Enbridge Inc (ENB) Position Increased by Addenda Capital Inc.
Addenda Capital Inc. raised its position in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 5.2% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 1,561,237 shares of the pipeline company’s stock after buying an additional 76,722 shares during the period. Enbridge accounts for 4.6% of Addenda Capital Inc.’s portfolio, making the stock its 4th largest position. Addenda Capital Inc.’s holdings in Enbridge were worth $62,105,000 at the end of the most recent reporting period.
Several other large investors have also bought and sold shares of the stock. First Personal Financial Services acquired a new stake in Enbridge during the first quarter worth approximately $102,000. Financial Architects Inc boosted its stake in 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 acquired a new stake in Enbridge during the first quarter worth approximately $105,000. Kistler Tiffany Companies LLC acquired a new stake in Enbridge during the first quarter worth approximately $109,000. Finally, NEXT Financial Group Inc boosted its stake in Enbridge by 17.7% in the second quarter. NEXT Financial Group Inc now owns 2,731 shares of the pipeline company’s stock worth $109,000 after buying an additional 411 shares during the period. Hedge funds and other institutional investors own 63.37% of the company’s stock.
Shares of Enbridge Inc (NYSE ENB) opened at 39.13 on Friday. Enbridge Inc has a 12-month low of $37.37 and a 12-month high of $45.77. The company has a 50-day moving average price of $40.61 and a 200 day moving average price of $40.85. The firm has a market capitalization of $64.40 billion, a PE ratio of 31.68 and a beta of 0.62.
Enbridge (NYSE:ENB) (TSE:ENB) last issued its earnings results on Thursday, August 3rd. The pipeline company reported $0.30 earnings per share (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 company had revenue of $8.26 billion during the quarter, compared to analysts’ expectations of $8.81 billion. During the same period last year, the business posted $0.50 earnings per share. On average, equities analysts expect that Enbridge Inc will post $1.57 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Tuesday, August 15th will be issued a $0.489 dividend. The ex-dividend date is Friday, August 11th. This is a boost from Enbridge’s previous quarterly dividend of $0.33. This represents a $1.96 dividend on an annualized basis and a yield of 5.00%. Enbridge’s dividend payout ratio (DPR) is 190.29%.
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A number of equities research analysts have recently commented on the company. J P Morgan Chase & Co restated a “neutral” rating on shares of Enbridge in a research report on Friday, June 23rd. Wolfe Research assumed coverage on Enbridge in a research report on Friday, May 12th. They set a “market perform” rating and a $43.00 target price on the stock. Morgan Stanley restated an “equal weight” rating and set a $44.00 target price (down from $45.00) on shares of Enbridge in a research report on Friday, July 14th. Zacks Investment Research cut Enbridge from a “hold” rating to a “sell” rating in a research report on Tuesday, July 11th. Finally, BidaskClub upgraded Enbridge from a “strong sell” rating to a “sell” rating in a research report on Saturday, June 24th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and eight have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus 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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