Fulton Bank N.A. Sells 2,362 Shares of Enbridge Inc $ENB

by · The Cerbat Gem

Fulton Bank N.A. lessened its holdings in Enbridge Inc (NYSE:ENB – Free Report) (TSE:ENB) by 3.6% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 62,351 shares of the pipeline company’s stock after selling 2,362 shares during the quarter. Fulton Bank N.A.’s holdings in Enbridge were worth $2,826,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the business. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Enbridge by 11.0% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 486,910 shares of the pipeline company’s stock valued at $21,787,000 after purchasing an additional 48,353 shares in the last quarter. Mn Services Vermogensbeheer B.V. boosted its holdings in shares of Enbridge by 4.5% in the 2nd quarter. Mn Services Vermogensbeheer B.V. now owns 396,600 shares of the pipeline company’s stock valued at $17,948,000 after purchasing an additional 17,200 shares in the last quarter. Focus Financial Network Inc. boosted its holdings in shares of Enbridge by 12.6% in the 2nd quarter. Focus Financial Network Inc. now owns 19,623 shares of the pipeline company’s stock valued at $889,000 after purchasing an additional 2,201 shares in the last quarter. Chickasaw Capital Management LLC boosted its holdings in shares of Enbridge by 1.5% in the 2nd quarter. Chickasaw Capital Management LLC now owns 172,353 shares of the pipeline company’s stock valued at $7,811,000 after purchasing an additional 2,469 shares in the last quarter. Finally, Gilman Hill Asset Management LLC boosted its holdings in shares of Enbridge by 6.3% in the 2nd quarter. Gilman Hill Asset Management LLC now owns 138,299 shares of the pipeline company’s stock valued at $6,260,000 after purchasing an additional 8,247 shares in the last quarter. Institutional investors and hedge funds own 54.60% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on ENB. Wall Street Zen raised Enbridge from a “sell” rating to a “hold” rating in a report on Saturday, September 13th. Argus raised their price objective on Enbridge from $50.00 to $54.00 and gave the company a “buy” rating in a report on Tuesday, August 12th. Jefferies Financial Group raised Enbridge from a “hold” rating to a “buy” rating in a report on Wednesday, July 23rd. National Bankshares reissued a “sector perform” rating on shares of Enbridge in a report on Tuesday, August 5th. Finally, Zacks Research raised Enbridge from a “hold” rating to a “strong-buy” rating in a report on Friday, August 15th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, Enbridge currently has a consensus rating of “Moderate Buy” and a consensus target price of $60.50.

Get Our Latest Stock Analysis on ENB

Enbridge Stock Performance

ENB stock opened at $49.08 on Thursday. The stock has a 50-day moving average price of $46.94 and a 200-day moving average price of $45.50. Enbridge Inc has a 1-year low of $39.73 and a 1-year high of $49.36. The company has a current ratio of 0.75, a quick ratio of 0.65 and a debt-to-equity ratio of 1.58. The firm has a market cap of $107.03 billion, a PE ratio of 24.18, a price-to-earnings-growth ratio of 4.47 and a beta of 0.80.

Enbridge (NYSE:ENB – Get Free Report) (TSE:ENB) last posted its quarterly earnings data on Friday, August 1st. The pipeline company reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.06. Enbridge had a return on equity of 10.77% and a net margin of 10.11%.The firm had revenue of $7.14 billion during the quarter, compared to analyst estimates of $10.56 billion. During the same period last year, the company posted $0.58 EPS. As a group, equities research analysts expect that Enbridge Inc will post 2.14 earnings per share for the current year.

Enbridge Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 1st. Stockholders of record on Friday, August 15th were given a $0.6839 dividend. This is a boost from Enbridge’s previous quarterly dividend of $0.68. The ex-dividend date of this dividend was Friday, August 15th. This represents a $2.74 annualized dividend and a dividend yield of 5.6%. Enbridge’s dividend payout ratio is 134.98%.

Enbridge Profile

(Free Report)

Enbridge Inc, together with its subsidiaries, 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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