Woodard & Co. Asset Management Group Inc. ADV bought a new position in Enbridge Inc (NYSE:ENB) (TSE:ENB) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 7,888 shares of the pipeline company’s stock, valued at approximately $282,000.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Accurate Investment Solutions Inc. acquired a new stake in shares of Enbridge in the second quarter worth $106,000. Welch Group LLC acquired a new stake in shares of Enbridge in the second quarter worth $109,000. Private Capital Group LLC lifted its stake in shares of Enbridge by 2,241.9% in the first quarter. Private Capital Group LLC now owns 3,630 shares of the pipeline company’s stock worth $114,000 after buying an additional 3,475 shares during the last quarter. Spectrum Management Group Inc. acquired a new position in Enbridge during the 2nd quarter valued at $119,000. Finally, Centersquare Investment Management LLC raised its stake in Enbridge by 93.0% during the 2nd quarter. Centersquare Investment Management LLC now owns 3,610 shares of the pipeline company’s stock valued at $129,000 after purchasing an additional 1,740 shares during the last quarter. Institutional investors and hedge funds own 59.05% of the company’s stock.
Several equities analysts recently commented on the stock. ValuEngine upgraded shares of Enbridge from a “strong sell” rating to a “sell” rating in a research note on Friday, June 29th. Morgan Stanley upped their target price on shares of Enbridge from $34.00 to $37.00 and gave the company an “equal weight” rating in a research note on Friday, July 13th. Bank of America upgraded shares of Enbridge from a “neutral” rating to a “buy” rating and increased their price objective for the company from $49.00 to $50.00 in a research note on Friday, August 17th. BMO Capital Markets dropped their price objective on shares of Enbridge from $61.00 to $59.00 and set an “outperform” rating for the company in a research note on Thursday, June 14th. Finally, CIBC lowered shares of Enbridge to a “buy” rating and set a $57.00 target price on the stock. in a report on Tuesday, May 22nd. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $51.40.
Enbridge (NYSE:ENB) (TSE:ENB) last issued its earnings results on Friday, August 3rd. The pipeline company reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.20. The company had revenue of $8.33 billion for the quarter, compared to analyst estimates of $9.86 billion. Enbridge had a net margin of 5.99% and a return on equity of 8.47%. equities analysts predict that Enbridge Inc will post 2.07 earnings per share for the current fiscal year.
The company also recently declared a dividend, which was paid on Saturday, September 1st. Investors of record on Wednesday, August 15th were given a $0.516 dividend. This is an increase from Enbridge’s previous dividend of $0.33. The ex-dividend date was Tuesday, August 14th. Enbridge’s dividend payout ratio (DPR) is currently 132.47%.
Enbridge Inc operates as an energy infrastructure company in Canada and the United States. The company operates in five segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution, Green Power and Transmission, and Energy Services. The Liquids Pipelines segment operates common carrier and contract crude oil, natural gas liquids (NGL), and refined products pipelines and terminals.
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