Advisor Group Inc. Has $2.06 Million Position in Enbridge Inc (ENB)
Advisor Group Inc. increased its position in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 4.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 52,853 shares of the pipeline company’s stock after acquiring an additional 2,478 shares during the period. Advisor Group Inc.’s holdings in Enbridge were worth $2,060,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. First Personal Financial Services acquired a new stake in Enbridge in the first quarter valued at approximately $102,000. Monroe Bank & Trust MI acquired a new stake in Enbridge in the first quarter valued at approximately $105,000. NEXT Financial Group Inc boosted its position in Enbridge by 17.7% in the second quarter. NEXT Financial Group Inc now owns 2,731 shares of the pipeline company’s stock valued at $109,000 after buying an additional 411 shares in the last quarter. Welch Group LLC acquired a new stake in Enbridge in the second quarter valued at approximately $121,000. Finally, Mark Sheptoff Financial Planning LLC acquired a new stake in Enbridge in the first quarter valued at approximately $163,000. Institutional investors and hedge funds own 61.58% of the company’s stock.
ENB has been the topic of a number of research analyst reports. BidaskClub upgraded shares of Enbridge from a “strong sell” rating to a “sell” rating in a research report on Friday, August 25th. Zacks Investment Research lowered shares of Enbridge from a “hold” rating to a “sell” rating in a research report on Tuesday, July 11th. Morgan Stanley restated an “equal weight” rating and issued a $44.00 target price (down previously from $45.00) on shares of Enbridge in a research report on Friday, July 14th. Finally, J P Morgan Chase & Co restated a “neutral” rating on shares of Enbridge in a research report on Friday, June 23rd. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $54.67.
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Enbridge Inc (ENB) opened at 41.23 on Tuesday. Enbridge Inc has a 52 week low of $37.37 and a 52 week high of $45.09. The company has a market cap of $67.86 billion, a P/E ratio of 32.36 and a beta of 0.63. The company’s 50-day moving average is $40.46 and its 200-day moving average is $40.52.
Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings results on Thursday, August 3rd. The pipeline company reported $0.30 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.35 by ($0.05). The firm had revenue of $8.26 billion for the quarter, compared to analysts’ expectations of $8.81 billion. Enbridge had a net margin of 5.28% and a return on equity of 6.04%. During the same period in the previous year, the company earned $0.50 EPS. On average, analysts anticipate that Enbridge Inc will post $1.66 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 1st. Shareholders of record on Tuesday, August 15th were given a dividend of $0.489 per share. The ex-dividend date of this dividend was Friday, August 11th. This represents a $1.96 annualized dividend and a yield of 4.74%. This is a boost from Enbridge’s previous quarterly dividend of $0.33. Enbridge’s dividend payout ratio is presently 190.29%.
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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