Home Federal Bank of Tennessee increased its position in Enbridge Inc. (NYSE:ENB – Get Rating) (TSE:ENB) by 0.6% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 53,950 shares of the pipeline company’s stock after purchasing an additional 300 shares during the period. Enbridge accounts for about 0.9% of Home Federal Bank of Tennessee’s holdings, making the stock its 19th biggest holding. Home Federal Bank of Tennessee’s holdings in Enbridge were worth $2,280,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also made changes to their positions in ENB. AE Wealth Management LLC raised its stake in Enbridge by 8.8% during the 1st quarter. AE Wealth Management LLC now owns 97,325 shares of the pipeline company’s stock valued at $4,486,000 after acquiring an additional 7,871 shares during the last quarter. Van ECK Associates Corp raised its stake in Enbridge by 11.4% during the 1st quarter. Van ECK Associates Corp now owns 380,840 shares of the pipeline company’s stock valued at $17,537,000 after acquiring an additional 38,820 shares during the last quarter. Schnieders Capital Management LLC purchased a new stake in Enbridge during the 1st quarter valued at approximately $217,000. Tranquilli Financial Advisor LLC raised its stake in Enbridge by 4.7% during the 1st quarter. Tranquilli Financial Advisor LLC now owns 13,653 shares of the pipeline company’s stock valued at $629,000 after acquiring an additional 617 shares during the last quarter. Finally, Gateway Investment Advisers LLC purchased a new stake in Enbridge during the 1st quarter valued at approximately $2,648,000. 49.26% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several equities analysts have issued reports on the company. National Bank Financial boosted their target price on Enbridge from C$60.00 to C$61.00 in a research report on Tuesday, August 2nd. US Capital Advisors cut Enbridge from an “overweight” rating to a “hold” rating in a research report on Tuesday, July 26th. Raymond James upgraded Enbridge from a “market perform” rating to an “outperform” rating in a research report on Monday, September 12th. Finally, Industrial Alliance Securities upgraded Enbridge from a “hold” rating to a “buy” rating and set a C$60.00 target price on the stock in a research report on Wednesday, August 3rd. Five equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $59.75.
Enbridge Price Performance
Enbridge (NYSE:ENB – Get Rating) (TSE:ENB) last posted its earnings results on Friday, July 29th. The pipeline company reported $0.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.10. Enbridge had a return on equity of 10.46% and a net margin of 9.98%. During the same period last year, the company posted $0.55 EPS. On average, research analysts forecast that Enbridge Inc. will post 2.3 earnings per share for the current year.
Enbridge Cuts Dividend
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 1st. Shareholders of record on Monday, August 15th were paid a dividend of $0.668 per share. This represents a $2.67 dividend on an annualized basis and a dividend yield of 7.01%. The ex-dividend date was Friday, August 12th. Enbridge’s dividend payout ratio is presently 140.00%.
Enbridge Company Profile
Enbridge Inc operates as an energy infrastructure company. The company operates through five segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution and Storage, Renewable Power Generation, and Energy Services. The Liquids Pipelines segment operates pipelines and related terminals to transport various grades of crude oil and other liquid hydrocarbons in Canada and the United States.
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