YorkBridge Wealth Partners LLC lifted its position in shares of Enbridge Inc. (NYSE:ENB – Get Rating) (TSE:ENB) by 9.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 32,305 shares of the pipeline company’s stock after acquiring an additional 2,724 shares during the period. YorkBridge Wealth Partners LLC’s holdings in Enbridge were worth $1,365,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds also recently made changes to their positions in ENB. GQG Partners LLC increased its position in shares of Enbridge by 389.4% during the first quarter. GQG Partners LLC now owns 47,579,706 shares of the pipeline company’s stock worth $2,191,962,000 after buying an additional 37,857,799 shares during the period. Norges Bank purchased a new stake in shares of Enbridge in the fourth quarter valued at about $676,148,000. Cook Street Consulting Inc. purchased a new stake in Enbridge during the fourth quarter worth about $348,749,000. The Manufacturers Life Insurance Company increased its holdings in Enbridge by 40.9% during the first quarter. The Manufacturers Life Insurance Company now owns 19,961,512 shares of the pipeline company’s stock worth $920,387,000 after buying an additional 5,794,908 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its stake in shares of Enbridge by 46.3% in the first quarter. JPMorgan Chase & Co. now owns 12,818,403 shares of the pipeline company’s stock worth $590,801,000 after purchasing an additional 4,054,557 shares in the last quarter. Institutional investors own 49.26% of the company’s stock.
Analysts Set New Price Targets
Several equities analysts have recently weighed in on ENB shares. US Capital Advisors downgraded shares of Enbridge from an “overweight” rating to a “hold” rating in a research note on Tuesday, July 26th. Industrial Alliance Securities upgraded shares of 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 shares of Enbridge from a “market perform” rating to an “outperform” rating in a research report on Monday, September 12th. Finally, National Bank Financial lifted their target price on shares of Enbridge from C$60.00 to C$61.00 in a research report on Tuesday, August 2nd. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $59.75.
Enbridge Stock Down 0.2 %
Enbridge (NYSE:ENB – Get Rating) (TSE:ENB) last issued its quarterly earnings data 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 net margin of 9.98% and a return on equity of 10.46%. During the same quarter in the prior year, the company posted $0.55 EPS. On average, equities research analysts expect that Enbridge Inc. will post 2.3 earnings per share for the current year.
Enbridge Cuts Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, September 1st. Stockholders of record on Monday, August 15th were issued a dividend of $0.668 per share. This represents a $2.67 dividend on an annualized basis and a dividend yield of 6.67%. The ex-dividend date of this dividend was Friday, August 12th. Enbridge’s dividend payout ratio (DPR) is presently 140.00%.
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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