Enbridge Inc (ENB) Position Reduced by D.A. Davidson & CO.
D.A. Davidson & CO. lowered its position in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 15.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 148,558 shares of the pipeline company’s stock after selling 27,401 shares during the period. D.A. Davidson & CO.’s holdings in Enbridge were worth $5,914,000 as of its most recent SEC filing.
A number of other large investors have also recently modified their holdings of ENB. Caisse DE Depot ET Placement DU Quebec lifted its position in Enbridge by 10.9% during the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 43,464,138 shares of the pipeline company’s stock valued at $1,818,540,000 after purchasing an additional 4,256,369 shares during the last quarter. TD Asset Management Inc. lifted its position in Enbridge by 4.6% during the second quarter. TD Asset Management Inc. now owns 43,401,073 shares of the pipeline company’s stock valued at $1,726,420,000 after purchasing an additional 1,909,405 shares during the last quarter. Vanguard Group Inc. lifted its position in Enbridge by 82.9% during 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 purchasing an additional 17,671,076 shares during the last quarter. FMR LLC lifted its position in Enbridge by 30.6% during the first quarter. FMR LLC now owns 34,484,573 shares of the pipeline company’s stock valued at $1,444,626,000 after purchasing an additional 8,072,511 shares during the last quarter. Finally, Bank of America Corp DE lifted its position in Enbridge by 1,072.3% during 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 purchasing an additional 28,125,698 shares during the last quarter. 61.58% of the stock is owned by institutional investors.
Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings results on Thursday, August 3rd. The pipeline company reported $0.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.05). The company had revenue of $8.26 billion during the quarter, compared to the consensus estimate of $8.81 billion. Enbridge had a return on equity of 6.04% and a net margin of 5.28%. During the same quarter in the prior year, the business earned $0.50 earnings per share.
The business also recently declared a quarterly dividend, which was paid on Friday, September 1st. Investors of record on Tuesday, August 15th were given a $0.489 dividend. The ex-dividend date was Friday, August 11th. This is an increase from Enbridge’s previous quarterly dividend of $0.33. This represents a $1.96 dividend on an annualized basis and a yield of 4.73%. Enbridge’s dividend payout ratio (DPR) is currently 190.29%.
ENB has been the subject of several 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 report on Tuesday, July 11th. Morgan Stanley restated an “equal weight” rating and issued a $44.00 price objective (down from $45.00) on shares of Enbridge in a report on Friday, July 14th. Finally, J P Morgan Chase & Co restated a “neutral” rating on shares of Enbridge in a report on Friday, June 23rd. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company’s stock. Enbridge currently has an average rating of “Hold” and a consensus target price of $54.67.
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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