Ray Gerald L & Associates Ltd. Maintains Stake in Enbridge Inc (ENB)
Ray Gerald L & Associates Ltd. held its position in Enbridge Inc (NYSE:ENB) (TSE:ENB) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,120 shares of the pipeline company’s stock at the end of the second quarter. Ray Gerald L & Associates Ltd.’s holdings in Enbridge were worth $721,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. 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 in 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 in the last quarter. State Street Corp bought a new position in Enbridge during the first quarter valued at $478,509,000. TD Asset Management Inc. raised its position in Enbridge by 28.2% in the first quarter. TD Asset Management Inc. now owns 41,491,668 shares of the pipeline company’s stock valued at $1,733,219,000 after buying an additional 9,123,400 shares in the last quarter. Finally, 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 in the last quarter. Hedge funds and other institutional investors own 61.61% of the company’s stock.
Shares of Enbridge Inc (NYSE:ENB) opened at 39.50 on Thursday. The company has a market capitalization of $65.01 billion, a P/E ratio of 32.35 and a beta of 0.62. Enbridge Inc has a 52-week low of $37.37 and a 52-week high of $45.77. The firm has a 50-day moving average of $40.63 and a 200 day moving average of $40.73.
Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings results on Thursday, August 3rd. The pipeline company reported $0.30 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by $0.05. The company had revenue of $8.26 billion during the quarter, compared to analysts’ expectations of $8.81 billion. Enbridge had a net margin of 5.28% and a return on equity of 6.04%. During the same period in the previous year, the company posted $0.50 earnings per share. On average, analysts anticipate that Enbridge Inc will post $1.60 EPS for the current year.
The business 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 is a positive change from Enbridge’s previous quarterly dividend of $0.33. This represents a $1.96 dividend on an annualized basis and a yield of 4.95%. The ex-dividend date is Friday, August 11th. Enbridge’s dividend payout ratio is presently 190.29%.
ENB has been the topic of several research reports. Zacks Investment Research lowered shares of Enbridge from a “hold” rating to a “sell” rating in a research note on Tuesday, July 11th. J P Morgan Chase & Co reiterated a “neutral” rating on shares of Enbridge in a research note on Friday, June 23rd. BidaskClub upgraded shares of Enbridge from a “strong sell” rating to a “sell” rating in a research note on Saturday, June 24th. Wolfe Research initiated coverage on shares of Enbridge in a research note on Friday, May 12th. They issued a “market perform” rating and a $43.00 price objective on the stock. Finally, Morgan Stanley reiterated an “equal weight” rating and issued a $44.00 price objective (down previously from $45.00) on shares of Enbridge in a research note on Friday, July 14th. Two 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. The company presently has a consensus rating of “Hold” and an average 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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