Commonwealth Bank of Australia Has $457.41 Million Holdings in Enbridge Inc (ENB)
Commonwealth Bank of Australia raised its position in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 25.4% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,499,147 shares of the pipeline company’s stock after purchasing an additional 2,328,930 shares during the quarter. Enbridge accounts for approximately 4.6% of Commonwealth Bank of Australia’s portfolio, making the stock its largest position. Commonwealth Bank of Australia owned about 0.70% of Enbridge worth $457,414,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Caisse DE Depot ET Placement DU Quebec raised 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 valued at $1,818,540,000 after purchasing an additional 4,256,369 shares during the period. TD Asset Management Inc. raised 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 valued at $1,726,420,000 after purchasing an additional 1,909,405 shares during the period. 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 purchasing an additional 17,671,076 shares during the period. 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 purchasing an additional 8,072,511 shares during the period. Finally, 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 purchasing an additional 28,125,698 shares during the period. 61.61% of the stock is currently owned by institutional investors.
Enbridge Inc (NYSE ENB) traded up 0.184% during mid-day trading on Thursday, hitting $40.885. The stock had a trading volume of 456,571 shares. The company has a 50 day moving average price of $40.62 and a 200-day moving average price of $40.56. Enbridge Inc has a one year low of $37.37 and a one year high of $45.77. The company has a market cap of $67.29 billion, a price-to-earnings ratio of 33.485 and a beta of 0.63.
Enbridge (NYSE:ENB) (TSE:ENB) last released its earnings results on Thursday, August 3rd. The pipeline company reported $0.30 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.35 by $0.05. The company had revenue of $8.26 billion during the quarter, compared to the consensus estimate of $8.81 billion. Enbridge had a return on equity of 6.04% and a net margin of 5.28%. During the same period in the previous year, the firm posted $0.50 EPS. Equities analysts expect that Enbridge Inc will post $1.64 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Tuesday, August 15th were given a $0.489 dividend. The ex-dividend date was Friday, August 11th. This represents a $1.96 annualized dividend and a dividend yield of 4.79%. This is an increase from Enbridge’s previous quarterly dividend of $0.33. Enbridge’s payout ratio is presently 190.29%.
A number of brokerages have issued reports on ENB. Morgan Stanley reissued an “equal weight” rating and issued a $44.00 target price (down previously from $45.00) on shares of Enbridge in a research report on Friday, July 14th. BidaskClub raised Enbridge from a “strong sell” rating to a “sell” rating in a research report on Saturday, June 24th. J P Morgan Chase & Co reissued a “neutral” rating on shares of Enbridge in a research report on Friday, June 23rd. Zacks Investment Research lowered Enbridge from a “hold” rating to a “sell” rating in a research report on Tuesday, July 11th. Finally, Wolfe Research began coverage on Enbridge in a research report on Friday, May 12th. They issued a “market perform” rating and a $43.00 target price on the stock. Two research analysts have rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $53.71.
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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