Squar Milner Financial Services LLC trimmed its holdings in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 7.5% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 10,541 shares of the pipeline company’s stock after selling 853 shares during the period. Squar Milner Financial Services LLC’s holdings in Enbridge were worth $369,000 at the end of the most recent quarter.
Other institutional investors have also modified their holdings of the company. Bank of Nova Scotia Trust Co. boosted its position in shares of Enbridge by 12.5% during the second quarter. Bank of Nova Scotia Trust Co. now owns 625,148 shares of the pipeline company’s stock worth $22,555,000 after buying an additional 69,399 shares during the period. NEXT Financial Group Inc boosted its position in shares of Enbridge by 67.6% during the second quarter. NEXT Financial Group Inc now owns 25,215 shares of the pipeline company’s stock worth $910,000 after buying an additional 10,170 shares during the period. National Pension Service purchased a new position in shares of Enbridge during the second quarter worth $98,372,000. Lee Financial Group Hawaii Inc. purchased a new position in shares of Enbridge during the second quarter worth $784,000. Finally, Addenda Capital Inc. boosted its position in shares of Enbridge by 6.7% during the second quarter. Addenda Capital Inc. now owns 1,855,043 shares of the pipeline company’s stock worth $67,146,000 after buying an additional 116,982 shares during the period. Institutional investors own 53.82% of the company’s stock.
ENB has been the subject of several research analyst reports. Barclays lowered Enbridge from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $52.00 to $51.00 in a research report on Tuesday, October 15th. Bank of America lowered Enbridge from a “buy” rating to a “neutral” rating and set a $49.00 price target for the company. in a research report on Tuesday, July 2nd. ValuEngine lowered Enbridge from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Scotiabank upgraded Enbridge from a “sector perform” rating to an “outperform” rating in a research report on Thursday, October 10th. Finally, Goldman Sachs Group started coverage on Enbridge in a research report on Thursday, July 18th. They set a “neutral” rating for the company. One research analyst has rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the company’s stock. Enbridge currently has an average rating of “Hold” and a consensus target price of $44.96.
Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings data on Friday, August 2nd. The pipeline company reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.08. The business had revenue of $9.92 billion for the quarter. Enbridge had a return on equity of 8.16% and a net margin of 9.97%. On average, analysts expect that Enbridge Inc will post 2 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st were paid a $0.251 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.75%. The ex-dividend date was Monday, September 30th. Enbridge’s payout ratio is currently 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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