Wilmington Savings Fund Society FSB purchased a new position in shares of Enbridge Inc. (NYSE:ENB - Free Report) TSE: ENB during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 29,947 shares of the pipeline company's stock, valued at approximately $1,216,000.
Other hedge funds also recently bought and sold shares of the company. Richardson Financial Services Inc. lifted its position in shares of Enbridge by 28.4% in the third quarter. Richardson Financial Services Inc. now owns 1,112 shares of the pipeline company's stock valued at $45,000 after acquiring an additional 246 shares in the last quarter. Associated Banc Corp grew its stake in shares of Enbridge by 3.6% in the third quarter. Associated Banc Corp now owns 7,091 shares of the pipeline company's stock valued at $288,000 after buying an additional 248 shares in the last quarter. Hobbs Group Advisors LLC grew its stake in shares of Enbridge by 15.1% in the third quarter. Hobbs Group Advisors LLC now owns 1,897 shares of the pipeline company's stock valued at $77,000 after buying an additional 249 shares in the last quarter. Centaurus Financial Inc. grew its stake in shares of Enbridge by 1.7% in the third quarter. Centaurus Financial Inc. now owns 14,980 shares of the pipeline company's stock valued at $608,000 after buying an additional 256 shares in the last quarter. Finally, First PREMIER Bank increased its holdings in Enbridge by 1.7% during the 3rd quarter. First PREMIER Bank now owns 15,534 shares of the pipeline company's stock worth $631,000 after purchasing an additional 257 shares during the period. Hedge funds and other institutional investors own 54.60% of the company's stock.
Enbridge Trading Down 0.3 %
Enbridge stock traded down $0.14 during midday trading on Friday, reaching $41.91. The stock had a trading volume of 2,346,253 shares, compared to its average volume of 4,870,875. Enbridge Inc. has a twelve month low of $32.85 and a twelve month high of $44.13. The stock has a market capitalization of $91.28 billion, a PE ratio of 19.40, a price-to-earnings-growth ratio of 4.18 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. The stock's 50-day simple moving average is $42.02 and its 200 day simple moving average is $39.32.
Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last released its quarterly earnings data on Friday, November 1st. The pipeline company reported $0.55 EPS 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 company had revenue of $10.91 billion for the quarter, compared to analyst estimates of $4.54 billion. During the same period last year, the company posted $0.46 earnings per share. Analysts expect 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. Shareholders of record on Saturday, February 15th will be paid a $0.67 dividend. The ex-dividend date is Friday, February 14th. This represents a $2.68 dividend on an annualized basis and a yield of 6.39%. Enbridge's payout ratio is currently 121.76%.
Wall Street Analysts Forecast Growth
Several research analysts have recently issued reports on the company. Royal Bank of Canada reaffirmed an "outperform" rating and set a $63.00 price objective (up from $59.00) on shares of Enbridge in a research report on Wednesday, December 4th. Morgan Stanley assumed coverage on Enbridge in a research note on Friday, October 25th. They set an "equal weight" rating for the company. Wells Fargo & Company raised Enbridge from an "underweight" rating to an "equal weight" rating in a research note on Wednesday, November 6th. Finally, Jefferies Financial Group downgraded Enbridge from a "buy" rating to a "hold" rating in a research note on Monday, September 30th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $63.00.
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About Enbridge
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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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