Mitchell Mcleod Pugh & Williams Inc. Continues to Hold Position in Enbridge Inc (NYSE:ENB)
Mitchell Mcleod Pugh & Williams Inc. maintained its stake in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,036 shares of the pipeline company’s stock at the end of the second quarter. Mitchell Mcleod Pugh & Williams Inc.’s holdings in Enbridge were worth $997,000 at the end of the most recent reporting period.
A number of other hedge funds also recently made changes to their positions in ENB. First Personal Financial Services bought a new stake in shares of Enbridge during the first quarter valued at approximately $102,000. Financial Architects Inc raised its stake in shares of Enbridge by 2,987.7% in the first quarter. Financial Architects Inc now owns 2,501 shares of the pipeline company’s stock valued at $105,000 after buying an additional 2,420 shares in the last quarter. Monroe Bank & Trust MI bought a new stake in shares of Enbridge during the first quarter valued at approximately $105,000. Kistler Tiffany Companies LLC acquired a new stake in Enbridge during the first quarter valued at about $109,000. Finally, NEXT Financial Group Inc raised its stake in Enbridge by 17.7% in the second quarter. NEXT Financial Group Inc now owns 2,731 shares of the pipeline company’s stock valued at $109,000 after buying an additional 411 shares during the period. 63.83% of the stock is currently owned by institutional investors and hedge funds.
Enbridge Inc (ENB) opened at 41.53 on Monday. The stock has a market cap of $68.06 billion, a PE ratio of 43.49 and a beta of 0.62. The company’s 50-day moving average is $40.07 and its 200 day moving average is $41.05. Enbridge Inc has a 52 week low of $37.37 and a 52 week high of $45.77.
Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings data on Thursday, August 3rd. The pipeline company reported $0.30 earnings per share for the quarter, missing the Thomson Reuters’ 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 business had revenue of $8.26 billion during the quarter, compared to the consensus estimate of $8.81 billion. During the same quarter last year, the company earned $0.50 EPS. On average, analysts expect that Enbridge Inc will post $1.78 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Tuesday, August 15th will be paid a dividend of $0.489 per share. This is a boost from Enbridge’s previous quarterly dividend of $0.33. The ex-dividend date is Friday, August 11th. This represents a $1.96 dividend on an annualized basis and a yield of 4.71%. Enbridge’s dividend payout ratio (DPR) is presently 173.79%.
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ENB has been the topic of several research reports. Morgan Stanley initiated coverage on shares of Enbridge in a research report on Tuesday, May 2nd. They issued an “equal weight” rating and a $45.00 price target on the stock. BidaskClub raised shares of Enbridge from a “strong sell” rating to a “sell” rating in a research report on Saturday, June 24th. Zacks Investment Research lowered shares of Enbridge from a “hold” rating to a “strong sell” rating in a research report on Monday, April 24th. Wolfe Research initiated coverage on shares of Enbridge in a research report on Friday, May 12th. They issued a “market perform” rating and a $43.00 price target on the stock. Finally, J P Morgan Chase & Co reissued a “neutral” rating on shares of Enbridge in a research report on Friday, June 23rd. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus 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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