Marathon Capital Management increased its stake in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 3.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,461 shares of the pipeline company’s stock after purchasing an additional 258 shares during the quarter. Marathon Capital Management’s holdings in Enbridge were worth $337,000 at the end of the most recent quarter.
Other hedge funds also recently bought and sold shares of the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in Enbridge by 0.3% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 6,663 shares of the pipeline company’s stock valued at $265,000 after acquiring an additional 22 shares during the last quarter. HM Payson & Co. lifted its stake in Enbridge by 0.8% during the second quarter. HM Payson & Co. now owns 6,440 shares of the pipeline company’s stock valued at $256,000 after buying an additional 50 shares in the last quarter. FineMark National Bank & Trust lifted its stake in Enbridge by 0.6% during the second quarter. FineMark National Bank & Trust now owns 9,291 shares of the pipeline company’s stock valued at $370,000 after buying an additional 53 shares in the last quarter. Hudock Capital Group LLC lifted its stake in Enbridge by 1.0% during the second quarter. Hudock Capital Group LLC now owns 6,269 shares of the pipeline company’s stock valued at $249,000 after buying an additional 61 shares in the last quarter. Finally, Livingston Group Asset Management CO operating as Southport Capital Management lifted its stake in Enbridge by 0.3% during the second quarter. Livingston Group Asset Management CO operating as Southport Capital Management now owns 18,722 shares of the pipeline company’s stock valued at $745,000 after buying an additional 64 shares in the last quarter. 61.61% of the stock is owned by institutional investors and hedge funds.
A number of equities analysts have recently weighed in on the company. BidaskClub downgraded Enbridge from a “sell” rating to a “strong sell” rating in a report on Friday, August 11th. Morgan Stanley reiterated an “equal weight” rating and issued a $44.00 target price (down previously from $45.00) on shares of Enbridge in a report on Friday, July 14th. J P Morgan Chase & Co reiterated a “neutral” rating on shares of Enbridge in a report on Friday, June 23rd. Finally, Zacks Investment Research downgraded Enbridge from a “hold” rating to a “sell” rating in a report on Tuesday, July 11th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $54.67.
Enbridge Inc (NYSE:ENB) traded down 0.46% during midday trading on Friday, hitting $40.95. The stock had a trading volume of 522,738 shares. The firm has a 50-day moving average price of $40.47 and a 200-day moving average price of $40.54. The firm has a market capitalization of $67.40 billion, a price-to-earnings ratio of 33.08 and a beta of 0.63. Enbridge Inc has a 1-year low of $37.37 and a 1-year high of $45.09.
Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings results on Thursday, August 3rd. The pipeline company reported $0.30 earnings per share (EPS) for the quarter, missing the 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 firm 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 company posted $0.50 EPS. On average, equities research analysts anticipate that Enbridge Inc will post $1.69 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Tuesday, August 15th were issued a $0.489 dividend. This represents a $1.96 dividend on an annualized basis and a dividend yield of 4.75%. The ex-dividend date of this dividend was Friday, August 11th. This is a positive change from Enbridge’s previous quarterly dividend of $0.33. Enbridge’s dividend payout ratio (DPR) is currently 190.29%.
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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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