Guinness Atkinson Asset Management Inc Acquires 7,000 Shares of Enbridge Inc (ENB)
Guinness Atkinson Asset Management Inc raised its holdings in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 24.9% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 35,100 shares of the pipeline company’s stock after acquiring an additional 7,000 shares during the quarter. Enbridge makes up about 0.7% of Guinness Atkinson Asset Management Inc’s portfolio, making the stock its 22nd largest holding. Guinness Atkinson Asset Management Inc’s holdings in Enbridge were worth $1,253,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Accurate Investment Solutions Inc. bought a new stake in shares of Enbridge in the 2nd quarter valued at $106,000. Welch Group LLC bought a new stake in shares of Enbridge in the 2nd quarter valued at $109,000. Private Capital Group LLC boosted its stake in shares of Enbridge by 2,241.9% in the 1st quarter. Private Capital Group LLC now owns 3,630 shares of the pipeline company’s stock valued at $114,000 after purchasing an additional 3,475 shares during the last quarter. Spectrum Management Group Inc. bought a new stake in shares of Enbridge in the 2nd quarter valued at $119,000. Finally, Centersquare Investment Management LLC boosted its stake in shares of Enbridge by 93.0% in the 2nd quarter. Centersquare Investment Management LLC now owns 3,610 shares of the pipeline company’s stock valued at $129,000 after purchasing an additional 1,740 shares during the last quarter. Hedge funds and other institutional investors own 59.05% of the company’s stock.
ENB has been the topic of a number of analyst reports. ValuEngine raised shares of Enbridge from a “sell” rating to a “hold” rating in a research note on Thursday, July 5th. Morgan Stanley upped their price objective on shares of Enbridge from $34.00 to $37.00 and gave the company an “equal weight” rating in a research note on Friday, July 13th. CIBC lowered shares of Enbridge to a “buy” rating and set a $57.00 price objective on the stock. in a research note on Tuesday, May 22nd. Bank of America raised shares of Enbridge from a “neutral” rating to a “buy” rating and upped their price objective for the company from $49.00 to $50.00 in a research note on Friday, August 17th. Finally, BMO Capital Markets reduced their price objective on shares of Enbridge from $61.00 to $59.00 and set an “outperform” rating on the stock in a research note on Thursday, June 14th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $51.40.
Enbridge (NYSE:ENB) (TSE:ENB) last issued its earnings results on Friday, August 3rd. The pipeline company reported $0.62 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.42 by $0.20. The business had revenue of $8.33 billion for the quarter, compared to analyst estimates of $9.86 billion. Enbridge had a net margin of 5.99% and a return on equity of 8.47%. equities research analysts predict that Enbridge Inc will post 2.07 earnings per share for the current fiscal year.
The business also recently announced a dividend, which was paid on Saturday, September 1st. Investors of record on Wednesday, August 15th were paid a dividend of $0.516 per share. The ex-dividend date of this dividend was Tuesday, August 14th. This is a positive change from Enbridge’s previous dividend of $0.33. Enbridge’s dividend payout ratio is currently 132.47%.
Enbridge Inc operates as an energy infrastructure company in Canada and the United States. The company operates in five segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution, Green Power and Transmission, and Energy Services. The Liquids Pipelines segment operates common carrier and contract crude oil, natural gas liquids (NGL), and refined products pipelines and terminals.
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