Home Federal Bank of Tennessee lifted its position in Enbridge Inc. (NYSE:ENB – Get Rating) (TSE:ENB) by 0.6% during the 2nd quarter, according to its most recent disclosure 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 comprises approximately 0.9% of Home Federal Bank of Tennessee’s portfolio, 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 recently made changes to their positions in the company. Financial Management Professionals Inc. lifted its position in Enbridge by 605.2% during the first quarter. Financial Management Professionals Inc. now owns 543 shares of the pipeline company’s stock valued at $25,000 after buying an additional 466 shares during the period. First Command Bank lifted its position in Enbridge by 96.4% during the first quarter. First Command Bank now owns 601 shares of the pipeline company’s stock valued at $28,000 after buying an additional 295 shares during the period. Tcwp LLC purchased a new position in Enbridge during the first quarter valued at $37,000. Rise Advisors LLC purchased a new position in Enbridge during the fourth quarter valued at $32,000. Finally, TFO TDC LLC purchased a new position in Enbridge during the first quarter valued at $39,000. Institutional investors own 49.26% of the company’s stock.
Analyst Upgrades and Downgrades
ENB has been the subject of several recent research reports. Industrial Alliance Securities raised Enbridge from a “hold” rating to a “buy” rating and set a C$60.00 price objective for the company in a research report on Wednesday, August 3rd. Raymond James upgraded Enbridge from a “market perform” rating to an “outperform” rating in a report on Monday, September 12th. National Bank Financial raised their price target on Enbridge from C$60.00 to C$61.00 in a report on Tuesday, August 2nd. Finally, US Capital Advisors downgraded Enbridge from an “overweight” rating to a “hold” rating in a report on Tuesday, July 26th. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $59.75.
Enbridge Stock Performance
Enbridge (NYSE:ENB – Get Rating) (TSE:ENB) last announced its quarterly earnings data on Friday, July 29th. The pipeline company reported $0.67 earnings per share 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 firm earned $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 business also recently announced a quarterly dividend, which was paid on Thursday, September 1st. Investors of record on Monday, August 15th were issued a dividend of $0.668 per share. This represents a $2.67 annualized dividend and a yield of 7.01%. The ex-dividend date of this dividend was Friday, August 12th. Enbridge’s dividend payout ratio (DPR) is 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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