Rathbone Brothers plc continued to hold its position in Enbridge Inc (NYSE:ENB) (TSE:ENB) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 12,050 shares of the pipeline company’s stock at the end of the second quarter. Rathbone Brothers plc’s holdings in Enbridge were worth $479,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Sheaff Brock Investment Advisors LLC lifted its stake in shares of Enbridge by 5.8% in the 2nd quarter. Sheaff Brock Investment Advisors LLC now owns 12,677 shares of the pipeline company’s stock valued at $505,000 after purchasing an additional 700 shares during the period. Argent Trust Co lifted its stake in shares of Enbridge by 1.3% in the 2nd quarter. Argent Trust Co now owns 14,089 shares of the pipeline company’s stock valued at $561,000 after purchasing an additional 177 shares during the period. D L Carlson Investment Group Inc. lifted its stake in shares of Enbridge by 16.3% in the 2nd quarter. D L Carlson Investment Group Inc. now owns 61,451 shares of the pipeline company’s stock valued at $2,446,000 after purchasing an additional 8,597 shares during the period. Intercontinental Wealth Advisors LLC purchased a new position in shares of Enbridge in the 2nd quarter valued at approximately $2,812,000. Finally, Synovus Financial Corp lifted its stake in shares of Enbridge by 3.1% in the 2nd quarter. Synovus Financial Corp now owns 218,487 shares of the pipeline company’s stock valued at $8,718,000 after purchasing an additional 6,649 shares during the period. Institutional investors own 61.58% of the company’s stock.
A number of research analysts recently weighed in on the company. J P Morgan Chase & Co reaffirmed a “neutral” rating on shares of Enbridge in a research report on Friday, June 23rd. Morgan Stanley reaffirmed an “equal weight” rating and set a $44.00 price objective (down previously from $45.00) on shares of Enbridge in a research report on Friday, July 14th. Zacks Investment Research lowered Enbridge from a “hold” rating to a “sell” rating in a research report on Tuesday, July 11th. Finally, BidaskClub raised Enbridge from a “strong sell” rating to a “sell” rating in a research report on Saturday, June 24th. Two equities 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 company’s stock. The stock has an average rating of “Hold” and an average target price of $54.67.
Shares of Enbridge Inc (NYSE:ENB) opened at 41.04 on Friday. The firm has a 50 day moving average price of $40.46 and a 200-day moving average price of $40.52. The company has a market cap of $67.54 billion, a price-to-earnings ratio of 32.21 and a beta of 0.63. Enbridge Inc has a 12-month low of $37.37 and a 12-month high of $45.09.
Enbridge (NYSE:ENB) (TSE:ENB) last posted its earnings results on Thursday, August 3rd. The pipeline company reported $0.30 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.05). Enbridge had a return on equity of 6.04% and a net margin of 5.28%. The company had revenue of $8.26 billion for the quarter, compared to analysts’ expectations of $8.81 billion. During the same quarter in the prior year, the company earned $0.50 EPS. On average, equities analysts expect that Enbridge Inc will post $1.66 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Tuesday, August 15th were issued a dividend of $0.489 per share. This represents a $1.96 annualized dividend and a dividend yield of 4.77%. The ex-dividend date was Friday, August 11th. This is a positive change from Enbridge’s previous quarterly dividend of $0.33. Enbridge’s dividend payout ratio is currently 190.29%.
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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.
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