Federated Investors Inc. PA Invests $7.99 Million in Enbridge Inc (ENB)
Federated Investors Inc. PA acquired a new 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. The institutional investor acquired 200,754 shares of the pipeline company’s stock, valued at approximately $7,992,000.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Caisse DE Depot ET Placement DU Quebec boosted 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 worth $1,818,540,000 after buying an additional 4,256,369 shares in the last quarter. TD Asset Management Inc. boosted 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 worth $1,726,420,000 after buying an additional 1,909,405 shares in the last quarter. Vanguard Group Inc. boosted 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 worth $1,631,051,000 after buying an additional 17,671,076 shares in the last quarter. FMR LLC boosted 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 worth $1,444,626,000 after buying an additional 8,072,511 shares in the last quarter. Finally, Bank of America Corp DE boosted 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 worth $1,286,524,000 after buying an additional 28,125,698 shares in the last quarter. 61.61% of the stock is currently owned by institutional investors.
Shares of Enbridge Inc (NYSE:ENB) opened at 39.77 on Wednesday. Enbridge Inc has a one year low of $37.37 and a one year high of $45.77. The stock has a market capitalization of $65.45 billion, a PE ratio of 32.60 and a beta of 0.62. The stock’s 50 day moving average price is $40.63 and its 200 day moving average price is $40.73.
Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings data 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 return on equity of 6.04% and a net margin of 5.28%. The business had revenue of $8.26 billion for the quarter, compared to analyst estimates of $8.81 billion. During the same quarter last year, the business earned $0.50 EPS. Equities research analysts predict that Enbridge Inc will post $1.60 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Tuesday, August 15th will be given a $0.489 dividend. This is a positive change from Enbridge’s previous quarterly dividend of $0.33. This represents a $1.96 annualized dividend and a dividend yield of 4.92%. The ex-dividend date of this dividend is Friday, August 11th. Enbridge’s dividend payout ratio (DPR) is 190.29%.
ENB has been the topic of a number of research analyst reports. BidaskClub raised Enbridge from a “strong sell” rating to a “sell” rating in a report on Friday, August 25th. Morgan Stanley initiated coverage on Enbridge in a report on Tuesday, May 2nd. They issued an “equal weight” rating and a $45.00 price target on the stock. Zacks Investment Research cut Enbridge from a “hold” rating to a “sell” rating in a report on Tuesday, July 11th. Wolfe Research initiated coverage on Enbridge in a report on Friday, May 12th. They issued a “market perform” rating and a $43.00 price target on the stock. Finally, J P Morgan Chase & Co reissued a “neutral” rating on shares of Enbridge in a report on Friday, June 23rd. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus 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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