Rathbone Brothers plc held its stake in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor 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 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also modified their holdings 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 worth $1,818,540,000 after purchasing an additional 4,256,369 shares in the last quarter. TD Asset Management Inc. lifted its stake in shares of Enbridge by 4.6% during the second quarter. TD Asset Management Inc. now owns 43,401,073 shares of the pipeline company’s stock valued at $1,726,420,000 after acquiring an additional 1,909,405 shares during the period. Vanguard Group Inc. lifted its stake in shares of Enbridge by 82.9% during 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 acquiring an additional 17,671,076 shares during the period. FMR LLC lifted its stake in shares of Enbridge by 30.6% during the first quarter. FMR LLC now owns 34,484,573 shares of the pipeline company’s stock valued at $1,444,626,000 after acquiring an additional 8,072,511 shares during the period. Finally, Bank of America Corp DE lifted its stake in shares of Enbridge by 1,072.3% during the first quarter. Bank of America Corp DE now owns 30,748,683 shares of the pipeline company’s stock valued at $1,286,524,000 after acquiring an additional 28,125,698 shares during the period. 61.61% of the stock is currently owned by institutional investors.
Several equities analysts have weighed in on ENB shares. Zacks Investment Research lowered Enbridge from a “hold” rating to a “sell” rating in a research note on Tuesday, July 11th. J P Morgan Chase & Co reissued a “neutral” rating on shares of Enbridge in a research note on Friday, June 23rd. BidaskClub upgraded Enbridge from a “strong sell” rating to a “sell” rating in a report on Saturday, June 24th. Finally, Morgan Stanley reiterated an “equal weight” rating and set a $44.00 price objective (down from $45.00) on shares of Enbridge in a report on Friday, July 14th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the stock. Enbridge currently has an average rating of “Hold” and an average price target of $54.67.
Shares of Enbridge Inc (NYSE:ENB) opened at 41.13 on Friday. The stock has a 50 day moving average price of $40.47 and a 200-day moving average price of $40.54. Enbridge Inc has a 52-week low of $37.37 and a 52-week high of $45.09. The firm has a market capitalization of $67.69 billion, a PE ratio of 33.22 and a beta of 0.63.
Enbridge (NYSE:ENB) (TSE:ENB) last posted its earnings results on Thursday, August 3rd. The pipeline company reported $0.30 EPS 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 during the quarter, compared to the consensus estimate of $8.81 billion. During the same period last year, the firm posted $0.50 EPS. Equities analysts forecast that Enbridge Inc will post $1.69 EPS for the current year.
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 $0.489 dividend. This represents a $1.96 dividend on an annualized basis and a yield of 4.76%. The ex-dividend date was Friday, August 11th. This is an increase from Enbridge’s previous quarterly dividend of $0.33. Enbridge’s payout ratio is 190.29%.
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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