Scout Investments Inc. boosted its position in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 27.2% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 559,198 shares of the pipeline company’s stock after buying an additional 119,519 shares during the period. Scout Investments Inc.’s holdings in Enbridge were worth $17,598,000 as of its most recent SEC filing.
A number of other large investors have also recently bought and sold shares of ENB. Taylor Hoffman Wealth Management purchased a new stake in shares of Enbridge during the 4th quarter worth $140,000. Bedel Financial Consulting Inc. purchased a new stake in shares of Enbridge during the 1st quarter worth $145,000. Field & Main Bank purchased a new stake in shares of Enbridge during the 4th quarter worth $149,000. Icon Wealth Partners LLC purchased a new stake in shares of Enbridge during the 4th quarter worth $163,000. Finally, Wagner Wealth Management LLC purchased a new stake in shares of Enbridge during the 4th quarter worth $179,000. Hedge funds and other institutional investors own 60.38% of the company’s stock.
Several research analysts have recently issued reports on the company. ValuEngine raised Enbridge from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 12th. BMO Capital Markets cut their price target on Enbridge from $61.00 to $59.00 and set an “outperform” rating for the company in a research note on Thursday. Zacks Investment Research raised Enbridge from a “sell” rating to a “hold” rating in a research note on Thursday, April 12th. CIBC downgraded Enbridge to a “buy” rating and set a $57.00 price target for the company. in a research note on Tuesday, May 22nd. Finally, Morgan Stanley cut their price target on Enbridge from $38.00 to $34.00 and set an “equal weight” rating for the company in a research note on Friday, March 23rd. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company’s stock. Enbridge has an average rating of “Hold” and a consensus price target of $51.00.
Enbridge (NYSE:ENB) (TSE:ENB) last announced its earnings results on Thursday, May 10th. The pipeline company reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.34. Enbridge had a net margin of 5.61% and a return on equity of 7.35%. The firm had revenue of $12.73 billion during the quarter, compared to the consensus estimate of $10.29 billion. During the same quarter in the previous year, the company posted $0.57 EPS. research analysts predict that Enbridge Inc will post 1.94 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, June 1st. Investors of record on Tuesday, May 15th were paid a $0.5295 dividend. This is an increase from Enbridge’s previous quarterly dividend of $0.53. The ex-dividend date was Monday, May 14th. This represents a $2.12 annualized dividend and a yield of 6.50%. Enbridge’s payout ratio is presently 135.06%.
Enbridge Inc operates as an energy infrastructure company in Canada and the United States. The company operates in 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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