Benjamin Edwards Inc. increased its holdings in shares of Enbridge Inc. (NYSE:ENB - Free Report) TSE: ENB by 1,229.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 64,594 shares of the pipeline company's stock after buying an additional 59,737 shares during the quarter. Benjamin Edwards Inc.'s holdings in Enbridge were worth $2,627,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Swiss National Bank grew its stake in shares of Enbridge by 3.2% during the third quarter. Swiss National Bank now owns 6,585,231 shares of the pipeline company's stock worth $267,935,000 after buying an additional 207,200 shares during the last quarter. Pinnacle Financial Partners Inc raised its position in shares of Enbridge by 8.8% during the third quarter. Pinnacle Financial Partners Inc now owns 188,244 shares of the pipeline company's stock worth $7,650,000 after acquiring an additional 15,207 shares during the last quarter. Stonegate Investment Group LLC increased its position in shares of Enbridge by 66.5% during the third quarter. Stonegate Investment Group LLC now owns 33,833 shares of the pipeline company's stock worth $1,374,000 after buying an additional 13,515 shares during the period. CIBC Asset Management Inc lifted its stake in shares of Enbridge by 4.0% in the 3rd quarter. CIBC Asset Management Inc now owns 24,161,024 shares of the pipeline company's stock valued at $984,205,000 after purchasing an additional 936,863 shares during the period. Finally, Lindbrook Capital LLC boosted its stake in Enbridge by 816.2% during the third quarter. Lindbrook Capital LLC now owns 21,714 shares of the pipeline company's stock worth $882,000 after acquiring an additional 19,344 shares in the last quarter. Institutional investors and hedge funds own 54.60% of the company's stock.
Wall Street Analysts Forecast Growth
Several brokerages have weighed in on ENB. Wells Fargo & Company upgraded Enbridge from an "underweight" rating to an "equal weight" rating in a research note on Wednesday, November 6th. Morgan Stanley began coverage on Enbridge in a research note on Friday, October 25th. They set an "equal weight" rating on the stock. Jefferies Financial Group cut Enbridge from a "buy" rating to a "hold" rating in a research report on Monday, September 30th. Finally, Royal Bank of Canada restated an "outperform" rating and issued a $63.00 price objective (up from $59.00) on shares of Enbridge in a report on Wednesday. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $63.00.
View Our Latest Research Report on ENB
Enbridge Trading Up 0.6 %
Shares of ENB traded up $0.27 during midday trading on Thursday, hitting $43.91. The stock had a trading volume of 5,538,287 shares, compared to its average volume of 4,872,006. Enbridge Inc. has a 1 year low of $32.85 and a 1 year high of $44.13. The firm has a market cap of $95.64 billion, a PE ratio of 20.36, a price-to-earnings-growth ratio of 4.27 and a beta of 0.94. The stock's 50 day moving average is $41.78 and its 200 day moving average is $39.01. The company has a debt-to-equity ratio of 1.41, a current ratio of 0.62 and a quick ratio of 0.54.
Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last posted its earnings results on Friday, November 1st. The pipeline company reported $0.55 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.40 by $0.15. Enbridge had a net margin of 13.54% and a return on equity of 9.94%. The company had revenue of $10.91 billion during the quarter, compared to the consensus estimate of $4.54 billion. During the same period in the previous year, the firm posted $0.46 earnings per share. As a group, analysts forecast that Enbridge Inc. will post 2.04 EPS for the current fiscal year.
Enbridge Cuts Dividend
The business also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Saturday, February 15th will be given a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a yield of 6.10%. The ex-dividend date is Friday, February 14th. Enbridge's dividend payout ratio is currently 121.76%.
Enbridge Company 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.
Featured Stories
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
Looking to avoid the hassle of mudslinging, volatility, and uncertainty? You'd need to be out of the market, which isn’t viable. So where should investors put their money? Find out with this report.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
