Fmr LLC lowered its holdings in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 81.1% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,794,646 shares of the pipeline company’s stock after selling 11,983,556 shares during the period. Fmr LLC owned about 0.16% of Enbridge worth $99,911,000 as of its most recent filing with the SEC.
Several other institutional investors have also bought and sold shares of ENB. Welch Group LLC acquired a new position in shares of Enbridge during the 2nd quarter worth $109,000. Spectrum Management Group Inc. acquired a new position in shares of Enbridge during the 2nd quarter worth $119,000. Centersquare Investment Management LLC raised its holdings in shares of Enbridge by 93.0% during the 2nd quarter. Centersquare Investment Management LLC now owns 3,610 shares of the pipeline company’s stock worth $129,000 after buying an additional 1,740 shares in the last quarter. Arcadia Investment Management Corp MI raised its holdings in shares of Enbridge by 81.4% during the 2nd quarter. Arcadia Investment Management Corp MI now owns 4,457 shares of the pipeline company’s stock worth $159,000 after buying an additional 2,000 shares in the last quarter. Finally, Centaurus Financial Inc. acquired a new position in shares of Enbridge during the 2nd quarter worth $191,000. 58.28% of the stock is owned by institutional investors.
Shares of ENB opened at $32.83 on Friday. Enbridge Inc has a 12-month low of $29.00 and a 12-month high of $41.21. The company has a quick ratio of 0.47, a current ratio of 0.59 and a debt-to-equity ratio of 0.98. The stock has a market capitalization of $57.20 billion, a price-to-earnings ratio of 21.32, a PEG ratio of 1.37 and a beta of 0.53.
Enbridge (NYSE:ENB) (TSE:ENB) last issued its earnings results on Friday, November 2nd. The pipeline company reported $0.42 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.42. Enbridge had a return on equity of 8.81% and a net margin of 3.95%. The business had revenue of $8.68 billion during the quarter, compared to analysts’ expectations of $8.28 billion. During the same quarter in the prior year, the firm earned $0.39 EPS. As a group, research analysts forecast that Enbridge Inc will post 2.09 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Saturday, December 1st. Shareholders of record on Thursday, November 15th will be issued a $0.51 dividend. The ex-dividend date of this dividend is Wednesday, November 14th. This represents a $2.04 dividend on an annualized basis and a yield of 6.21%. Enbridge’s payout ratio is presently 132.47%.
A number of equities analysts have issued reports on the company. ValuEngine cut Enbridge from a “hold” rating to a “sell” rating in a report on Thursday, August 2nd. Bank of America raised Enbridge from a “neutral” rating to a “buy” rating and upped their target price for the stock from $49.00 to $50.00 in a report on Friday, August 17th. Wells Fargo & Co raised Enbridge from a “market perform” rating to an “outperform” rating in a report on Monday, November 5th. UBS Group assumed coverage on Enbridge in a report on Thursday, October 4th. They issued a “buy” rating for the company. Finally, Citigroup reaffirmed a “neutral” rating on shares of Enbridge in a report on Monday, September 24th. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $49.17.
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Enbridge Company Profile
Enbridge Inc operates as an energy infrastructure company in Canada and the United States. The company operates in five segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution, Green Power and Transmission, and Energy Services. The Liquids Pipelines segment operates common carrier and contract crude oil, natural gas liquids (NGL), and refined products pipelines and terminals.
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