Good Life Advisors LLC Has $368,000 Position in Enbridge Inc (ENB)
Good Life Advisors LLC decreased its stake in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 2.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,205 shares of the pipeline company’s stock after selling 219 shares during the period. Good Life Advisors LLC’s holdings in Enbridge were worth $368,000 at the end of the most recent quarter.
A number of other hedge funds also recently bought and sold shares of ENB. Bank of America Corp DE increased 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 in the last quarter. Vanguard Group Inc. increased 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 in the last quarter. State Street Corp bought a new stake in Enbridge during the first quarter valued at approximately $478,509,000. TD Asset Management Inc. increased 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 in the last quarter. Finally, FMR LLC increased its stake in Enbridge by 30.6% in the first quarter. FMR LLC now owns 34,484,573 shares of the pipeline company’s stock valued at $1,444,626,000 after buying an additional 8,072,511 shares in the last quarter. 61.61% of the stock is owned by hedge funds and other institutional investors.
Enbridge Inc (NYSE:ENB) traded down 1.16% during trading on Wednesday, reaching $39.31. The company’s stock had a trading volume of 201,154 shares. Enbridge Inc has a 52 week low of $37.37 and a 52 week high of $45.77. The stock has a market capitalization of $64.70 billion, a price-to-earnings ratio of 32.19 and a beta of 0.62. The firm has a 50 day moving average of $40.63 and a 200 day moving average of $40.73.
Enbridge (NYSE:ENB) (TSE:ENB) last announced 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 return on equity of 6.04% and a net margin of 5.28%. The company had revenue of $8.26 billion for the quarter, compared to analyst estimates of $8.81 billion. During the same quarter in the previous year, the company posted $0.50 earnings per share. Analysts expect that Enbridge Inc will post $1.60 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Tuesday, August 15th will be given a dividend of $0.489 per share. This represents a $1.96 dividend on an annualized basis and a dividend yield of 4.92%. This is a positive change from Enbridge’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend is Friday, August 11th. Enbridge’s dividend payout ratio is presently 190.29%.
ENB has been the subject of several analyst reports. Zacks Investment Research downgraded Enbridge from a “hold” rating to a “sell” rating in a research note on Tuesday, July 11th. J P Morgan Chase & Co reaffirmed a “neutral” rating on shares of Enbridge in a research note on Friday, June 23rd. Morgan Stanley initiated coverage on Enbridge in a research note on Tuesday, May 2nd. They set an “equal weight” rating and a $45.00 price objective for the company. BidaskClub raised Enbridge from a “strong sell” rating to a “sell” rating in a research note on Saturday, June 24th. Finally, Wolfe Research initiated coverage on Enbridge in a research note on Friday, May 12th. They set a “market perform” rating and a $43.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and eight have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $54.00.
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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