Tiaa Fsb Takes Position in Enbridge Inc (ENB)
Tiaa Fsb bought a new position in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 52,343 shares of the pipeline company’s stock, valued at approximately $2,084,000.
Other hedge funds also recently made changes to their positions in the company. CGOV Asset Management boosted its stake in Enbridge by 49.1% during the first quarter. CGOV Asset Management now owns 1,093,641 shares of the pipeline company’s stock worth $60,927,000 after buying an additional 360,225 shares in the last quarter. United States Steel & Carnegie Pension Fund boosted its stake in Enbridge by 27.0% during the first quarter. United States Steel & Carnegie Pension Fund now owns 1,647,915 shares of the pipeline company’s stock worth $68,949,000 after buying an additional 350,450 shares in the last quarter. State Board of Administration of Florida Retirement System acquired a new stake in Enbridge during the first quarter worth $1,234,000. BNP Paribas Arbitrage SA acquired a new stake in Enbridge during the first quarter worth $390,000. Finally, LS Investment Advisors LLC boosted its stake in Enbridge by 1,456.7% during the first quarter. LS Investment Advisors LLC now owns 5,604 shares of the pipeline company’s stock worth $234,000 after buying an additional 5,244 shares in the last quarter. 61.58% of the stock is currently owned by institutional investors and hedge funds.
A number of equities research analysts have weighed in on ENB shares. BidaskClub upgraded shares of Enbridge from a “strong sell” rating to a “sell” rating in a research note on Friday, August 25th. Zacks Investment Research downgraded shares of Enbridge from a “hold” rating to a “sell” rating in a research note on Tuesday, July 11th. Morgan Stanley reiterated an “equal weight” rating and set a $44.00 price target (down previously from $45.00) on shares of Enbridge in a research note on Friday, July 14th. Finally, J P Morgan Chase & Co reiterated a “neutral” rating on shares of Enbridge in a research note on Friday, June 23rd. Two research analysts have rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the stock. Enbridge has a consensus rating of “Hold” and a consensus price target of $54.67.
Shares of Enbridge Inc (NYSE ENB) opened at 41.04 on Friday. The stock has a 50 day moving average of $40.46 and a 200 day moving average of $40.52. The firm has a market cap of $67.54 billion, a P/E ratio of 32.21 and a beta of 0.63. Enbridge Inc has a 52 week low of $37.37 and a 52 week 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 EPS 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 the consensus estimate of $8.81 billion. During the same quarter in the previous year, the business posted $0.50 EPS. Analysts anticipate that Enbridge Inc will post $1.66 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 1st. Investors of record on Tuesday, August 15th were given a $0.489 dividend. The ex-dividend date of this dividend was Friday, August 11th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 4.77%. This is a boost from Enbridge’s previous quarterly dividend of $0.33. Enbridge’s dividend payout ratio (DPR) is presently 190.29%.
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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