Duff & Phelps Investment Management Co. grew its stake in shares of Enbridge Inc. (NYSE:ENB - Free Report) TSE: ENB by 32.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,302,132 shares of the pipeline company's stock after purchasing an additional 319,907 shares during the period. Duff & Phelps Investment Management Co. owned about 0.06% of Enbridge worth $52,880,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also modified their holdings of the stock. TruNorth Capital Management LLC purchased a new position in Enbridge during the 2nd quarter worth approximately $28,000. William B. Walkup & Associates Inc. acquired a new position in Enbridge during the second quarter valued at $28,000. Grove Bank & Trust lifted its stake in Enbridge by 56.7% in the 3rd quarter. Grove Bank & Trust now owns 771 shares of the pipeline company's stock worth $31,000 after acquiring an additional 279 shares in the last quarter. MFA Wealth Advisors LLC boosted its position in Enbridge by 55.6% during the 3rd quarter. MFA Wealth Advisors LLC now owns 784 shares of the pipeline company's stock worth $32,000 after acquiring an additional 280 shares during the period. Finally, Fortitude Family Office LLC purchased a new position in Enbridge during the 3rd quarter valued at about $35,000. Institutional investors and hedge funds own 54.60% of the company's stock.
Enbridge Stock Down 1.8 %
Shares of ENB traded down $0.79 during mid-day trading on Monday, hitting $42.35. 5,077,253 shares of the company's stock were exchanged, compared to its average volume of 4,871,972. The company has a quick ratio of 0.54, a current ratio of 0.62 and a debt-to-equity ratio of 1.41. Enbridge Inc. has a twelve month low of $32.85 and a twelve month high of $44.13. The firm has a fifty day moving average of $41.89 and a two-hundred day moving average of $39.13. The stock has a market cap of $92.24 billion, a price-to-earnings ratio of 19.97, a P/E/G ratio of 4.26 and a beta of 0.94.
Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last issued its quarterly earnings data on Friday, November 1st. The pipeline company reported $0.55 EPS for the quarter, beating analysts' consensus estimates of $0.40 by $0.15. Enbridge had a return on equity of 9.94% and a net margin of 13.54%. The business had revenue of $10.91 billion for the quarter, compared to analyst estimates of $4.54 billion. During the same quarter in the prior year, the firm posted $0.46 EPS. On average, sell-side analysts forecast that Enbridge Inc. will post 2.03 earnings per share for the current year.
Enbridge Cuts Dividend
The firm also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Saturday, February 15th will be given a $0.67 dividend. This represents a $2.68 annualized dividend and a dividend yield of 6.33%. The ex-dividend date is Friday, February 14th. Enbridge's dividend payout ratio is currently 121.76%.
Wall Street Analyst Weigh In
Several analysts recently commented on the stock. Morgan Stanley initiated coverage on shares of Enbridge in a report on Friday, October 25th. They set an "equal weight" rating for the company. Wells Fargo & Company upgraded shares of Enbridge from an "underweight" rating to an "equal weight" rating in a report on Wednesday, November 6th. Royal Bank of Canada reissued an "outperform" rating and set a $63.00 price objective (up previously from $59.00) on shares of Enbridge in a research report on Wednesday, December 4th. Finally, Jefferies Financial Group lowered Enbridge from a "buy" rating to a "hold" rating in a research report on Monday, September 30th. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, Enbridge currently has a consensus rating of "Hold" and a consensus price target of $63.00.
Get Our Latest Stock Analysis 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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