Marshall Wace North America L.P. Acquires New Position in Enbridge Inc (ENB)
Marshall Wace North America L.P. acquired a new position in Enbridge Inc (NYSE:ENB) (TSE:ENB) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 7,614 shares of the pipeline company’s stock, valued at approximately $305,000.
A number of other large investors have also modified their holdings of ENB. First Personal Financial Services bought a new position in Enbridge in the first quarter worth approximately $102,000. Monroe Bank & Trust MI acquired a new position in shares of Enbridge during the first quarter worth $105,000. Kistler Tiffany Companies LLC acquired a new position in shares of Enbridge during the first quarter worth $109,000. NEXT Financial Group Inc increased its position in shares of Enbridge by 17.7% during the second quarter. NEXT Financial Group Inc now owns 2,731 shares of the pipeline company’s stock worth $109,000 after purchasing an additional 411 shares in the last quarter. Finally, Bbva Compass Bancshares Inc. acquired a new position in shares of Enbridge during the first quarter worth $154,000. 61.61% of the stock is owned by institutional investors.
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Shares of Enbridge Inc (ENB) opened at 41.17 on Friday. Enbridge Inc has a 12-month low of $37.37 and a 12-month high of $45.09. The stock has a market capitalization of $67.75 billion, a price-to-earnings ratio of 33.25 and a beta of 0.63. The firm has a 50-day moving average of $40.47 and a 200 day moving average of $40.54.
Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings data 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 business had revenue of $8.26 billion during the quarter, compared to analyst estimates of $8.81 billion. Enbridge had a net margin of 5.28% and a return on equity of 6.04%. During the same quarter in the prior year, the firm posted $0.50 earnings per share. Equities analysts forecast that Enbridge Inc will post $1.69 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Tuesday, August 15th were issued a $0.489 dividend. This is an increase from Enbridge’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend was Friday, August 11th. This represents a $1.96 annualized dividend and a dividend yield of 4.75%. Enbridge’s payout ratio is presently 190.29%.
A number of brokerages have recently issued reports on ENB. BidaskClub downgraded 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 from $45.00) on shares of Enbridge in a research report on Friday, July 14th. 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 downgraded 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, five have given a hold rating and four have assigned a buy rating to the company’s stock. Enbridge currently has a consensus rating of “Hold” and an average target price of $54.67.
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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