Enbridge Inc (ENB) Stake Boosted by Checchi Capital Advisers LLC
Checchi Capital Advisers LLC boosted its position in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 17.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 11,909 shares of the pipeline company’s stock after buying an additional 1,800 shares during the period. Checchi Capital Advisers LLC’s holdings in Enbridge were worth $474,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. Caisse DE Depot ET Placement DU Quebec boosted its stake in 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 valued at $1,818,540,000 after buying an additional 4,256,369 shares during the period. TD Asset Management Inc. boosted its stake in Enbridge by 4.6% in the second quarter. TD Asset Management Inc. now owns 43,401,073 shares of the pipeline company’s stock valued at $1,726,420,000 after buying an additional 1,909,405 shares during the period. Vanguard Group Inc. boosted 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 during the period. FMR LLC boosted 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 during the period. Finally, Bank of America Corp DE boosted 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 during the period. 63.37% of the stock is owned by hedge funds and other institutional investors.
Enbridge Inc (NYSE:ENB) opened at 39.23 on Wednesday. Enbridge Inc has a 1-year low of $37.37 and a 1-year high of $45.77. The company has a market cap of $64.57 billion, a price-to-earnings ratio of 31.77 and a beta of 0.62. The company’s 50 day moving average is $40.67 and its 200 day moving average is $40.87.
Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings data on Thursday, August 3rd. The pipeline company reported $0.30 earnings per share for the quarter, missing analysts’ consensus estimates 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 period in the previous year, the business posted $0.50 EPS. Equities research analysts forecast that Enbridge Inc will post $1.57 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Tuesday, August 15th will be issued a dividend of $0.489 per share. The ex-dividend date of this dividend is Friday, August 11th. This represents a $1.96 dividend on an annualized basis and a yield of 4.99%. This is a boost from Enbridge’s previous quarterly dividend of $0.33. Enbridge’s dividend payout ratio (DPR) is presently 190.29%.
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ENB has been the subject of several research reports. Zacks Investment Research cut shares of Enbridge from a “hold” rating to a “strong sell” rating in a research report on Monday, April 24th. J P Morgan Chase & Co reaffirmed a “neutral” rating on shares of Enbridge in a research report on Friday, June 23rd. 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 for the company. BidaskClub raised shares of Enbridge from a “strong sell” rating to a “sell” rating in a research report on Saturday, June 24th. Finally, 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 for the company. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have assigned a buy rating to the company’s stock. Enbridge has an average rating of “Hold” and an average price target 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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