Trillium Asset Management LLC Has $330,000 Position in Enbridge Inc (ENB)
Trillium Asset Management LLC cut its stake in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 25.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,298 shares of the pipeline company’s stock after selling 2,872 shares during the period. Trillium Asset Management LLC’s holdings in Enbridge were worth $330,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in ENB. Caisse DE Depot ET Placement DU Quebec raised its position 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 last quarter. TD Asset Management Inc. raised its position 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 last quarter. Vanguard Group Inc. raised its position 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 last quarter. FMR LLC raised its position 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 last quarter. Finally, Bank of America Corp DE raised its position 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 last quarter. 63.37% of the stock is currently owned by hedge funds and other institutional investors.
Enbridge Inc (NYSE ENB) opened at 39.17 on Thursday. Enbridge Inc has a 1-year low of $37.37 and a 1-year high of $45.77. The firm has a 50-day moving average price of $40.64 and a 200-day moving average price of $40.86. The company has a market capitalization of $64.47 billion, a P/E ratio of 31.72 and a beta of 0.62.
Enbridge (NYSE:ENB) (TSE:ENB) last released its earnings results on Thursday, August 3rd. The pipeline company reported $0.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by $0.05. Enbridge had a net margin of 5.28% and a return on equity of 6.04%. The business had revenue of $8.26 billion during the quarter, compared to the consensus estimate of $8.81 billion. During the same period in the prior year, the company earned $0.50 earnings per share. On average, analysts forecast that Enbridge Inc will post $1.57 EPS for the current fiscal year.
The company 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. This represents a $1.96 annualized dividend and a yield of 4.99%. This is a positive change from Enbridge’s previous quarterly dividend of $0.33. The ex-dividend date is Friday, August 11th. Enbridge’s dividend payout ratio is 190.29%.
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ENB has been the topic of several analyst reports. Morgan Stanley assumed coverage on Enbridge in a research note on Tuesday, May 2nd. They issued an “equal weight” rating and a $45.00 target price on the stock. BidaskClub lowered Enbridge from a “sell” rating to a “strong sell” rating in a research report on Friday, August 11th. Zacks Investment Research lowered Enbridge from a “hold” rating to a “strong sell” rating in a research report on Monday, April 24th. Wolfe Research assumed coverage on Enbridge in a research report on Friday, May 12th. They set a “market perform” rating and a $43.00 price target on the stock. Finally, J P Morgan Chase & Co reaffirmed a “neutral” rating on shares of Enbridge in a research report on Friday, June 23rd. Two analysts have rated the stock with a sell rating, six have given a hold rating and eight have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price 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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