Bank of Jackson Hole Trust bought a new position in Enbridge Inc. (NYSE:ENB - Free Report) TSE: ENB during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 8,667 shares of the pipeline company's stock, valued at approximately $368,000.
A number of other hedge funds have also added to or reduced their stakes in ENB. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its stake in Enbridge by 1,514.7% in the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 4,799,345 shares of the pipeline company's stock worth $194,938,000 after acquiring an additional 4,502,115 shares in the last quarter. Pathway Financial Advisers LLC grew its stake in Enbridge by 4,120.0% in the 3rd quarter. Pathway Financial Advisers LLC now owns 4,571,669 shares of the pipeline company's stock worth $185,655,000 after acquiring an additional 4,463,335 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its stake in Enbridge by 27.8% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 12,278,739 shares of the pipeline company's stock worth $498,734,000 after acquiring an additional 2,668,692 shares in the last quarter. National Bank of Canada FI grew its stake in Enbridge by 12.8% in the 3rd quarter. National Bank of Canada FI now owns 18,163,353 shares of the pipeline company's stock worth $737,754,000 after acquiring an additional 2,061,758 shares in the last quarter. Finally, Kayne Anderson Capital Advisors LP grew its stake in Enbridge by 55.2% in the 3rd quarter. Kayne Anderson Capital Advisors LP now owns 4,143,265 shares of the pipeline company's stock worth $168,258,000 after acquiring an additional 1,472,789 shares in the last quarter. 54.60% of the stock is currently owned by institutional investors.
Enbridge Stock Down 0.6 %
Shares of NYSE ENB traded down $0.25 during midday trading on Friday, reaching $41.74. 6,521,927 shares of the company's stock traded hands, compared to its average volume of 4,245,049. The company has a quick ratio of 0.54, a current ratio of 0.55 and a debt-to-equity ratio of 1.50. The stock's 50 day simple moving average is $43.35 and its 200-day simple moving average is $41.89. Enbridge Inc. has a one year low of $32.85 and a one year high of $45.78. The company has a market cap of $90.94 billion, a price-to-earnings ratio of 24.26, a P/E/G ratio of 3.92 and a beta of 0.94.
Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last posted its earnings results on Friday, February 14th. The pipeline company reported $0.75 EPS for the quarter, beating analysts' consensus estimates of $0.52 by $0.23. Enbridge had a net margin of 10.04% and a return on equity of 10.16%. The company had revenue of $11.59 billion during the quarter, compared to analysts' expectations of $4.78 billion. During the same quarter in the prior year, the company posted $0.64 earnings per share. On average, analysts predict that Enbridge Inc. will post 2.14 EPS for the current fiscal year.
Enbridge Cuts Dividend
The company also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Saturday, February 15th will be given a dividend of $0.67 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.68 dividend on an annualized basis and a yield of 6.42%. Enbridge's payout ratio is 155.81%.
Wall Street Analysts Forecast Growth
ENB has been the topic of a number of research analyst reports. Wells Fargo & Company upgraded shares of Enbridge from an "underweight" rating to an "equal weight" rating in a research note on Wednesday, November 6th. TD Securities initiated coverage on shares of Enbridge in a research note on Wednesday, January 15th. They set a "buy" rating on the stock. Royal Bank of Canada increased their price objective on shares of Enbridge from $63.00 to $67.00 and gave the company an "outperform" rating in a research note on Tuesday. Finally, Morgan Stanley initiated coverage on shares of Enbridge in a research note on Friday, October 25th. They set an "equal weight" rating on the stock. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $67.00.
Check Out Our Latest Research Report on ENB
About Enbridge
(
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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