Schmidt P J Investment Management Inc. Purchases 4,689 Shares of Enbridge Inc (ENB)

Schmidt P J Investment Management Inc. boosted its stake in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 7.7% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 65,411 shares of the pipeline company’s stock after buying an additional 4,689 shares during the period. Schmidt P J Investment Management Inc.’s holdings in Enbridge were worth $2,604,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Caisse DE Depot ET Placement DU Quebec boosted its stake in Enbridge by 10.9% in the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 43,464,138 shares of the pipeline company’s stock valued at $1,818,540,000 after buying an additional 4,256,369 shares in the last quarter. TD Asset Management Inc. boosted its stake in Enbridge by 28.2% in the first quarter. TD Asset Management Inc. now owns 41,491,668 shares of the pipeline company’s stock valued at $1,733,219,000 after buying an additional 9,123,400 shares in the last quarter. Vanguard Group Inc. boosted its stake in Enbridge by 82.9% in the first quarter. Vanguard Group Inc. now owns 38,983,086 shares of the pipeline company’s stock valued at $1,631,051,000 after buying an additional 17,671,076 shares in the last quarter. Bank of Montreal Can boosted its stake in Enbridge by 72.4% in the first quarter. Bank of Montreal Can now owns 38,965,561 shares of the pipeline company’s stock valued at $1,630,318,000 after buying an additional 16,369,985 shares in the last quarter. Finally, FMR LLC boosted its stake in Enbridge by 30.6% in the first quarter. FMR LLC now owns 34,484,573 shares of the pipeline company’s stock valued at $1,444,626,000 after buying an additional 8,072,511 shares in the last quarter. 63.37% of the stock is owned by institutional investors and hedge funds.

Shares of Enbridge Inc (ENB) opened at 39.17 on Thursday. The firm has a market cap of $64.47 billion, a P/E ratio of 31.72 and a beta of 0.62. The firm’s 50-day moving average is $40.64 and its 200-day moving average is $40.86. Enbridge Inc has a 52-week low of $37.37 and a 52-week high of $45.77.

Enbridge (NYSE:ENB) (TSE:ENB) last announced 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. Enbridge had a net margin of 5.28% and a return on equity of 6.04%. The company had revenue of $8.26 billion during the quarter, compared to the consensus estimate of $8.81 billion. During the same quarter in the previous year, the firm posted $0.50 EPS. Analysts anticipate that Enbridge Inc will post $1.57 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Tuesday, August 15th will be paid a dividend of $0.489 per share. The ex-dividend date of this dividend is Friday, August 11th. This is a boost from Enbridge’s previous quarterly dividend of $0.33. This represents a $1.96 annualized dividend and a dividend yield of 4.99%. Enbridge’s payout ratio is 190.29%.

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A number of research firms have recently commented on ENB. Morgan Stanley began coverage on shares of Enbridge in a report on Tuesday, May 2nd. They issued an “equal weight” rating and a $45.00 target price for the company. BidaskClub cut shares of Enbridge from a “sell” rating to a “strong sell” rating in a report on Friday, August 11th. Zacks Investment Research cut shares of Enbridge from a “hold” rating to a “strong sell” rating in a report on Monday, April 24th. Wolfe Research began coverage on shares of Enbridge in a report on Friday, May 12th. They issued a “market perform” rating and a $43.00 target price for the company. Finally, J P Morgan Chase & Co reissued a “neutral” rating on shares of Enbridge in a report on Friday, June 23rd. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have given a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $54.00.

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.

Institutional Ownership by Quarter for Enbridge (NYSE:ENB)

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