourth quarter valued at about $32,000. Tcwp LLC purchased a new position in Enbridge in the first quarter worth about $37,000. Finally, TFO TDC LLC purchased a new stake in shares of Enbridge during the 1st quarter valued at about $39,000. Hedge funds and other institutional investors own 49.26% of the company’s stock.
Analyst Ratings Changes
A number of brokerages have commented on ENB. National Bank Financial upped their target price on shares of Enbridge from C$60.00 to C$61.00 in a report on Tuesday, August 2nd. Industrial Alliance Securities upgraded Enbridge from a “hold” rating to a “buy” rating and set a C$60.00 target price on the stock in a research report on Wednesday, August 3rd. Raymond James upgraded Enbridge from a “market perform” rating to an “outperform” rating in a research report on Monday, September 12th. Finally, US Capital Advisors cut Enbridge from an “overweight” rating to a “hold” rating in a research report on Tuesday, July 26th. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, Enbridge currently has a consensus rating of “Moderate Buy” and a consensus target price of $59.75.
Enbridge Price Performance
Enbridge (NYSE:ENB – Get Rating) (TSE:ENB) last released its quarterly earnings data on Friday, July 29th. The pipeline company reported $0.67 EPS for the quarter, beating the consensus estimate of $0.57 by $0.10. Enbridge had a net margin of 9.98% and a return on equity of 10.46%. During the same quarter in the prior year, the firm posted $0.55 earnings per share. On average, equities analysts anticipate that Enbridge Inc. will post 2.3 EPS for the current fiscal year.
Enbridge Cuts Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 1st. Stockholders of record on Monday, August 15th were issued a dividend of $0.668 per share. The ex-dividend date of this dividend was Friday, August 12th. This represents a $2.67 annualized dividend and a dividend yield of 6.67%. Enbridge’s dividend payout ratio (DPR) is 140.00%.
Enbridge Company Profile
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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