Bbva Compass Bancshares Inc. Has $177,000 Position in Enbridge Inc (ENB)
Bbva Compass Bancshares Inc. boosted its stake in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 20.4% during the second quarter, Holdings Channel reports. The fund owned 4,440 shares of the pipeline company’s stock after buying an additional 752 shares during the period. Bbva Compass Bancshares Inc.’s holdings in Enbridge were worth $177,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in ENB. Bank of America Corp DE raised its stake in Enbridge by 1,072.3% in the first quarter. Bank of America Corp DE now owns 30,748,683 shares of the pipeline company’s stock valued at $1,286,524,000 after buying an additional 28,125,698 shares during the last quarter. Vanguard Group Inc. raised its stake in Enbridge by 82.9% in the first quarter. Vanguard Group Inc. now owns 38,983,086 shares of the pipeline company’s stock valued at $1,631,051,000 after buying an additional 17,671,076 shares during the last quarter. Bank of Montreal Can raised its stake in Enbridge by 72.4% in the first quarter. Bank of Montreal Can now owns 38,965,561 shares of the pipeline company’s stock valued at $1,630,318,000 after buying an additional 16,369,985 shares during the last quarter. State Street Corp purchased a new stake in Enbridge during the first quarter valued at approximately $478,509,000. Finally, TD Asset Management Inc. raised its stake in Enbridge by 28.2% in the first quarter. TD Asset Management Inc. now owns 41,491,668 shares of the pipeline company’s stock valued at $1,733,219,000 after buying an additional 9,123,400 shares during the last quarter. 63.83% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Enbridge Inc (NYSE ENB) opened at 39.90 on Friday. The stock has a market cap of $65.67 billion, a price-to-earnings ratio of 32.31 and a beta of 0.62. Enbridge Inc has a 52-week low of $37.37 and a 52-week high of $45.77. The stock’s 50 day moving average price is $40.65 and its 200-day moving average price is $41.00.
Enbridge (NYSE:ENB) (TSE:ENB) last issued its earnings results on Thursday, August 3rd. The pipeline company reported $0.30 EPS for the quarter, missing the Zacks’ consensus estimate of $0.35 by $0.05. Enbridge had a net margin of 5.28% and a return on equity of 6.04%. The business had revenue of $8.26 billion during the quarter, compared to analysts’ expectations of $8.81 billion. During the same period in the prior year, the business posted $0.50 EPS. On average, analysts predict that Enbridge Inc will post $1.64 earnings per share for the current fiscal 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 represents a $1.96 dividend on an annualized basis and a dividend yield of 4.90%. The ex-dividend date is Friday, August 11th. This is an increase from Enbridge’s previous quarterly dividend of $0.33. Enbridge’s dividend payout ratio (DPR) is currently 173.79%.
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A number of analysts have issued reports on ENB shares. Zacks Investment Research lowered Enbridge from a “hold” rating to a “strong sell” rating in a research report on Monday, April 24th. J P Morgan Chase & Co reissued a “neutral” rating on shares of Enbridge in a research report on Friday, June 23rd. Morgan Stanley started coverage on Enbridge in a research report on Tuesday, May 2nd. They issued an “equal weight” rating and a $45.00 target price on the stock. BidaskClub raised Enbridge from a “strong sell” rating to a “sell” rating in a research report on Saturday, June 24th. Finally, Wolfe Research started coverage on Enbridge in a research report on Friday, May 12th. They issued 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 assigned a hold rating and eight have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $54.00.
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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