Enbridge Inc (ENB) Shares Bought by Sandy Spring Bank
Sandy Spring Bank lifted its stake in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 7.5% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 78,010 shares of the pipeline company’s stock after purchasing an additional 5,430 shares during the period. Sandy Spring Bank’s holdings in Enbridge were worth $3,106,000 as of its most recent filing with the SEC.
Several other hedge funds also recently modified their holdings of ENB. First Personal Financial Services acquired a new stake in Enbridge during the first quarter worth about $102,000. Monroe Bank & Trust MI acquired a new stake in Enbridge during the first quarter worth about $105,000. Kistler Tiffany Companies LLC acquired a new stake in Enbridge during the first quarter worth about $109,000. NEXT Financial Group Inc raised its stake in Enbridge by 17.7% during the second quarter. NEXT Financial Group Inc now owns 2,731 shares of the pipeline company’s stock worth $109,000 after acquiring an additional 411 shares during the period. Finally, Welch Group LLC acquired a new stake in Enbridge during the second quarter worth about $121,000. 61.61% of the stock is currently owned by institutional investors and hedge funds.
Several equities research analysts recently weighed in on ENB shares. Morgan Stanley reiterated an “equal weight” rating and set a $44.00 price objective (down previously from $45.00) on shares of Enbridge in a research note on Friday, July 14th. J P Morgan Chase & Co reiterated a “neutral” rating on shares of Enbridge in a research note on Friday, June 23rd. Zacks Investment Research lowered shares of Enbridge from a “hold” rating to a “sell” rating in a research note on Tuesday, July 11th. Finally, BidaskClub upgraded shares of Enbridge from a “strong sell” rating to a “sell” rating in a research note on Saturday, June 24th. Two 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. Enbridge currently has an average rating of “Hold” and an average price target of $54.67.
Enbridge Inc (NYSE:ENB) traded down 0.02% during midday trading on Friday, reaching $41.13. 1,846,078 shares of the company traded hands. The firm has a market capitalization of $67.69 billion, a price-to-earnings ratio of 33.22 and a beta of 0.63. The firm’s 50 day moving average price is $40.47 and its 200 day moving average price is $40.54. Enbridge Inc has a 12 month low of $37.37 and a 12 month high of $45.09.
Enbridge (NYSE:ENB) (TSE:ENB) last issued its earnings results on Thursday, August 3rd. The pipeline company reported $0.30 earnings per share for the quarter, missing the 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 for the quarter, compared to analyst estimates of $8.81 billion. During the same quarter last year, the firm posted $0.50 earnings per share. On average, analysts expect that Enbridge Inc will post $1.69 earnings per share for the current 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 $0.489 dividend. The ex-dividend date of this dividend was Friday, August 11th. This is a positive change from Enbridge’s previous quarterly dividend of $0.33. This represents a $1.96 dividend on an annualized basis and a yield of 4.76%. Enbridge’s payout ratio is 190.29%.
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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