Texas Yale Capital Corp. Maintains Stake in Enbridge Inc (ENB)
Texas Yale Capital Corp. continued to hold its position in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 50,533 shares of the pipeline company’s stock at the end of the second quarter. Texas Yale Capital Corp.’s holdings in Enbridge were worth $2,012,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Caisse DE Depot ET Placement DU Quebec boosted its position in shares of Enbridge by 10.9% in the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 43,464,138 shares of the pipeline company’s stock worth $1,818,540,000 after buying an additional 4,256,369 shares during the period. TD Asset Management Inc. boosted its position in shares of Enbridge by 4.6% in the second quarter. TD Asset Management Inc. now owns 43,401,073 shares of the pipeline company’s stock worth $1,726,420,000 after buying an additional 1,909,405 shares during the period. Vanguard Group Inc. boosted its position in shares of Enbridge by 82.9% in the first quarter. Vanguard Group Inc. now owns 38,983,086 shares of the pipeline company’s stock worth $1,631,051,000 after buying an additional 17,671,076 shares during the period. FMR LLC boosted its position in shares of Enbridge by 30.6% in the first quarter. FMR LLC now owns 34,484,573 shares of the pipeline company’s stock worth $1,444,626,000 after buying an additional 8,072,511 shares during the period. Finally, Bank of America Corp DE boosted its position in shares of 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 worth $1,286,524,000 after buying an additional 28,125,698 shares during the period. 63.37% of the stock is currently owned by institutional investors and hedge funds.
Enbridge Inc (NYSE:ENB) opened at 39.42 on Friday. Enbridge Inc has a one year low of $37.37 and a one year high of $45.77. The stock’s 50 day moving average is $40.59 and its 200-day moving average is $40.82. The firm has a market cap of $64.88 billion, a price-to-earnings ratio of 31.92 and a beta of 0.62.
Enbridge (NYSE:ENB) (TSE:ENB) last announced 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 firm 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 period last year, the business earned $0.50 EPS. On average, equities research analysts expect that Enbridge Inc will post $1.58 earnings per share for the current fiscal year.
The company also recently declared 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. This represents a $1.96 dividend on an annualized basis and a yield of 4.96%. The ex-dividend date is Friday, August 11th. This is a positive change from Enbridge’s previous quarterly dividend of $0.33. Enbridge’s dividend payout ratio (DPR) is 190.29%.
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A number of research analysts recently issued reports on ENB shares. Morgan Stanley started coverage on shares of Enbridge in a research note on Tuesday, May 2nd. They issued an “equal weight” rating and a $45.00 price objective on the stock. BidaskClub cut shares of Enbridge from a “sell” rating to a “strong sell” rating in a research note on Friday, August 11th. Zacks Investment Research cut shares of Enbridge from a “hold” rating to a “strong sell” rating in a research note on Monday, April 24th. Wolfe Research started coverage on shares of Enbridge in a research note on Friday, May 12th. They issued a “market perform” rating and a $43.00 price objective on the stock. Finally, J P Morgan Chase & Co reissued a “neutral” rating on shares of Enbridge in a research note on Friday, June 23rd. Two analysts have rated the stock with a sell rating, six have given a hold rating and eight have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target 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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