Gould Asset Management LLC CA Takes $573,000 Position in Enbridge Inc $ENB

Gould Asset Management LLC CA purchased a new stake in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) during the second quarter, Holdings Channel.com reports. The fund purchased 10,568 shares of the pipeline company’s stock, valued at approximately $573,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in ENB. Triumph Capital Management purchased a new stake in Enbridge in the 3rd quarter valued at about $26,000. Arlington Trust Co LLC lifted its position in shares of Enbridge by 114.6% during the 2nd quarter. Arlington Trust Co LLC now owns 500 shares of the pipeline company’s stock worth $27,000 after buying an additional 267 shares in the last quarter. Turning Point Benefit Group Inc. bought a new position in shares of Enbridge during the 3rd quarter worth approximately $28,000. Inspire Investing LLC purchased a new position in shares of Enbridge in the 4th quarter worth approximately $29,000. Finally, Garner Asset Management Corp purchased a new position in shares of Enbridge in the 4th quarter worth approximately $30,000. 54.60% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently commented on ENB. Wolfe Research set a $50.00 price target on Enbridge in a research report on Tuesday, August 4th. Canadian Imperial Bank of Commerce restated a “neutral” rating on shares of Enbridge in a research note on Monday, May 11th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Enbridge in a research report on Friday, May 22nd. BMO Capital Markets reiterated a “market perform” rating on shares of Enbridge in a research note on Monday, August 3rd. Finally, Wall Street Zen upgraded shares of Enbridge from a “sell” rating to a “hold” rating in a research report on Sunday, July 12th. Four equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat, Enbridge presently has a consensus rating of “Hold” and a consensus target price of $67.00.

Enbridge Trading Down 0.0%

Shares of Enbridge stock opened at $50.89 on Monday. The stock has a market capitalization of $111.15 billion, a P/E ratio of 27.22 and a beta of 0.58. Enbridge Inc has a 52-week low of $45.03 and a 52-week high of $58.45. The company has a debt-to-equity ratio of 1.69, a quick ratio of 0.66 and a current ratio of 0.72. The stock’s 50-day simple moving average is $54.67 and its 200 day simple moving average is $53.95.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its earnings results on Friday, July 31st. The pipeline company reported $0.46 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $0.03. The firm had revenue of $9.70 billion during the quarter, compared to analyst estimates of $8.67 billion. Enbridge had a net margin of 7.20% and a return on equity of 11.17%. During the same quarter last year, the business earned $0.65 earnings per share. As a group, research analysts anticipate that Enbridge Inc will post 2.11 EPS for the current year.

Enbridge Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Friday, August 14th will be paid a dividend of $0.97 per share. This represents a $3.88 dividend on an annualized basis and a dividend yield of 7.6%. The ex-dividend date is Friday, August 14th. Enbridge’s dividend payout ratio is presently 147.06%.

Enbridge Company Profile

Enbridge Inc is a Calgary, Alberta–based energy infrastructure company that develops, owns and operates a diversified portfolio of energy transportation, distribution and generation assets. Its core activities include the operation of crude oil and liquids pipelines, natural gas transmission and distribution systems, and energy storage facilities. In addition to midstream transportation and storage, Enbridge has expanded into renewable power generation and energy transition projects, including wind, solar and utility-scale generation assets.

The company serves customers primarily in Canada and the United States and has interests in other international energy projects.