Segment Wealth Management LLC Raises Position in Enbridge Inc (ENB)
Segment Wealth Management LLC boosted its holdings in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 46.8% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 19,301 shares of the pipeline company’s stock after acquiring an additional 6,150 shares during the period. Segment Wealth Management LLC’s holdings in Enbridge were worth $580,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in Enbridge by 0.3% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 6,663 shares of the pipeline company’s stock valued at $265,000 after acquiring an additional 22 shares during the last quarter. Omnia Family Wealth LLC grew its stake in Enbridge by 0.4% in the 2nd quarter. Omnia Family Wealth LLC now owns 7,405 shares of the pipeline company’s stock valued at $295,000 after acquiring an additional 28 shares during the last quarter. HM Payson & Co. grew its stake in Enbridge by 0.8% in the 2nd quarter. HM Payson & Co. now owns 6,440 shares of the pipeline company’s stock valued at $256,000 after acquiring an additional 50 shares during the last quarter. FineMark National Bank & Trust grew its stake in Enbridge by 0.6% in the 2nd quarter. FineMark National Bank & Trust now owns 9,291 shares of the pipeline company’s stock valued at $370,000 after acquiring an additional 53 shares during the last quarter. Finally, Hudock Capital Group LLC grew its stake in Enbridge by 1.0% in the 2nd quarter. Hudock Capital Group LLC now owns 6,269 shares of the pipeline company’s stock valued at $249,000 after acquiring an additional 61 shares during the last quarter. 61.58% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities research analysts recently commented on the stock. J P Morgan Chase & Co reissued a “neutral” rating on shares of Enbridge in a research note on Friday, June 23rd. Morgan Stanley restated an “equal weight” rating and issued a $44.00 target price (down from $45.00) on shares of Enbridge in a report on Friday, July 14th. Zacks Investment Research lowered shares of Enbridge from a “hold” rating to a “sell” rating in a report on Tuesday, July 11th. Finally, BidaskClub upgraded shares of Enbridge from a “strong sell” rating to a “sell” rating in a report on Saturday, June 24th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $54.67.
Enbridge Inc (NYSE:ENB) traded up 0.34% on Thursday, reaching $41.45. 290,961 shares of the company’s stock were exchanged. The stock has a market capitalization of $68.22 billion, a P/E ratio of 33.48 and a beta of 0.63. The firm’s 50 day moving average is $40.46 and its 200 day moving average is $40.52. Enbridge Inc has a 1-year low of $37.37 and a 1-year high of $45.09.
Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings results on Thursday, August 3rd. The pipeline company reported $0.30 earnings per share for the quarter, missing the Zacks’ 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 analysts’ expectations of $8.81 billion. During the same period in the prior year, the business posted $0.50 EPS. Analysts expect that Enbridge Inc will post $1.68 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 1st. Shareholders of record on Tuesday, August 15th were paid a dividend of $0.489 per share. This represents a $1.96 annualized dividend and a yield of 4.73%. The ex-dividend date of this dividend was Friday, August 11th. This is a boost from Enbridge’s previous quarterly dividend of $0.33. Enbridge’s payout ratio is 190.29%.
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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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