Enbridge Inc (ENB) Shares Bought by Goelzer Investment Management Inc.
Goelzer Investment Management Inc. raised its stake in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 48.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 163,095 shares of the pipeline company’s stock after buying an additional 53,105 shares during the period. Goelzer Investment Management Inc.’s holdings in Enbridge were worth $6,493,000 at the end of the most recent reporting period.
A number of other large investors have also bought and sold shares of the stock. Dimensional Fund Advisors LP raised its stake in Enbridge by 3.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 195,023 shares of the pipeline company’s stock valued at $8,214,000 after buying an additional 7,196 shares in the last quarter. Chevy Chase Trust Holdings Inc. acquired a new stake in Enbridge during the first quarter valued at about $325,000. Raymond James Trust N.A. acquired a new stake in Enbridge during the first quarter valued at about $1,457,000. Charter Trust Co. acquired a new stake in Enbridge during the first quarter valued at about $363,000. Finally, Creative Planning raised its stake in Enbridge by 511.6% in the first quarter. Creative Planning now owns 79,044 shares of the pipeline company’s stock valued at $3,307,000 after buying an additional 66,119 shares in the last quarter. 63.83% of the stock is owned by institutional investors.
Enbridge Inc (NYSE:ENB) opened at 41.53 on Monday. Enbridge Inc has a 12-month low of $37.37 and a 12-month high of $45.77. The stock has a 50 day moving average price of $40.07 and a 200 day moving average price of $41.05. The stock has a market cap of $68.06 billion, a P/E ratio of 43.49 and a beta of 0.62.
Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings data on Thursday, August 3rd. The pipeline company reported $0.30 EPS for the quarter, missing the 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 for the quarter, compared to the consensus estimate of $8.81 billion. During the same period last year, the company earned $0.50 EPS. On average, analysts forecast that Enbridge Inc will post $1.78 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Tuesday, August 15th will be issued a dividend of $0.489 per share. This represents a $1.96 annualized dividend and a dividend yield of 4.71%. The ex-dividend date is Friday, August 11th. This is an increase from Enbridge’s previous quarterly dividend of $0.33. Enbridge’s dividend payout ratio is 173.79%.
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Several equities research analysts recently issued reports on ENB shares. Zacks Investment Research lowered Enbridge from a “hold” rating to a “strong sell” rating in a research note on Monday, April 24th. Morgan Stanley began coverage on Enbridge in a research report on Tuesday, May 2nd. They set an “equal weight” rating and a $45.00 price target on the stock. Wolfe Research began coverage on Enbridge in a research report on Friday, May 12th. They set a “market perform” rating and a $43.00 price target on the stock. J P Morgan Chase & Co restated a “neutral” rating on shares of Enbridge in a research report on Friday, June 23rd. Finally, BidaskClub upgraded 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, six have assigned a hold rating and eight have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus 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.
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