Linscomb & Williams Inc. lessened its holdings in Enbridge Inc. (NYSE:ENB – Get Rating) (TSE:ENB) by 1.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 26,236 shares of the pipeline company’s stock after selling 390 shares during the quarter. Linscomb & Williams Inc.’s holdings in Enbridge were worth $1,025,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Consolidated Planning Corp bought a new position in Enbridge during the 3rd quarter worth approximately $25,000. Rosenberg Matthew Hamilton bought a new position in Enbridge during the 4th quarter worth approximately $30,000. First Command Financial Services Inc. boosted its stake in Enbridge by 153.3% during the 4th quarter. First Command Financial Services Inc. now owns 775 shares of the pipeline company’s stock worth $30,000 after acquiring an additional 469 shares during the last quarter. PSI Advisors LLC bought a new position in Enbridge during the 3rd quarter worth approximately $33,000. Finally, Cassady Schiller Wealth Management LLC bought a new position in Enbridge during the 4th quarter worth approximately $33,000. 53.23% of the stock is currently owned by institutional investors.
Several research firms recently weighed in on ENB. National Bank Financial lifted their price objective on shares of Enbridge from C$57.00 to C$60.00 in a research note on Monday, May 9th. Morgan Stanley lifted their price target on shares of Enbridge from C$60.00 to C$67.00 in a research note on Tuesday, April 26th. Raymond James lifted their price target on shares of Enbridge from C$53.00 to C$54.50 and gave the company a “market perform” rating in a research note on Monday, February 14th. CIBC lifted their price target on shares of Enbridge from C$57.00 to C$58.00 in a research note on Monday, February 14th. Finally, Scotiabank lifted their price target on shares of Enbridge from C$58.00 to C$62.00 in a research note on Tuesday, April 19th. Eight research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $55.43.
Enbridge (NYSE:ENB – Get Rating) (TSE:ENB) last issued its earnings results on Friday, May 6th. The pipeline company reported $0.84 earnings per share for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.01). Enbridge had a return on equity of 10.39% and a net margin of 12.20%. During the same quarter last year, the company earned $0.62 EPS. As a group, sell-side analysts expect that Enbridge Inc. will post 2.37 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 1st. Investors of record on Friday, May 13th will be issued a dividend of $0.669 per share. The ex-dividend date is Thursday, May 12th. This represents a $2.68 dividend on an annualized basis and a yield of 6.00%. Enbridge’s payout ratio is 117.47%.
Enbridge Profile (Get 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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