Fiduciary Financial Services of The Southwest Inc. TX reduced its holdings in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 1.1% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 65,993 shares of the pipeline company’s stock after selling 753 shares during the quarter. Fiduciary Financial Services of The Southwest Inc. TX’s holdings in Enbridge were worth $2,315,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also modified their holdings of the company. Manchester Financial Inc. bought a new position in shares of Enbridge during the 2nd quarter worth approximately $25,000. Westside Investment Management Inc. bought a new position in shares of Enbridge during the 2nd quarter worth approximately $25,000. Strategic Blueprint LLC bought a new position in shares of Enbridge during the 3rd quarter worth approximately $27,000. SRS Capital Advisors Inc. bought a new position in shares of Enbridge during the 2nd quarter worth approximately $35,000. Finally, Vista Private Wealth Partners. LLC bought a new position in shares of Enbridge during the 3rd quarter worth approximately $33,000. 53.82% of the stock is owned by institutional investors.
ENB has been the subject of several research reports. Bank of America cut shares of Enbridge from a “buy” rating to a “neutral” rating and set a $49.00 price target for the company. in a research note on Tuesday, July 2nd. CIBC decreased their price target on shares of Enbridge from $57.00 to $56.00 in a research note on Wednesday. ValuEngine cut shares of Enbridge from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. Goldman Sachs Group initiated coverage on shares of Enbridge in a research note on Thursday, July 18th. They set a “neutral” rating for the company. Finally, Scotiabank raised shares of Enbridge from a “sector perform” rating to an “outperform” rating in a research note on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the stock. Enbridge currently has a consensus rating of “Hold” and a consensus target price of $44.79.
Enbridge (NYSE:ENB) (TSE:ENB) last released its earnings results on Friday, August 2nd. The pipeline company reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.08. Enbridge had a net margin of 9.97% and a return on equity of 8.16%. The business had revenue of $9.92 billion during the quarter. As a group, equities analysts predict that Enbridge Inc will post 2 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st were paid a $0.251 dividend. The ex-dividend date was Monday, September 30th. This represents a $1.00 annualized dividend and a dividend yield of 2.75%. Enbridge’s dividend payout ratio is presently 107.80%.
Enbridge Company Profile
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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