Guardian Capital Advisors LP Buys 5,803 Shares of Enbridge Inc (ENB)
Guardian Capital Advisors LP raised its stake in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 2.7% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 216,937 shares of the pipeline company’s stock after purchasing an additional 5,803 shares during the quarter. Enbridge accounts for 1.6% of Guardian Capital Advisors LP’s portfolio, making the stock its 15th biggest position. Guardian Capital Advisors LP’s holdings in Enbridge were worth $11,072,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently made changes to their positions in the business. Garner Asset Management Corp bought a new stake in Enbridge in the second quarter valued at approximately $794,000. Bank of Nova Scotia Trust Co. lifted its position in Enbridge by 4.0% in the second quarter. Bank of Nova Scotia Trust Co. now owns 1,075,592 shares of the pipeline company’s stock valued at $42,820,000 after purchasing an additional 41,241 shares during the last quarter. First Allied Advisory Services Inc. lifted its position in Enbridge by 5.4% in the second quarter. First Allied Advisory Services Inc. now owns 31,370 shares of the pipeline company’s stock valued at $1,251,000 after purchasing an additional 1,605 shares during the last quarter. QS Investors LLC lifted its position in Enbridge by 10.6% in the second quarter. QS Investors LLC now owns 13,097 shares of the pipeline company’s stock valued at $521,000 after purchasing an additional 1,254 shares during the last quarter. Finally, Aureus Asset Management LLC bought a new stake in Enbridge in the second quarter valued at approximately $262,000. Hedge funds and other institutional investors own 61.58% of the company’s stock.
Several analysts have weighed in on the company. J P Morgan Chase & Co reiterated a “neutral” rating on shares of Enbridge in a research report on Friday, June 23rd. 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 report on Friday, July 14th. Zacks Investment Research downgraded Enbridge from a “hold” rating to a “sell” rating in a research report on Tuesday, July 11th. Finally, BidaskClub upgraded Enbridge from a “strong sell” rating to a “sell” rating in a research report on Saturday, June 24th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $54.67.
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Enbridge Inc (ENB) traded up 0.75% during trading on Friday, hitting $41.84. The stock had a trading volume of 2,085,912 shares. The stock has a market cap of $68.86 billion, a price-to-earnings ratio of 32.84 and a beta of 0.63. The stock has a 50 day moving average price of $40.46 and a 200-day moving average price of $40.52. Enbridge Inc has a 12 month low of $37.37 and a 12 month high of $45.09.
Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings results on Thursday, August 3rd. The pipeline company reported $0.30 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.35 by ($0.05). Enbridge had a return on equity of 6.04% and a net margin of 5.28%. The business had revenue of $8.26 billion for the quarter, compared to the consensus estimate of $8.81 billion. During the same period in the prior year, the business posted $0.50 earnings per share. On average, equities analysts predict that Enbridge Inc will post $1.64 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 1st. Investors of record on Tuesday, August 15th were paid a dividend of $0.489 per share. 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 dividend yield of 4.67%. The ex-dividend date of this dividend was Friday, August 11th. Enbridge’s dividend payout ratio (DPR) is currently 191.26%.
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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