Enbridge Inc (ENB) Stake Lowered by Neuberger Berman Group LLC
Neuberger Berman Group LLC decreased its stake in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 23.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,667,569 shares of the pipeline company’s stock after selling 1,425,625 shares during the period. Neuberger Berman Group LLC owned about 0.28% of Enbridge worth $185,816,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently bought and sold shares of ENB. First Personal Financial Services bought a new position in Enbridge during the first quarter valued at $102,000. Financial Architects Inc raised its position in 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 during the period. Monroe Bank & Trust MI bought a new position in Enbridge during the first quarter valued at $105,000. Kistler Tiffany Companies LLC bought a new position in Enbridge during the first quarter valued at $109,000. Finally, North Star Investment Management Corp. raised its position in Enbridge by 196.7% in the first quarter. North Star Investment Management Corp. now owns 2,670 shares of the pipeline company’s stock valued at $112,000 after buying an additional 1,770 shares during the period. 61.61% of the stock is currently owned by hedge funds and other institutional investors.
Enbridge Inc (NYSE:ENB) opened at 40.39 on Monday. Enbridge Inc has a 12-month low of $37.37 and a 12-month high of $45.77. The company’s 50 day moving average price is $40.63 and its 200-day moving average price is $40.73. The firm has a market capitalization of $66.47 billion, a price-to-earnings ratio of 33.11 and a beta of 0.62.
Enbridge (NYSE:ENB) (TSE:ENB) last announced its earnings results on Thursday, August 3rd. The pipeline company reported $0.30 EPS for the quarter, missing the Zacks’ 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 company 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 business posted $0.50 earnings per share. On average, equities analysts anticipate that Enbridge Inc will post $1.60 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Tuesday, August 15th will be issued a $0.489 dividend. This is a boost from Enbridge’s previous quarterly dividend of $0.33. This represents a $1.96 dividend on an annualized basis and a yield of 4.84%. The ex-dividend date of this dividend is Friday, August 11th. Enbridge’s dividend payout ratio (DPR) is currently 190.29%.
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Several research firms have weighed in on ENB. BidaskClub lowered Enbridge from a “sell” rating to a “strong sell” rating in a research report on Friday, August 11th. Morgan Stanley reaffirmed an “equal weight” rating and set a $44.00 price target (down previously from $45.00) on shares of Enbridge in a research report on Friday, July 14th. Wolfe Research began 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. J P Morgan Chase & Co reaffirmed a “neutral” rating on shares of Enbridge in a research report on Friday, June 23rd. Finally, Zacks Investment Research lowered Enbridge from a “hold” rating to a “sell” rating in a research report on Tuesday, July 11th. Two analysts have rated the stock with a sell rating, six have given a hold rating and eight have assigned a buy rating to the stock. Enbridge currently 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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