Enbridge Inc (ENB) Shares Sold by Tdam USA Inc.
Tdam USA Inc. cut its position in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 10.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 20,794 shares of the pipeline company’s stock after selling 2,401 shares during the period. Tdam USA Inc.’s holdings in Enbridge were worth $830,000 at the end of the most recent quarter.
A number of other hedge funds have also modified their holdings of ENB. First Personal Financial Services acquired a new stake in shares of Enbridge during the first quarter worth about $102,000. Financial Architects Inc raised its stake in shares of Enbridge by 2,987.7% in the first quarter. Financial Architects Inc now owns 2,501 shares of the pipeline company’s stock worth $105,000 after buying an additional 2,420 shares during the last quarter. Monroe Bank & Trust MI acquired a new stake in shares of Enbridge during the first quarter worth about $105,000. Kistler Tiffany Companies LLC acquired a new stake in shares of Enbridge during the first quarter worth about $109,000. Finally, Mascoma Wealth Management LLC acquired a new stake in shares of Enbridge during the first quarter worth about $111,000. 63.83% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Enbridge Inc (NYSE ENB) opened at 40.83 on Wednesday. Enbridge Inc has a one year low of $37.37 and a one year high of $45.77. The stock has a market capitalization of $66.91 billion, a P/E ratio of 42.75 and a beta of 0.62. The company’s 50 day moving average price is $40.38 and its 200 day moving average price is $41.07.
Enbridge (NYSE:ENB) (TSE:ENB) last released 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. The company had revenue of $8.26 billion for the quarter, compared to the consensus estimate of $8.81 billion. Enbridge had a return on equity of 6.04% and a net margin of 5.28%. During the same quarter last year, the company posted $0.50 EPS. On average, equities analysts expect that Enbridge Inc will post $1.64 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Tuesday, August 15th will be paid a dividend of $0.489 per share. This represents a $1.96 annualized dividend and a dividend yield of 4.79%. The ex-dividend date of this dividend 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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A number of analysts have issued reports on the company. Morgan Stanley reissued an “equal weight” rating and issued a $44.00 price target (down from $45.00) on shares of Enbridge in a research note on Friday, July 14th. Wolfe Research began coverage on Enbridge in a research note on Friday, May 12th. They issued a “market perform” rating and a $43.00 price target on the stock. BidaskClub raised Enbridge from a “strong sell” rating to a “sell” rating in a research note on Saturday, June 24th. Zacks Investment Research lowered Enbridge from a “hold” rating to a “sell” rating in a research note on Tuesday, July 11th. Finally, J P Morgan Chase & Co reaffirmed a “neutral” rating on shares of Enbridge in a research note on Friday, June 23rd. Two investment analysts have rated the stock with a sell rating, six have issued 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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