World Investment Advisors LLC cut its stake in shares of Enbridge Inc. (NYSE:ENB - Free Report) TSE: ENB by 36.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 21,373 shares of the pipeline company's stock after selling 12,501 shares during the period. World Investment Advisors LLC's holdings in Enbridge were worth $868,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Sanctuary Advisors LLC raised its position in shares of Enbridge by 7.4% in the third quarter. Sanctuary Advisors LLC now owns 175,166 shares of the pipeline company's stock worth $7,578,000 after buying an additional 12,084 shares in the last quarter. Anchor Investment Management LLC raised its stake in shares of Enbridge by 0.5% during the third quarter. Anchor Investment Management LLC now owns 123,012 shares of the pipeline company's stock worth $4,996,000 after acquiring an additional 581 shares in the last quarter. Passumpsic Savings Bank raised its stake in shares of Enbridge by 2.4% during the third quarter. Passumpsic Savings Bank now owns 11,575 shares of the pipeline company's stock worth $470,000 after acquiring an additional 276 shares in the last quarter. McIlrath & Eck LLC lifted its holdings in shares of Enbridge by 74.9% in the 3rd quarter. McIlrath & Eck LLC now owns 689 shares of the pipeline company's stock worth $28,000 after acquiring an additional 295 shares during the last quarter. Finally, Soltis Investment Advisors LLC grew its holdings in shares of Enbridge by 3.4% during the 3rd quarter. Soltis Investment Advisors LLC now owns 179,301 shares of the pipeline company's stock valued at $7,281,000 after purchasing an additional 5,902 shares during the last quarter. 54.60% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of equities analysts have commented on the company. Morgan Stanley began coverage on Enbridge in a research note on Friday, October 25th. They issued an "equal weight" rating on the stock. 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. Jefferies Financial Group cut shares of Enbridge from a "buy" rating to a "hold" rating in a research report on Monday, September 30th. Finally, Wells Fargo & Company raised Enbridge from an "underweight" rating to an "equal weight" rating in a research note on Wednesday, November 6th. Four equities research 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 has a consensus rating of "Hold" and an average target price of $63.00.
Check Out Our Latest Stock Analysis on Enbridge
Enbridge Stock Performance
NYSE:ENB traded down $0.34 during mid-day trading on Monday, reaching $41.57. The company's stock had a trading volume of 3,379,035 shares, compared to its average volume of 4,864,709. The firm's fifty day moving average price is $42.02 and its two-hundred day moving average price is $39.34. The company has a current ratio of 0.62, a quick ratio of 0.54 and a debt-to-equity ratio of 1.41. The stock has a market cap of $90.53 billion, a P/E ratio of 19.40, a PEG ratio of 4.18 and a beta of 0.94. Enbridge Inc. has a 12-month low of $32.85 and a 12-month high of $44.13.
Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last posted 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. The company 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 in the prior year, the business earned $0.46 earnings per share. On average, equities analysts forecast that Enbridge Inc. will post 2.03 EPS for the current fiscal year.
Enbridge Cuts Dividend
The firm also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Saturday, February 15th will be given a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a dividend yield of 6.45%. The ex-dividend date is Friday, February 14th. Enbridge's dividend payout ratio is currently 124.07%.
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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