Enbridge Inc (ENB) Position Reduced by Catalyst Capital Advisors LLC
Catalyst Capital Advisors LLC reduced its position in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 2.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 122,246 shares of the pipeline company’s stock after selling 2,915 shares during the period. Catalyst Capital Advisors LLC’s holdings in Enbridge were worth $4,867,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. First Personal Financial Services purchased a new position in Enbridge during the first quarter worth $102,000. Financial Architects Inc boosted its position 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 last quarter. Monroe Bank & Trust MI purchased a new position in Enbridge during the first quarter worth $105,000. Kistler Tiffany Companies LLC purchased a new position in Enbridge during the first quarter worth $109,000. Finally, NEXT Financial Group Inc boosted its position in Enbridge by 17.7% in the second quarter. NEXT Financial Group Inc now owns 2,731 shares of the pipeline company’s stock worth $109,000 after buying an additional 411 shares during the last quarter. 63.83% of the stock is owned by institutional investors.
Shares of Enbridge Inc (NYSE ENB) opened at 39.47 on Friday. Enbridge Inc has a 1-year low of $37.37 and a 1-year high of $45.77. The stock has a market cap of $64.96 billion, a PE ratio of 31.96 and a beta of 0.62. The stock’s 50 day moving average is $40.66 and its 200-day moving average is $40.98.
Enbridge (NYSE:ENB) (TSE:ENB) last posted its earnings results on Thursday, August 3rd. The pipeline company reported $0.30 earnings per share for the quarter, missing the Thomson Reuters’ 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 business had revenue of $8.26 billion for the quarter, compared to analysts’ expectations of $8.81 billion. During the same quarter last year, the business posted $0.50 earnings per share. On average, analysts predict that Enbridge Inc will post $1.57 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Tuesday, August 15th will be issued a dividend of $0.489 per share. The ex-dividend date of this dividend is Friday, August 11th. This is an increase from Enbridge’s previous quarterly dividend of $0.33. This represents a $1.96 dividend on an annualized basis and a dividend yield of 4.96%. Enbridge’s payout ratio is 173.79%.
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A number of research firms have weighed in on ENB. J P Morgan Chase & Co reaffirmed a “neutral” rating on shares of Enbridge in a report on Friday, June 23rd. Wolfe Research began coverage on shares of Enbridge in a report on Friday, May 12th. They issued a “market perform” rating and a $43.00 price objective for the company. Morgan Stanley reaffirmed an “equal weight” rating and issued a $44.00 price objective (down previously from $45.00) on shares of Enbridge in a report on Friday, July 14th. Zacks Investment Research cut shares of Enbridge from a “hold” rating to a “sell” rating in a report on Tuesday, July 11th. Finally, BidaskClub raised shares of Enbridge from a “strong sell” rating to a “sell” rating in a report on Saturday, June 24th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have issued a buy rating to the company’s stock. Enbridge presently has an average 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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