Advisors Management Group Inc. ADV Buys 1,342 Shares of Enbridge Inc (ENB)
Advisors Management Group Inc. ADV increased its position in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 1.3% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 103,446 shares of the pipeline company’s stock after buying an additional 1,342 shares during the period. Enbridge comprises approximately 2.3% of Advisors Management Group Inc. ADV’s portfolio, making the stock its 15th largest position. Advisors Management Group Inc. ADV’s holdings in Enbridge were worth $4,118,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Dimensional Fund Advisors LP boosted its position in shares of Enbridge by 3.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 195,023 shares of the pipeline company’s stock worth $8,214,000 after buying an additional 7,196 shares in the last quarter. CGOV Asset Management boosted its position in shares of Enbridge by 49.1% in the first quarter. CGOV Asset Management now owns 1,093,641 shares of the pipeline company’s stock worth $60,927,000 after buying an additional 360,225 shares in the last quarter. Bank of The West bought a new position in shares of Enbridge during the first quarter worth approximately $241,000. Hartford Financial Management Inc. bought a new position in shares of Enbridge during the first quarter worth approximately $1,790,000. Finally, Ledyard National Bank boosted its position in shares of Enbridge by 4,262.0% in the first quarter. Ledyard National Bank now owns 8,724 shares of the pipeline company’s stock worth $365,000 after buying an additional 8,524 shares in the last quarter. Institutional investors own 63.37% of the company’s stock.
Shares of Enbridge Inc (NYSE:ENB) traded down 0.51% during mid-day trading on Monday, reaching $39.22. The company had a trading volume of 248,969 shares. Enbridge Inc has a 52-week low of $37.37 and a 52-week high of $45.77. The company has a market capitalization of $64.55 billion, a PE ratio of 32.15 and a beta of 0.62. The company’s 50-day moving average price is $40.59 and its 200-day moving average price is $40.82.
Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings results on Thursday, August 3rd. The pipeline company reported $0.30 earnings per share (EPS) for the quarter, missing the Zacks’ 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 firm had revenue of $8.26 billion for the quarter, compared to the consensus estimate of $8.81 billion. During the same quarter last year, the company earned $0.50 earnings per share. On average, analysts forecast 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 dividend of $0.489 per share. This represents a $1.96 dividend on an annualized basis and a yield of 4.96%. This is a boost from Enbridge’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend is Friday, August 11th. Enbridge’s dividend payout ratio is 190.29%.
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ENB has been the topic of a number of recent research reports. Zacks Investment Research cut Enbridge from a “hold” rating to a “strong sell” rating in a research note on Monday, April 24th. Morgan Stanley assumed coverage on Enbridge in a research note on Tuesday, May 2nd. They issued an “equal weight” rating and a $45.00 price target on the stock. Wolfe Research assumed coverage on Enbridge in a research note on Friday, May 12th. They issued a “market perform” rating and a $43.00 price target on the stock. J P Morgan Chase & Co reiterated a “neutral” rating on shares of Enbridge in a research note on Friday, June 23rd. Finally, BidaskClub upgraded Enbridge from a “strong sell” rating to a “sell” rating in a research note on Saturday, June 24th. 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 company’s stock. The company 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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