1,416,302 shares of the stock traded hands.
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Enbridge Inc.’s affiliate Enbridge Energy Partners (“EEP”) will withdraw regulatory applications pending with the Minnesota Public Utilities Commission for the Sandpiper Pipeline project (“Sandpiper”).
Other hedge funds recently made changes to their positions in the company.
The company’s price sits 0.25% above from its 50-day moving average of $40.78 and 10.68% far from the stock’s 200-day moving average which is $39.93. Zions Bancorporation increased its stake in shares of Enbridge by 508.9% in the first quarter.
Several other brokerages have also issued reports on ENB. The stock’s market capitalization is 1.87B, it has a 52-week low of 13.80 and a 52-week high of 27.86. Company has a market cap of $36,967 M. Jones Financial Companies Lllp now owns 11,382 shares of the company’s stock valued at $443,000 after buying an additional 831 shares during the period. IFP Advisors Inc now owns 6,695 shares of the company’s stock worth $261,000 after buying an additional 899 shares in the last quarter.
On the company’s financial health, Enbridge Inc (USA) reported $0.50 EPS for the quarter, based on the information available during the earnings call on Jul 29, 2016.
Enbridge (NYSE:ENB) last announced its quarterly earnings results on Friday, July 29th. For the current quarter the company has high EPS estimates of $0.4 in contradiction of low EPS estimates of $0.21. During the same quarter in the previous year, the company earned $0.60 EPS. Stockholders of record on Thursday, September 1st were issued a $0.53 dividend. The ex-dividend date was Thursday, August 11th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 3.98%.
Enbridge Inc (NYSE:ENB): After opening at $39.97, the stock dipped to an intraday low of $39.85 on Friday.
04/01/2016 – Enbridge Energy Management LLC had its “neutral” rating reiterated by analysts at Piper Jaffray. Royal Bank Of Canada reiterated an “outperform” rating and set a C$64.00 target price on shares of Enbridge in a report on Tuesday, June 28th. Five research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Enbridge Inc (USA) (NYSE:ENB)’s shares are now trading -4.82% away from the 52-week high price of $43.07 and +54.35% far from the 52-week low price of $26.56.
According to Zacks Investment Research, “Enbridge Inc., a Canadian company, is a leader in energy transportation and distribution in North America and internationally”. The Company operates in five segments: Liquids Pipelines; Gas Distribution; Gas Pipelines, Processing and Energy Services; Sponsored Investments, and Corporate.
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Given recent funding actions and the plan to defer the Sandpiper project beyond the Company’s 5 year planning horizon, the investment in the Bakken Pipeline system is not expected to generate an incremental requirement for equity capital at Enbridge over and above amounts indicated in the company’s previously communicated consolidated funding plan for the years 2015 through 2019.
