Ted Buchan & Co increased its position in shares of Enbridge Inc. (NYSE:ENB - Free Report) TSE: ENB by 43.5% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 48,799 shares of the pipeline company's stock after buying an additional 14,791 shares during the period. Enbridge accounts for 0.9% of Ted Buchan & Co's holdings, making the stock its 25th biggest position. Ted Buchan & Co's holdings in Enbridge were worth $1,985,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ENB. TruNorth Capital Management LLC acquired a new position in shares of Enbridge during the 2nd quarter worth approximately $28,000. William B. Walkup & Associates Inc. purchased a new stake in Enbridge in the 2nd quarter worth $28,000. Ameritas Investment Partners Inc. acquired a new position in Enbridge during the first quarter worth $29,000. Grove Bank & Trust lifted its holdings in Enbridge by 56.7% during the third quarter. Grove Bank & Trust now owns 771 shares of the pipeline company's stock valued at $31,000 after purchasing an additional 279 shares in the last quarter. Finally, MFA Wealth Advisors LLC grew its position in shares of Enbridge by 55.6% in the third quarter. MFA Wealth Advisors LLC now owns 784 shares of the pipeline company's stock valued at $32,000 after purchasing an additional 280 shares during the period. Institutional investors and hedge funds own 54.60% of the company's stock.
Analysts Set New Price Targets
A number of research analysts recently weighed in on ENB shares. Wells Fargo & Company raised shares of Enbridge from an "underweight" rating to an "equal weight" rating in a research note on Wednesday. Morgan Stanley assumed coverage on Enbridge in a research report on Friday, October 25th. They issued an "equal weight" rating on the stock. Finally, Jefferies Financial Group lowered Enbridge from a "buy" rating to a "hold" rating in a research note on Monday, September 30th.
Get Our Latest Stock Report on Enbridge
Enbridge Price Performance
ENB traded down $0.09 during trading on Friday, reaching $42.33. The company's stock had a trading volume of 4,583,020 shares, compared to its average volume of 3,357,806. The company has a market cap of $92.18 billion, a price-to-earnings ratio of 19.60, a PEG ratio of 4.04 and a beta of 0.93. The firm has a fifty day simple moving average of $40.92 and a two-hundred day simple moving average of $38.21. Enbridge Inc. has a 1 year low of $32.76 and a 1 year high of $42.61. The company has a quick ratio of 0.68, a current ratio of 0.62 and a debt-to-equity ratio of 1.41.
Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last posted its quarterly earnings results on Friday, November 1st. The pipeline company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.40 by $0.15. The firm had revenue of $10.91 billion during the quarter, compared to analysts' expectations of $4.54 billion. Enbridge had a return on equity of 9.94% and a net margin of 13.54%. During the same quarter last year, the firm earned $0.46 earnings per share. As a group, analysts anticipate that Enbridge Inc. will post 2.06 EPS for the current year.
Enbridge Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Investors of record on Friday, November 15th will be issued a $0.676 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.70 dividend on an annualized basis and a dividend yield of 6.39%. This is a positive change from Enbridge's previous quarterly dividend of $0.67. Enbridge's dividend payout ratio is currently 122.22%.
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.
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