Enbridge Inc (ENB) Stake Held by Murphy Pohlad Asset Management LLC
Murphy Pohlad Asset Management LLC continued to hold its position in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 13,793 shares of the pipeline company’s stock at the end of the second quarter. Murphy Pohlad Asset Management LLC’s holdings in Enbridge were worth $549,000 as of its most recent SEC filing.
Other institutional investors have also modified their holdings of the company. Legal & General Group Plc boosted its position in shares of Enbridge by 3.0% in the second quarter. Legal & General Group Plc now owns 9,455,906 shares of the pipeline company’s stock worth $369,170,000 after buying an additional 277,301 shares in the last quarter. Checchi Capital Advisers LLC boosted its position in shares of Enbridge by 17.8% in the second quarter. Checchi Capital Advisers LLC now owns 11,909 shares of the pipeline company’s stock worth $474,000 after buying an additional 1,800 shares in the last quarter. Fiduciary Financial Services of The Southwest Inc. TX boosted its position in shares of Enbridge by 1.8% in the second quarter. Fiduciary Financial Services of The Southwest Inc. TX now owns 51,594 shares of the pipeline company’s stock worth $2,054,000 after buying an additional 889 shares in the last quarter. Morningstar Investment Services LLC boosted its position in shares of Enbridge by 8.9% in the second quarter. Morningstar Investment Services LLC now owns 2,075,719 shares of the pipeline company’s stock worth $82,634,000 after buying an additional 170,183 shares in the last quarter. Finally, Donaldson Capital Management LLC boosted its position in shares of Enbridge by 29.7% in the second quarter. Donaldson Capital Management LLC now owns 524,872 shares of the pipeline company’s stock worth $20,895,000 after buying an additional 120,305 shares in the last quarter. 63.37% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Enbridge Inc (NYSE ENB) opened at 39.23 on Wednesday. The company’s 50-day moving average is $40.67 and its 200-day moving average is $40.87. Enbridge Inc has a one year low of $37.37 and a one year high of $45.77. The company has a market capitalization of $64.57 billion, a PE ratio of 31.77 and a beta of 0.62.
Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings results on Thursday, August 3rd. The pipeline company reported $0.30 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.35 by $0.05. The business had revenue of $8.26 billion for 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 firm earned $0.50 earnings per share. Equities analysts predict that Enbridge Inc will post $1.57 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Tuesday, August 15th will be paid a dividend of $0.489 per share. This represents a $1.96 dividend on an annualized basis and a dividend yield of 4.99%. This is an increase from Enbridge’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend is Friday, August 11th. Enbridge’s payout ratio is 190.29%.
COPYRIGHT VIOLATION NOTICE: This piece of content was first reported by The Cerbat Gem and is owned by of The Cerbat Gem. If you are reading this piece of content on another publication, it was stolen and reposted in violation of US and international trademark and copyright legislation. The correct version of this piece of content can be viewed at https://www.thecerbatgem.com/2017/08/16/enbridge-inc-enb-stake-held-by-murphy-pohlad-asset-management-llc.html.
A number of equities analysts have issued reports on the stock. BidaskClub cut shares of Enbridge from a “sell” rating to a “strong sell” rating in a report on Friday, August 11th. Morgan Stanley reissued an “equal weight” rating and issued a $44.00 target price (down previously from $45.00) on shares of Enbridge in a report on Friday, July 14th. Zacks Investment Research cut shares of Enbridge from a “hold” rating to a “sell” rating in a report on Tuesday, July 11th. J P Morgan Chase & Co reissued a “neutral” rating on shares of Enbridge in a report on Friday, June 23rd. Finally, Wolfe Research assumed coverage on shares of Enbridge in a report on Friday, May 12th. They issued a “market perform” rating and a $43.00 target price on the stock. 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 company. Enbridge currently has a consensus 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.
Want to see what other hedge funds are holding ENB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Enbridge Inc (NYSE:ENB) (TSE:ENB).
Receive News & Stock Ratings for Enbridge Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Enbridge Inc and related stocks with our FREE daily email newsletter.