NBT Bank N A NY Sells 422 Shares of Enbridge Inc (ENB)
NBT Bank N A NY cut its stake in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 5.9% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 6,771 shares of the pipeline company’s stock after selling 422 shares during the period. NBT Bank N A NY’s holdings in Enbridge were worth $270,000 at the end of the most recent reporting period.
A number of other large investors have also recently modified their holdings of the company. Hudock Capital Group LLC boosted its stake in shares of Enbridge by 5,986.3% in the first quarter. Hudock Capital Group LLC now owns 6,208 shares of the pipeline company’s stock valued at $259,000 after buying an additional 6,106 shares during the last quarter. Argyle Capital Management Inc. purchased a new stake in shares of Enbridge during the first quarter valued at $3,994,000. Smith Chas P & Associates PA Cpas purchased a new stake in shares of Enbridge during the first quarter valued at $209,000. Meyer Handelman Co. purchased a new stake in shares of Enbridge during the first quarter valued at $7,364,000. Finally, Schmidt P J Investment Management Inc. boosted its stake in shares of Enbridge by 93.3% in the first quarter. Schmidt P J Investment Management Inc. now owns 60,722 shares of the pipeline company’s stock valued at $2,541,000 after buying an additional 29,304 shares during the last quarter. 61.61% of the stock is currently owned by institutional investors.
Enbridge Inc (NYSE:ENB) opened at 39.50 on Thursday. The firm has a market cap of $65.01 billion, a PE ratio of 32.35 and a beta of 0.62. Enbridge Inc has a one year low of $37.37 and a one year high of $45.77. The stock has a 50 day moving average price of $40.63 and a 200 day moving average price of $40.73.
Enbridge (NYSE:ENB) (TSE:ENB) last released its earnings results on Thursday, August 3rd. The pipeline company reported $0.30 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 for the quarter, compared to analyst estimates of $8.81 billion. During the same period in the prior year, the company earned $0.50 earnings per share. Equities research analysts expect that Enbridge Inc will post $1.62 EPS for the current year.
The company also recently declared 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 represents a $1.96 annualized dividend and a dividend yield of 4.95%. The ex-dividend date is Friday, August 11th. This is an increase from Enbridge’s previous quarterly dividend of $0.33. Enbridge’s dividend payout ratio is 190.29%.
Several equities research analysts recently weighed in on the company. BidaskClub raised Enbridge from a “strong sell” rating to a “sell” rating in a research note on Friday, August 25th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $44.00 price target (down from $45.00) on shares of Enbridge in a research note on Friday, July 14th. 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. Zacks Investment Research cut Enbridge from a “hold” rating to a “sell” rating in a research note on Tuesday, July 11th. Finally, J P Morgan Chase & Co reaffirmed a “neutral” rating on shares of Enbridge in a research note on Friday, June 23rd. Two equities research 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’s stock. The company has an average rating of “Hold” and a consensus price target 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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