CIBC Asset Management Inc trimmed its holdings in Enbridge Inc. (NYSE:ENB - Free Report) TSE: ENB by 0.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,135,633 shares of the pipeline company's stock after selling 25,391 shares during the quarter. Enbridge comprises approximately 3.4% of CIBC Asset Management Inc's portfolio, making the stock its 2nd largest holding. CIBC Asset Management Inc owned approximately 1.11% of Enbridge worth $1,025,726,000 as of its most recent SEC filing.
A number of other institutional investors have also bought and sold shares of ENB. Creative Planning lifted its stake in Enbridge by 5.9% in the 3rd quarter. Creative Planning now owns 241,572 shares of the pipeline company's stock worth $9,810,000 after purchasing an additional 13,455 shares in the last quarter. Bleakley Financial Group LLC increased its holdings in shares of Enbridge by 7.3% during the 3rd quarter. Bleakley Financial Group LLC now owns 19,407 shares of the pipeline company's stock worth $788,000 after buying an additional 1,313 shares during the last quarter. Stratos Wealth Advisors LLC acquired a new stake in shares of Enbridge during the 3rd quarter worth approximately $204,000. Blue Trust Inc. increased its holdings in shares of Enbridge by 39.9% during the 3rd quarter. Blue Trust Inc. now owns 13,736 shares of the pipeline company's stock worth $558,000 after buying an additional 3,917 shares during the last quarter. Finally, Capital Investment Advisors LLC increased its holdings in shares of Enbridge by 5.0% during the 3rd quarter. Capital Investment Advisors LLC now owns 53,802 shares of the pipeline company's stock worth $2,185,000 after buying an additional 2,564 shares during the last quarter. 54.60% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of analysts have recently issued reports on the stock. Morgan Stanley began coverage on shares of Enbridge in a report on Friday, October 25th. They set an "equal weight" rating for the company. Royal Bank of Canada lifted their target price on shares of Enbridge from $63.00 to $67.00 and gave the company an "outperform" rating in a report on Tuesday. TD Securities began coverage on shares of Enbridge in a report on Wednesday, January 15th. They issued a "buy" rating for the company. Finally, Wells Fargo & Company upgraded shares of Enbridge from an "underweight" rating to an "equal weight" rating in a report on Wednesday, November 6th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, Enbridge presently has a consensus rating of "Hold" and an average price target of $67.00.
Check Out Our Latest Stock Report on ENB
Enbridge Stock Down 0.9 %
Shares of NYSE:ENB traded down $0.37 during trading on Thursday, hitting $41.95. The company's stock had a trading volume of 5,546,331 shares, compared to its average volume of 4,327,491. The business has a 50 day moving average price of $43.35 and a two-hundred day moving average price of $41.84. The company has a market capitalization of $91.40 billion, a PE ratio of 24.39, a P/E/G ratio of 4.03 and a beta of 0.94. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.54 and a current ratio of 0.62. Enbridge Inc. has a fifty-two week low of $32.85 and a fifty-two week high of $45.78.
Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last posted its quarterly earnings results on Friday, February 14th. The pipeline company reported $0.75 EPS for the quarter, topping the consensus estimate of $0.52 by $0.23. The business had revenue of $11.59 billion during the quarter, compared to the consensus estimate of $4.78 billion. Enbridge had a net margin of 10.04% and a return on equity of 10.15%. During the same quarter in the previous year, the firm posted $0.64 earnings per share. As a group, research analysts expect that Enbridge Inc. will post 2.12 EPS for the current fiscal year.
Enbridge Cuts Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Saturday, February 15th will be given a dividend of $0.67 per share. The ex-dividend date is Friday, February 14th. This represents a $2.68 annualized dividend and a dividend yield of 6.39%. Enbridge's dividend payout ratio (DPR) is currently 155.81%.
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.
See Also
Before you consider Enbridge, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Enbridge wasn't on the list.
While Enbridge currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
