WealthTrust Axiom LLC maintained its position in Enbridge Inc (NYSE:ENB) (TSE:ENB) during the second quarter, Holdings Channel reports. Caisse De Depot Et Placement Du Quebec sold 101,936 shares as the company's stock declined 5.78% while stock markets rallied.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Monroe Bank & Trust MI purchased a new stake in Enbridge during the first quarter worth $105,000. Financial Architects Inc raised its stake in Enbridge by 2,987.7% in the first quarter. The fund owned 5,057 shares of the pipeline company's stock at the end of the second quarter. AQR Capital Management LLC increased its stake in shares of Enbridge by 153.9% in the fourth quarter. Finally, Mascoma Wealth Management LLC purchased a new position in Enbridge during the first quarter worth $111,000. TD Asset Management Inc. now owns 41,491,668 shares of the pipeline company's stock worth $1,733,219,000 after buying an additional 9,123,400 shares during the period.
Shares of Enbridge (ENB) traded down 1.64% during mid-day trading on Tuesday, hitting $40.83. The company's 50-day moving average is $40.07 and its 200 day moving average is $41.05. The company has a market capitalization of $66.91 billion, a PE ratio of 42.75 and a beta of 0.62. Enbridge Inc has a 1-year low of $37.37 and a 1-year high of $45.77.
Analysts expect Inter Pipeline Ltd (TSE:IPL) to report $0.34 EPS on August, 10.They anticipate $0.00 EPS change or 0.00% from last quarter's $0.34 EPS. As of the latest earnings report the EPS was $0.95 and is estimated to be $1.64 for the current year with 1,638,832,000 shares presently outstanding. The company had revenue of $8.26 billion for the quarter, compared to analysts' expectations of $8.81 billion.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Tuesday, August 15th will be paid a dividend of $0.489 per share. This is a boost from Enbridge's previous quarterly dividend of $0.33. This represents a $1.96 annualized dividend and a yield of 4.79%. Enbridge's payout ratio is now 173.79%.
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A number of research firms have weighed in on ENB. Zacks Investment Research lowered shares of Enbridge from a "hold" rating to a "sell" rating in a research report on Tuesday, July 11th. J P Morgan Chase & Co restated a "neutral" rating on shares of Enbridge in a research note on Friday, June 23rd. They now have a $44.00 price target on the pipeline company's stock, down from their previous price target of $45.00. BidaskClub raised shares of Enbridge from a "strong sell" rating to a "sell" rating in a research note on Saturday, June 24th. Wolfe Research started coverage on shares of Enbridge in a research note on Friday, May 12th. RBC Capital Markets maintained the stock with "Sector Perform" rating in Wednesday, May 11 report.
Among 16 analysts covering Public Storage (NYSE:PSA), 2 have Buy rating, 2 Sell and 12 Hold.
JP Morgan initiated Enbridge Inc (USA) (NYSE:ENB) on Tuesday, December 15 with "Overweight" rating. The Company is involved in delivering energy.
Inter Pipeline Ltd.is a petroleum transportation, storage and natural gas liquids processing business. Liquids Pipelines consists of common carrier and contract crude oil, natural gas liquids (NGL), and refined products pipelines and terminals, in Canada and the United States, including Canadian Mainline, Lakehead Pipeline System (Lakehead System), Regional Oil Sands System, Mid-Continent and Gulf Coast, Southern Lights Pipeline, Bakken System, and Feeder Pipelines and Other.
On March 7, 2016 Canaccord Genuity began coverage of ENB by announcing an initial rating of "Buy".
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