United Fire Group Inc. Maintains Position in Enbridge Inc (NYSE:ENB)
United Fire Group Inc. held its stake in Enbridge Inc (NYSE:ENB) (TSE:ENB) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 92,590 shares of the pipeline company’s stock at the end of the second quarter. Enbridge makes up 1.3% of United Fire Group Inc.’s holdings, making the stock its 21st largest position. United Fire Group Inc.’s holdings in Enbridge were worth $3,686,000 as of its most recent SEC filing.
Several other large investors have also bought and sold shares of ENB. First Personal Financial Services acquired a new stake in Enbridge during the first quarter worth $102,000. Financial Architects Inc increased its stake in 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 period. Monroe Bank & Trust MI acquired a new stake in Enbridge during the first quarter worth $105,000. Kistler Tiffany Companies LLC acquired a new stake in Enbridge during the first quarter worth $109,000. Finally, NEXT Financial Group Inc increased its stake in shares of Enbridge by 17.7% in the second quarter. NEXT Financial Group Inc now owns 2,731 shares of the pipeline company’s stock valued at $109,000 after buying an additional 411 shares during the last quarter. 63.83% of the stock is owned by institutional investors and hedge funds.
Enbridge Inc (ENB) opened at 39.90 on Friday. The stock has a 50 day moving average of $40.65 and a 200 day moving average of $41.00. Enbridge Inc has a 12-month low of $37.37 and a 12-month high of $45.77. The firm has a market cap of $65.67 billion, a PE ratio of 32.31 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 earnings per share for the quarter, missing the consensus estimate of $0.35 by $0.05. The company had revenue of $8.26 billion during the quarter, compared to the consensus estimate of $8.81 billion. Enbridge had a net margin of 5.28% and a return on equity of 6.04%. During the same quarter in the prior year, the firm earned $0.50 EPS. On average, equities research analysts anticipate that Enbridge Inc will post $1.57 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Tuesday, August 15th will be paid a $0.489 dividend. The ex-dividend date is Friday, August 11th. This represents a $1.96 annualized dividend and a dividend yield of 4.90%. This is a positive change from Enbridge’s previous quarterly dividend of $0.33. Enbridge’s payout ratio is currently 173.79%.
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Several equities research analysts have commented on ENB shares. Wolfe Research started coverage on shares of Enbridge in a research note on Friday, May 12th. They issued a “market perform” rating and a $43.00 target price for the company. Zacks Investment Research downgraded shares of Enbridge from a “hold” rating to a “sell” rating in a research note on Tuesday, July 11th. J P Morgan Chase & Co reaffirmed a “neutral” rating on shares of Enbridge in a research note on Friday, June 23rd. Morgan Stanley started coverage on shares of Enbridge in a research note on Tuesday, May 2nd. They issued an “equal weight” rating and a $45.00 target price for the company. Finally, BidaskClub raised shares of Enbridge from a “strong sell” rating to a “sell” rating in a research note on Saturday, June 24th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and eight have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $54.00.
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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