Sanctuary Advisors LLC lifted its stake in shares of Enbridge Inc. (NYSE:ENB - Free Report) TSE: ENB by 7.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 175,166 shares of the pipeline company's stock after acquiring an additional 12,084 shares during the quarter. Sanctuary Advisors LLC's holdings in Enbridge were worth $7,578,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently modified their holdings of ENB. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its holdings in shares of 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 buying an additional 4,502,115 shares during the last quarter. Pathway Financial Advisers LLC raised its stake in Enbridge by 4,120.0% in the third quarter. Pathway Financial Advisers LLC now owns 4,571,669 shares of the pipeline company's stock worth $185,655,000 after buying an additional 4,463,335 shares in the last quarter. Cibc World Market Inc. boosted its position in Enbridge by 12.8% during the second quarter. Cibc World Market Inc. now owns 32,531,675 shares of the pipeline company's stock valued at $1,157,802,000 after purchasing an additional 3,693,495 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Enbridge by 27.8% during 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. Finally, National Bank of Canada FI boosted its position in shares of 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 purchasing an additional 2,061,758 shares in the last quarter. 54.60% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several analysts have commented on ENB shares. Jefferies Financial Group cut shares of Enbridge from a "buy" rating to a "hold" rating in a research note on Monday, September 30th. Wells Fargo & Company upgraded Enbridge from an "underweight" rating to an "equal weight" rating in a research report on Wednesday, November 6th. Morgan Stanley began coverage on shares of Enbridge in a research report on Friday, October 25th. They set an "equal weight" rating for the company. Finally, Royal Bank of Canada reissued an "outperform" rating and set a $63.00 price target (up previously from $59.00) on shares of Enbridge in a research report on Wednesday, December 4th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $63.00.
Read Our Latest Research Report on Enbridge
Enbridge Price Performance
Enbridge stock traded down $0.14 during midday trading on Friday, reaching $41.91. 2,346,253 shares of the company were exchanged, compared to its average volume of 4,870,875. The firm's 50-day simple moving average is $42.02 and its 200-day simple moving average is $39.32. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.54 and a current ratio of 0.62. The company has a market capitalization of $91.28 billion, a price-to-earnings ratio of 19.40, a P/E/G ratio of 4.18 and a beta of 0.94. Enbridge Inc. has a 1 year low of $32.85 and a 1 year high of $44.13.
Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last released its quarterly earnings data on Friday, November 1st. The pipeline company reported $0.55 earnings per share for the quarter, beating the consensus estimate 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 period in the previous year, the company posted $0.46 EPS. On average, analysts anticipate that Enbridge Inc. will post 2.03 EPS for the current year.
Enbridge Cuts Dividend
The business also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Saturday, February 15th will be issued a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a dividend yield of 6.39%. The ex-dividend date is Friday, February 14th. Enbridge's dividend payout ratio (DPR) is presently 121.76%.
Enbridge Company Profile
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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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