Norway Savings Bank raised its stake in Enbridge Inc. (NYSE:ENB – Free Report) (TSE:ENB) by 9.7% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 13,884 shares of the pipeline company’s stock after acquiring an additional 1,230 shares during the period. Norway Savings Bank’s holdings in Enbridge were worth $516,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Csenge Advisory Group grew its stake in shares of Enbridge by 8.2% in the 1st quarter. Csenge Advisory Group now owns 8,561 shares of the pipeline company’s stock worth $326,000 after buying an additional 652 shares in the last quarter. Brookfield Corp ON grew its stake in shares of Enbridge by 13.4% in the 1st quarter. Brookfield Corp ON now owns 1,835,962 shares of the pipeline company’s stock worth $70,042,000 after buying an additional 216,728 shares in the last quarter. Avidian Wealth Solutions LLC grew its stake in shares of Enbridge by 48.2% in the 1st quarter. Avidian Wealth Solutions LLC now owns 11,056 shares of the pipeline company’s stock worth $422,000 after buying an additional 3,598 shares in the last quarter. Kovack Advisors Inc. boosted its stake in shares of Enbridge by 7.0% during the 1st quarter. Kovack Advisors Inc. now owns 24,974 shares of the pipeline company’s stock worth $953,000 after purchasing an additional 1,634 shares during the period. Finally, CWM LLC boosted its stake in shares of Enbridge by 32.8% during the 1st quarter. CWM LLC now owns 41,067 shares of the pipeline company’s stock worth $1,567,000 after purchasing an additional 10,138 shares during the period. 48.29% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
ENB has been the subject of a number of recent analyst reports. StockNews.com initiated coverage on shares of Enbridge in a research note on Thursday, August 17th. They set a “hold” rating for the company. National Bank Financial initiated coverage on shares of Enbridge in a research note on Monday, September 11th. They set a “sector perform” rating for the company. Wells Fargo & Company cut shares of Enbridge from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, September 6th. TD Securities lowered their price objective on shares of Enbridge from $62.00 to $58.00 and set a “buy” rating for the company in a research report on Tuesday, August 8th. Finally, CIBC boosted their price objective on shares of Enbridge from $63.00 to $64.00 and gave the company an “outperformer” rating in a research report on Monday, September 11th. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $58.57.
Enbridge Stock Down 0.7 %
Shares of NYSE:ENB traded down $0.23 during trading hours on Friday, hitting $35.09. The company’s stock had a trading volume of 7,581,064 shares, compared to its average volume of 4,062,080. Enbridge Inc. has a 52 week low of $32.90 and a 52 week high of $42.12. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.64 and a quick ratio of 0.55. The company has a market capitalization of $74.59 billion, a price-to-earnings ratio of 25.06, a P/E/G ratio of 2.71 and a beta of 0.85. The firm’s fifty day moving average price is $35.65 and its 200 day moving average price is $37.12.
Enbridge (NYSE:ENB – Get Free Report) (TSE:ENB) last posted its quarterly earnings data on Friday, August 4th. The pipeline company reported $0.51 EPS for the quarter, hitting the consensus estimate of $0.51. The firm had revenue of $7.77 billion during the quarter, compared to analyst estimates of $7.49 billion. Enbridge had a net margin of 8.58% and a return on equity of 10.20%. As a group, research analysts expect that Enbridge Inc. will post 2.11 EPS for the current year.
Enbridge Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, September 1st. Shareholders of record on Tuesday, August 15th were given a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a yield of 7.64%. The ex-dividend date of this dividend was Monday, August 14th. This is an increase from Enbridge’s previous quarterly dividend of $0.66. Enbridge’s payout ratio is currently 187.86%.
Enbridge Inc, together with its subsidiaries, operates as an energy infrastructure company. The company operates through five segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution and Storage, Renewable Power Generation, and Energy Services. The Liquids Pipelines segment operates pipelines and related terminals to transport various grades of crude oil and other liquid hydrocarbons in Canada and the United States.
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