Garner Asset Management Corp Buys New Holdings in Enbridge Inc (ENB)
Garner Asset Management Corp bought a new stake in Enbridge Inc (NYSE:ENB) (TSE:ENB) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 19,955 shares of the pipeline company’s stock, valued at approximately $794,000.
Other large investors have also made changes to their positions in the company. Monroe Bank & Trust MI purchased a new stake in shares of Enbridge in the first quarter valued at about $105,000. NEXT Financial Group Inc raised its holdings in shares of Enbridge by 17.7% in the second quarter. NEXT Financial Group Inc now owns 2,731 shares of the pipeline company’s stock valued at $109,000 after buying an additional 411 shares during the last quarter. First Personal Financial Services raised its holdings in shares of Enbridge by 16.4% in the second quarter. First Personal Financial Services now owns 2,825 shares of the pipeline company’s stock valued at $112,000 after buying an additional 397 shares during the last quarter. Welch Group LLC purchased a new stake in shares of Enbridge in the second quarter valued at about $121,000. Finally, Mark Sheptoff Financial Planning LLC purchased a new stake in shares of Enbridge in the first quarter valued at about $163,000. 61.58% of the stock is owned by institutional investors and hedge funds.
Shares of Enbridge Inc (ENB) traded up 0.75% on Friday, hitting $41.84. 2,085,912 shares of the stock were exchanged. Enbridge Inc has a one year low of $37.37 and a one year high of $45.09. The firm has a market cap of $68.86 billion, a price-to-earnings ratio of 32.84 and a beta of 0.63. The firm’s 50 day moving average price is $40.46 and its 200 day moving average price is $40.52.
Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings data 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 firm had revenue of $8.26 billion during the quarter, compared to the consensus estimate 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 business earned $0.50 earnings per share. Equities analysts anticipate that Enbridge Inc will post $1.64 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 1st. Investors of record on Tuesday, August 15th were given a $0.489 dividend. The ex-dividend date of this dividend was Friday, August 11th. This is an increase from Enbridge’s previous quarterly dividend of $0.33. This represents a $1.96 annualized dividend and a yield of 4.67%. Enbridge’s dividend payout ratio (DPR) is currently 191.26%.
ENB has been the subject of a number of research reports. J P Morgan Chase & Co reaffirmed a “neutral” rating on shares of Enbridge in a report on Friday, June 23rd. BidaskClub raised shares of Enbridge from a “strong sell” rating to a “sell” rating in a report on Saturday, June 24th. Zacks Investment Research cut shares of Enbridge from a “hold” rating to a “sell” rating in a report on Tuesday, July 11th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and issued a $44.00 target price (down from $45.00) on shares of Enbridge in a report on Friday, July 14th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company’s stock. The stock currently has an average 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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