Shelter Mutual Insurance Co cut its position in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 8.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 81,920 shares of the pipeline company’s stock after selling 7,800 shares during the period. Shelter Mutual Insurance Co’s holdings in Enbridge were worth $2,956,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in ENB. Stephens Inc. AR boosted its stake in Enbridge by 54.8% during the second quarter. Stephens Inc. AR now owns 197,284 shares of the pipeline company’s stock worth $7,118,000 after acquiring an additional 69,880 shares in the last quarter. Jacobs & Co. CA raised its holdings in shares of Enbridge by 1.4% in the second quarter. Jacobs & Co. CA now owns 171,503 shares of the pipeline company’s stock valued at $6,187,000 after purchasing an additional 2,335 shares during the last quarter. DekaBank Deutsche Girozentrale raised its holdings in shares of Enbridge by 183.8% in the second quarter. DekaBank Deutsche Girozentrale now owns 357,787 shares of the pipeline company’s stock valued at $12,732,000 after purchasing an additional 231,721 shares during the last quarter. Sandy Spring Bank raised its holdings in shares of Enbridge by 0.8% in the second quarter. Sandy Spring Bank now owns 83,039 shares of the pipeline company’s stock valued at $2,996,000 after purchasing an additional 675 shares during the last quarter. Finally, Advisory Services Network LLC raised its holdings in shares of Enbridge by 7.1% in the second quarter. Advisory Services Network LLC now owns 35,361 shares of the pipeline company’s stock valued at $1,275,000 after purchasing an additional 2,353 shares during the last quarter. Institutional investors own 55.45% of the company’s stock.
Several analysts have recently commented on ENB shares. Bank of America downgraded shares of Enbridge from a “buy” rating to a “neutral” rating and set a $49.00 target price for the company. in a report on Tuesday, July 2nd. Goldman Sachs Group initiated coverage on shares of Enbridge in a report on Thursday, July 18th. They set a “neutral” rating for the company. ValuEngine downgraded shares of Enbridge from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. Wolfe Research downgraded shares of Enbridge from an “outperform” rating to a “peer perform” rating and set a $37.00 price objective for the company. in a report on Thursday, June 13th. Finally, Credit Suisse Group downgraded shares of Enbridge from an “outperform” rating to a “neutral” rating in a report on Thursday, April 25th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $43.75.
Shares of ENB traded up $0.44 during trading hours on Thursday, hitting $33.20. The company’s stock had a trading volume of 111,599 shares, compared to its average volume of 3,027,426. The company has a market cap of $66.30 billion, a P/E ratio of 16.20, a price-to-earnings-growth ratio of 2.64 and a beta of 0.59. The company has a current ratio of 0.63, a quick ratio of 0.53 and a debt-to-equity ratio of 0.92. The company has a 50 day moving average price of $35.02. Enbridge Inc has a 52-week low of $28.82 and a 52-week high of $38.04.
Enbridge (NYSE:ENB) (TSE:ENB) last posted its earnings results on Friday, August 2nd. The pipeline company reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.08. The firm had revenue of $9.92 billion during the quarter. Enbridge had a net margin of 9.97% and a return on equity of 8.16%. As a group, sell-side analysts anticipate that Enbridge Inc will post 1.9 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Sunday, September 1st. Stockholders of record on Thursday, August 15th will be paid a $0.559 dividend. This is an increase from Enbridge’s previous quarterly dividend of $0.52. The ex-dividend date is Wednesday, August 14th. This represents a $2.24 annualized dividend and a dividend yield of 6.73%. Enbridge’s dividend payout ratio (DPR) is presently 106.83%.
In other Enbridge news, insider Albert Monaco bought 7,848 shares of Enbridge stock in a transaction dated Wednesday, June 5th. The stock was purchased at an average price of $49.81 per share, for a total transaction of $390,908.88. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.42% of the stock is owned by company insiders.
Enbridge Inc operates as an energy infrastructure company in Canada and the United States. The company operates through 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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