Laurel Wealth Advisors Inc. boosted its holdings in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 3.6% in the second quarter, HoldingsChannel.com reports. The firm owned 45,599 shares of the pipeline company’s stock after buying an additional 1,600 shares during the quarter. Laurel Wealth Advisors Inc.’s holdings in Enbridge were worth $1,645,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also made changes to their positions in the company. Manchester Financial Inc. purchased a new position in shares of Enbridge in the second quarter valued at $25,000. Westside Investment Management Inc. bought a new position in shares of Enbridge in the 2nd quarter worth $25,000. SRS Capital Advisors Inc. bought a new position in shares of Enbridge in the 2nd quarter worth $35,000. Hanson McClain Inc. boosted its position in shares of Enbridge by 41.9% in the 1st quarter. Hanson McClain Inc. now owns 1,005 shares of the pipeline company’s stock worth $36,000 after purchasing an additional 297 shares during the last quarter. Finally, Cascade Investment Advisors Inc. bought a new position in shares of Enbridge in the 2nd quarter worth $36,000. 53.86% of the stock is owned by hedge funds and other institutional investors.
Several research analysts have recently issued reports on the company. Bank of America lowered Enbridge from a “buy” rating to a “neutral” rating and set a $49.00 price target on the stock. in a research report on Tuesday, July 2nd. ValuEngine lowered Enbridge from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Wolfe Research lowered Enbridge from an “outperform” rating to a “peer perform” rating and set a $37.00 price target on the stock. in a research report on Thursday, June 13th. Finally, Goldman Sachs Group assumed coverage on Enbridge in a research report on Thursday, July 18th. They issued a “neutral” rating on the stock. One analyst has rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $43.75.
Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings data on Friday, August 2nd. The pipeline company reported $0.50 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.42 by $0.08. The business had revenue of $9.92 billion for the quarter. Enbridge had a return on equity of 8.16% and a net margin of 9.97%. Research analysts expect that Enbridge Inc will post 1.9 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Thursday, August 15th were paid a dividend of $0.559 per share. This represents a $2.24 annualized dividend and a yield of 6.41%. The ex-dividend date was Wednesday, August 14th. This is an increase from Enbridge’s previous quarterly dividend of $0.52. Enbridge’s dividend payout ratio (DPR) is presently 107.80%.
Enbridge Company Profile
Enbridge Inc operates as an energy infrastructure company in Canada and the United States. The company operates through 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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