Enbridge Inc (ENB) Shares Bought by Tetrem Capital Management Ltd.
Tetrem Capital Management Ltd. boosted its position in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 14.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,879,807 shares of the pipeline company’s stock after purchasing an additional 236,754 shares during the period. Enbridge makes up approximately 4.2% of Tetrem Capital Management Ltd.’s investment portfolio, making the stock its 4th biggest holding. Tetrem Capital Management Ltd. owned approximately 0.11% of Enbridge worth $97,028,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in Enbridge by 0.3% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 6,663 shares of the pipeline company’s stock worth $265,000 after purchasing an additional 22 shares during the last quarter. Omnia Family Wealth LLC lifted its stake in Enbridge by 0.4% in the second quarter. Omnia Family Wealth LLC now owns 7,405 shares of the pipeline company’s stock worth $295,000 after purchasing an additional 28 shares during the last quarter. HM Payson & Co. lifted its stake in Enbridge by 0.8% in the second quarter. HM Payson & Co. now owns 6,440 shares of the pipeline company’s stock worth $256,000 after purchasing an additional 50 shares during the last quarter. FineMark National Bank & Trust lifted its stake in Enbridge by 0.6% in the second quarter. FineMark National Bank & Trust now owns 9,291 shares of the pipeline company’s stock worth $370,000 after purchasing an additional 53 shares during the last quarter. Finally, Hudock Capital Group LLC lifted its stake in Enbridge by 1.0% in the second quarter. Hudock Capital Group LLC now owns 6,269 shares of the pipeline company’s stock worth $249,000 after purchasing an additional 61 shares during the last quarter. 61.58% of the stock is owned by institutional investors and hedge funds.
Shares of Enbridge Inc (ENB) traded up 0.54% during trading on Tuesday, hitting $41.18. 331,384 shares of the stock were exchanged. The company has a market cap of $67.77 billion, a price-to-earnings ratio of 33.26 and a beta of 0.63. Enbridge Inc has a one year low of $37.37 and a one year high of $45.09. The stock’s 50 day moving average price is $40.47 and its 200-day moving average price is $40.52.
Enbridge (NYSE:ENB) (TSE:ENB) last issued 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 return on equity of 6.04% and a net margin of 5.28%. The company had revenue of $8.26 billion during the quarter, compared to analyst estimates of $8.81 billion. During the same quarter in the prior year, the company posted $0.50 earnings per share. On average, analysts predict that Enbridge Inc will post $1.68 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Tuesday, August 15th were issued a $0.489 dividend. This is a positive change from Enbridge’s previous quarterly dividend of $0.33. This represents a $1.96 annualized dividend and a dividend yield of 4.78%. The ex-dividend date was Friday, August 11th. Enbridge’s dividend payout ratio is currently 190.29%.
Several analysts have issued reports on ENB shares. Morgan Stanley reissued an “equal weight” rating and issued a $44.00 price objective (down previously from $45.00) on shares of Enbridge in a research note on Friday, July 14th. J P Morgan Chase & Co reaffirmed a “neutral” rating on shares of Enbridge in a research report on Friday, June 23rd. Zacks Investment Research lowered shares of Enbridge from a “hold” rating to a “sell” rating in a research report on Tuesday, July 11th. Finally, BidaskClub raised shares of Enbridge from a “strong sell” rating to a “sell” rating in a research report on Saturday, June 24th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $54.67.
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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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