Virtus ETF Advisers LLC acquired a new position in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 70,549 shares of the pipeline company’s stock, valued at approximately $2,545,000.
Other hedge funds have also added to or reduced their stakes in the company. Hanson McClain Inc. grew its stake in shares of Enbridge by 41.9% during the 1st quarter. Hanson McClain Inc. now owns 1,005 shares of the pipeline company’s stock worth $36,000 after purchasing an additional 297 shares during the period. Lcnb Corp grew its stake in Enbridge by 1.0% in the 2nd quarter. Lcnb Corp now owns 30,021 shares of the pipeline company’s stock valued at $1,083,000 after acquiring an additional 308 shares during the last quarter. Global Retirement Partners LLC grew its stake in Enbridge by 2.8% in the 1st quarter. Global Retirement Partners LLC now owns 12,270 shares of the pipeline company’s stock valued at $445,000 after acquiring an additional 330 shares during the last quarter. CWM LLC grew its stake in Enbridge by 14.2% in the 2nd quarter. CWM LLC now owns 2,868 shares of the pipeline company’s stock valued at $103,000 after acquiring an additional 356 shares during the last quarter. Finally, Sequoia Financial Advisors LLC grew its stake in Enbridge by 3.7% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 10,970 shares of the pipeline company’s stock valued at $396,000 after acquiring an additional 394 shares during the last quarter. Hedge funds and other institutional investors own 53.86% of the company’s stock.
A number of equities research analysts recently commented on ENB shares. Goldman Sachs Group started coverage on shares of Enbridge in a research note on Thursday, July 18th. They issued a “neutral” rating on the stock. Wolfe Research cut shares of Enbridge from an “outperform” rating to a “peer perform” rating and set a $37.00 price objective on the stock. in a research note on Thursday, June 13th. ValuEngine cut shares of Enbridge from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. Finally, Bank of America cut shares of Enbridge from a “buy” rating to a “neutral” rating and set a $49.00 price objective on the stock. in a research note on Tuesday, July 2nd. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the stock. Enbridge presently has a consensus rating of “Hold” and a consensus price target of $43.75.
Shares of ENB stock traded up $0.29 during trading hours on Friday, hitting $34.99. 143,026 shares of the company were exchanged, compared to its average volume of 3,363,924. The firm has a market cap of $70.32 billion, a PE ratio of 17.08, a PEG ratio of 2.72 and a beta of 0.57. Enbridge Inc has a 1 year low of $28.82 and a 1 year high of $38.04. The company has a quick ratio of 0.53, a current ratio of 0.63 and a debt-to-equity ratio of 0.92. The firm has a fifty day moving average of $33.61 and a 200 day moving average of $35.75.
Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings data on Friday, August 2nd. The pipeline company reported $0.50 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.42 by $0.08. The business had revenue of $9.92 billion for the quarter. Enbridge had a net margin of 9.97% and a return on equity of 8.16%. Analysts expect that Enbridge Inc will post 1.9 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Thursday, August 15th were issued a dividend of $0.559 per share. This is a positive change from Enbridge’s previous quarterly dividend of $0.52. This represents a $2.24 annualized dividend and a dividend yield of 6.39%. The ex-dividend date was Wednesday, August 14th. Enbridge’s dividend payout ratio is presently 107.80%.
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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