Enbridge Inc (ENB) Position Boosted by HighPoint Advisor Group LLC
HighPoint Advisor Group LLC increased its holdings in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 21.4% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,094 shares of the pipeline company’s stock after buying an additional 1,427 shares during the quarter. HighPoint Advisor Group LLC’s holdings in Enbridge were worth $282,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of ENB. Toronto Dominion Bank grew its holdings in Enbridge by 123.0% in the 2nd quarter. Toronto Dominion Bank now owns 9,644,840 shares of the pipeline company’s stock worth $347,031,000 after buying an additional 5,319,398 shares in the last quarter. Fiera Capital Corp grew its holdings in Enbridge by 165.9% in the 2nd quarter. Fiera Capital Corp now owns 5,405,278 shares of the pipeline company’s stock worth $193,266,000 after buying an additional 3,372,119 shares in the last quarter. Addenda Capital Inc. bought a new position in Enbridge in the 2nd quarter worth approximately $100,454,000. Tortoise Capital Advisors L.L.C. grew its holdings in Enbridge by 23.6% in the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 6,757,583 shares of the pipeline company’s stock worth $241,178,000 after buying an additional 1,291,797 shares in the last quarter. Finally, OppenheimerFunds Inc. grew its holdings in Enbridge by 98.2% in the 1st quarter. OppenheimerFunds Inc. now owns 2,023,455 shares of the pipeline company’s stock worth $63,678,000 after buying an additional 1,002,723 shares in the last quarter. 58.53% of the stock is owned by institutional investors and hedge funds.
A number of brokerages recently issued reports on ENB. ValuEngine lowered Enbridge from a “hold” rating to a “sell” rating in a report on Thursday, August 2nd. CIBC lowered Enbridge to a “buy” rating and set a $57.00 price objective for the company. in a report on Tuesday, May 22nd. BMO Capital Markets decreased their price objective on Enbridge from $61.00 to $59.00 and set an “outperform” rating for the company in a report on Thursday, June 14th. Bank of America raised Enbridge from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $49.00 to $50.00 in a report on Friday, August 17th. Finally, Morgan Stanley increased their price objective on Enbridge from $34.00 to $37.00 and gave the stock an “equal weight” rating in a report on Friday, July 13th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the stock. Enbridge has an average rating of “Hold” and an average target price of $51.40.
Enbridge (NYSE:ENB) (TSE:ENB) last released its earnings results on Friday, August 3rd. The pipeline company reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.42 by $0.20. The firm had revenue of $8.33 billion during the quarter, compared to the consensus estimate of $9.86 billion. Enbridge had a return on equity of 8.47% and a net margin of 5.99%. analysts predict that Enbridge Inc will post 2.07 EPS for the current fiscal year.
The company also recently announced a dividend, which was paid on Saturday, September 1st. Shareholders of record on Wednesday, August 15th were given a $0.516 dividend. This is an increase from Enbridge’s previous dividend of $0.33. The ex-dividend date of this dividend was Tuesday, August 14th. Enbridge’s dividend payout ratio is 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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