Carnegie Capital Asset Management LLC reduced its position in shares of Enbridge Inc. (NYSE: ENB – Get a rating) (TSE:ENB) by 20.9% in the first quarter, according to its latest filing with the Securities & Exchange Commission. The fund held 10,041 shares of the pipeline company after selling 2,658 shares during the period. Carnegie Capital Asset Management LLC’s holdings in Enbridge were worth $463,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently changed their holdings in ENB. Consolidated Planning Corp acquired a new position in Enbridge during Q3 worth approximately $25,000. Rosenberg Matthew Hamilton acquired a new position in Enbridge during Q4 worth approximately $30,000. First Command Financial Services Inc. increased its stake in Enbridge by 153.3% during the 4th quarter. First Command Financial Services Inc. now owns 775 shares of the pipeline company worth $30,000 after purchasing an additional 469 shares during the period. Rise Advisors LLC acquired a new position in Enbridge during Q4 worth approximately $32,000. Finally, Cassady Schiller Wealth Management LLC acquired a new position in Enbridge during Q4 worth approximately $33,000. Institutional investors and hedge funds own 53.23% of the company’s shares.
Several brokerages commented on ENB. TD Securities raised its target price on Enbridge from C$61.00 to C$62.00 in a Monday, May 9 report. Scotiabank raised its price target on Enbridge from C$58.00 to C$62.00 in a Tuesday, April 19 research note. Morgan Stanley raised its price target on Enbridge from C$60.00 to C$67.00 in a Tuesday, April 26 research note. US Capital Advisors reissued an “overweight” rating on Enbridge shares in a Wednesday, June 1 research note. Finally, Royal Bank of Canada raised its price target on Enbridge from C$60.00 to C$65.00 in a Monday, May 9 research note. Seven equity research analysts gave the stock a hold rating and eight gave the company a buy rating. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $57.42.
Shares of IN B opened at $40.80 on Friday. The company has a debt ratio of 1.23, a quick ratio of 0.60 and a current ratio of 0.68. The stock has a 50-day moving average price of $44.51 and a 200-day moving average price of $43.00. The company has a market capitalization of $82.68 billion, a P/E ratio of 17.82, a P/E/G ratio of 2.91 and a beta of 0.77. Enbridge Inc. has a 52-week low of $36.21 and a 52-week high of $47.67.
Enbridge (NYSE: ENB – Get a rating) (TSE:ENB) last released quarterly earnings data on Friday, May 6. The pipeline company reported EPS of $0.66 for the quarter, missing analyst consensus estimates of $0.67 per ($0.01). The company posted revenue of $11.92 billion for the quarter, versus a consensus estimate of $8.76 billion. Enbridge had a return on equity of 10.40% and a net margin of 12.20%. In the same period a year earlier, the company posted earnings per share of $0.62. On average, stock analysts expect Enbridge Inc. to post earnings per share of 2.38 for the current year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, June 1. Shareholders of record on Friday, May 13 received a dividend of $0.669. This represents an annualized dividend of $2.68 and a dividend yield of 6.56%. The ex-dividend date was Thursday, May 12. Enbridge’s dividend payout ratio is currently 116.16%.
Enbridge Company Profile (Get a rating)
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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