Enbridge Inc (ENB) Stake Lowered by Sigma Planning Corp
Sigma Planning Corp reduced its position in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 13.6% during the second quarter, Holdings Channel reports. The firm owned 27,124 shares of the pipeline company’s stock after selling 4,281 shares during the period. Sigma Planning Corp’s holdings in Enbridge were worth $1,080,000 as of its most recent SEC filing.
Other large investors have also modified their holdings of the company. Caisse DE Depot ET Placement DU Quebec increased its stake in shares of Enbridge by 10.9% in the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 43,464,138 shares of the pipeline company’s stock worth $1,818,540,000 after buying an additional 4,256,369 shares during the period. TD Asset Management Inc. increased its stake in shares of Enbridge by 4.6% in the second quarter. TD Asset Management Inc. now owns 43,401,073 shares of the pipeline company’s stock worth $1,726,420,000 after buying an additional 1,909,405 shares during the period. Vanguard Group Inc. increased its stake in shares of Enbridge by 82.9% in the first quarter. Vanguard Group Inc. now owns 38,983,086 shares of the pipeline company’s stock worth $1,631,051,000 after buying an additional 17,671,076 shares during the period. FMR LLC increased its stake in shares of Enbridge by 30.6% in the first quarter. FMR LLC now owns 34,484,573 shares of the pipeline company’s stock worth $1,444,626,000 after buying an additional 8,072,511 shares during the period. Finally, Bank of America Corp DE increased its stake in shares of Enbridge by 1,072.3% in the first quarter. Bank of America Corp DE now owns 30,748,683 shares of the pipeline company’s stock worth $1,286,524,000 after buying an additional 28,125,698 shares during the period. Institutional investors own 63.83% of the company’s stock.
Enbridge Inc (NYSE:ENB) opened at 39.47 on Friday. The stock has a market cap of $64.96 billion, a P/E ratio of 31.96 and a beta of 0.62. 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 $40.66 and a 200 day moving average price of $40.98.
Enbridge (NYSE:ENB) (TSE:ENB) last announced its 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 business had revenue of $8.26 billion for the quarter, compared to analysts’ expectations 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 company posted $0.50 earnings per share. On average, analysts forecast that Enbridge Inc will post $1.57 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Tuesday, August 15th will be given a dividend of $0.489 per share. This represents a $1.96 annualized dividend and a dividend yield of 4.96%. This is a boost from Enbridge’s previous quarterly dividend of $0.33. The ex-dividend date is Friday, August 11th. Enbridge’s dividend payout ratio is currently 173.79%.
ENB has been the topic of a number of recent analyst reports. Morgan Stanley assumed coverage on Enbridge in a research report on Tuesday, May 2nd. They issued an “equal weight” rating and a $45.00 price objective on the stock. BidaskClub downgraded Enbridge from a “sell” rating to a “strong sell” rating in a research report on Friday. Zacks Investment Research downgraded Enbridge from a “hold” rating to a “strong sell” rating in a research report on Monday, April 24th. Wolfe Research assumed 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. Finally, J P Morgan Chase & Co restated a “neutral” rating on shares of Enbridge in a research report on Friday, June 23rd. Two 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. The stock presently has a consensus rating of “Hold” and an average target price 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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