Sigma Planning Corp lessened its stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 5.4% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 63,338 shares of the pipeline company’s stock after selling 3,628 shares during the quarter. Sigma Planning Corp’s holdings in Enbridge were worth $2,536,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently made changes to their positions in ENB. Tranquilli Financial Advisor LLC raised its stake in shares of Enbridge by 2.3% during the first quarter. Tranquilli Financial Advisor LLC now owns 11,780 shares of the pipeline company’s stock valued at $429,000 after purchasing an additional 263 shares during the period. Walter & Keenan Financial Consulting Co. MI ADV grew its position in shares of Enbridge by 4.3% during the second quarter. Walter & Keenan Financial Consulting Co. MI ADV now owns 6,464 shares of the pipeline company’s stock worth $259,000 after buying an additional 264 shares in the last quarter. Maverick Capital Ltd. grew its position in shares of Enbridge by 1.2% during the first quarter. Maverick Capital Ltd. now owns 22,439 shares of the pipeline company’s stock worth $817,000 after buying an additional 273 shares in the last quarter. Jacobi Capital Management LLC grew its position in shares of Enbridge by 0.7% during the second quarter. Jacobi Capital Management LLC now owns 38,786 shares of the pipeline company’s stock worth $1,553,000 after buying an additional 275 shares in the last quarter. Finally, Holderness Investments Co. grew its position in shares of Enbridge by 1.1% during the second quarter. Holderness Investments Co. now owns 26,527 shares of the pipeline company’s stock worth $1,062,000 after buying an additional 278 shares in the last quarter. Institutional investors and hedge funds own 48.05% of the company’s stock.
A number of equities analysts have commented on the stock. Tudor Pickering reaffirmed a “buy” rating and issued a C$54.00 price objective on shares of Enbridge in a report on Thursday, September 30th. BMO Capital Markets lifted their price objective on shares of Enbridge from C$55.00 to C$57.00 and gave the stock an “outperform” rating in a report on Wednesday, September 8th. Barclays downgraded shares of Enbridge from an “overweight” rating to an “equal weight” rating and set a $50.00 price target for the company. in a report on Tuesday, July 20th. CIBC boosted their price target on shares of Enbridge from C$57.00 to C$58.00 and gave the company an “outperform” rating in a report on Wednesday, September 8th. Finally, Scotiabank boosted their price target on shares of Enbridge from C$54.00 to C$55.00 and gave the company an “outperform” rating in a report on Thursday, July 8th. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $52.46.
Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings results on Thursday, July 29th. The pipeline company reported $0.67 EPS for the quarter, topping the consensus estimate of $0.56 by $0.11. Enbridge had a net margin of 14.99% and a return on equity of 9.24%. The firm had revenue of $8.91 billion for the quarter, compared to analysts’ expectations of $9 billion. During the same period in the previous year, the business earned $0.56 earnings per share. On average, equities analysts predict that Enbridge Inc. will post 2.23 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, September 1st. Investors of record on Friday, August 13th were paid a $0.6645 dividend. The ex-dividend date was Thursday, August 12th. This represents a $2.66 dividend on an annualized basis and a yield of 6.31%. Enbridge’s dividend payout ratio is currently 147.51%.
Enbridge, Inc engages in the provision of gas and oil businesses. It operates through the following segments: Liquid Pipelines, Gas Distribution & Storage, Gas Transmission & Midstream, Renewable Power Generation, and Energy Services. The Liquids Pipelines segment consists of common carrier and contract crude oil, natural gas liquids and refined products pipelines and terminals in Canada and U.S., including Canadian Mainline, Regional Oil Sands System, Southern Lights Pipeline, Spearhead Pipeline, Seaway Crude Pipeline interest, and other feeder pipelines.
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