180 Wealth Advisors LLC bought a new stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 5,105 shares of the pipeline company’s stock, valued at approximately $203,000.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Tranquilli Financial Advisor LLC grew its position in shares of Enbridge by 2.3% in the first quarter. Tranquilli Financial Advisor LLC now owns 11,780 shares of the pipeline company’s stock valued at $429,000 after purchasing an additional 263 shares during the period. Walter & Keenan Financial Consulting Co. MI ADV grew its position in shares of Enbridge by 4.3% in the second quarter. Walter & Keenan Financial Consulting Co. MI ADV now owns 6,464 shares of the pipeline company’s stock valued at $259,000 after purchasing an additional 264 shares during the period. Maverick Capital Ltd. grew its position in shares of Enbridge by 1.2% in the first quarter. Maverick Capital Ltd. now owns 22,439 shares of the pipeline company’s stock valued at $817,000 after purchasing an additional 273 shares during the period. Jacobi Capital Management LLC grew its position in shares of Enbridge by 0.7% in the second quarter. Jacobi Capital Management LLC now owns 38,786 shares of the pipeline company’s stock valued at $1,553,000 after purchasing an additional 275 shares during the period. Finally, Holderness Investments Co. grew its position in shares of Enbridge by 1.1% in the second quarter. Holderness Investments Co. now owns 26,527 shares of the pipeline company’s stock valued at $1,062,000 after purchasing an additional 278 shares during the period. Institutional investors and hedge funds own 48.05% of the company’s stock.
Several equities analysts have recently weighed in on ENB shares. Barclays downgraded shares of Enbridge from an “overweight” rating to an “equal weight” rating and set a $50.00 price target on the stock. in a research note on Tuesday, July 20th. CIBC raised their price target on shares of Enbridge from C$57.00 to C$58.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 8th. Credit Suisse Group raised shares of Enbridge from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $52.00 to $55.00 in a research note on Thursday, June 17th. Tudor Pickering reissued a “buy” rating and issued a C$54.00 price target on shares of Enbridge in a research note on Thursday, September 30th. Finally, BMO Capital Markets raised their price target on shares of Enbridge from C$55.00 to C$57.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 8th. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $52.46.
Enbridge (NYSE:ENB) (TSE:ENB) last issued its earnings results on Thursday, July 29th. The pipeline company reported $0.67 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.11. Enbridge had a net margin of 14.99% and a return on equity of 9.24%. The company had revenue of $8.91 billion for the quarter, compared to the consensus estimate of $9 billion. During the same period in the previous year, the firm earned $0.56 earnings per share. Sell-side analysts forecast that Enbridge Inc. will post 2.23 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, September 1st. Shareholders of record on Friday, August 13th were given a dividend of $0.6645 per share. This represents a $2.66 dividend on an annualized basis and a dividend yield of 6.31%. The ex-dividend date of this dividend was Thursday, August 12th. Enbridge’s dividend payout ratio is presently 147.51%.
Enbridge Company Profile
Enbridge, Inc engages in the provision of gas and oil businesses. It operates through the following segments: Liquid Pipelines, Gas Distribution & Storage, Gas Transmission & Midstream, Renewable Power Generation, and Energy Services. The Liquids Pipelines segment consists of common carrier and contract crude oil, natural gas liquids and refined products pipelines and terminals in Canada and U.S., including Canadian Mainline, Regional Oil Sands System, Southern Lights Pipeline, Spearhead Pipeline, Seaway Crude Pipeline interest, and other feeder pipelines.
Featured Story: What is the S&P 500 Index?
Want to see what other hedge funds are holding ENB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Enbridge Inc. (NYSE:ENB) (TSE:ENB).
Receive News & Ratings for Enbridge Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Enbridge and related companies with MarketBeat.com's FREE daily email newsletter.