QCI Asset Management Inc. NY lifted its stake in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 0.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 639,736 shares of the pipeline company’s stock after purchasing an additional 5,790 shares during the quarter. Enbridge accounts for approximately 2.0% of QCI Asset Management Inc. NY’s holdings, making the stock its 11th biggest position. QCI Asset Management Inc. NY’s holdings in Enbridge were worth $20,657,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently bought and sold shares of the company. Flagship Harbor Advisors LLC increased its holdings in Enbridge by 258.7% in the 3rd quarter. Flagship Harbor Advisors LLC now owns 9,044 shares of the pipeline company’s stock worth $300,000 after buying an additional 6,523 shares in the last quarter. ProVise Management Group LLC increased its holdings in Enbridge by 2.4% in the 3rd quarter. ProVise Management Group LLC now owns 190,152 shares of the pipeline company’s stock worth $6,140,000 after buying an additional 4,520 shares in the last quarter. Janney Montgomery Scott LLC increased its holdings in Enbridge by 11.9% in the 3rd quarter. Janney Montgomery Scott LLC now owns 413,276 shares of the pipeline company’s stock worth $13,345,000 after buying an additional 44,052 shares in the last quarter. Mn Services Vermogensbeheer B.V. increased its holdings in Enbridge by 2.2% in the 3rd quarter. Mn Services Vermogensbeheer B.V. now owns 273,535 shares of the pipeline company’s stock worth $11,401,000 after buying an additional 5,800 shares in the last quarter. Finally, Virginia Retirement Systems ET AL increased its holdings in Enbridge by 61.5% in the 3rd quarter. Virginia Retirement Systems ET AL now owns 35,200 shares of the pipeline company’s stock worth $1,135,000 after buying an additional 13,400 shares in the last quarter. 58.28% of the stock is owned by hedge funds and other institutional investors.
Several research firms recently commented on ENB. Morgan Stanley lifted their price objective on Enbridge from $34.00 to $37.00 and gave the stock an “equal weight” rating in a report on Friday, July 13th. ValuEngine downgraded Enbridge from a “hold” rating to a “sell” rating in a report on Thursday, August 2nd. Bank of America upgraded Enbridge from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $49.00 to $50.00 in a report on Friday, August 17th. Citigroup reiterated a “neutral” rating on shares of Enbridge in a report on Monday, September 24th. Finally, Zacks Investment Research upgraded Enbridge from a “hold” rating to a “buy” rating and set a $38.00 price objective for the company in a report on Monday, October 8th. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $49.17.
NYSE ENB opened at $32.83 on Friday. Enbridge Inc has a one year low of $29.00 and a one year high of $41.21. The stock has a market capitalization of $57.20 billion, a P/E ratio of 21.32, a price-to-earnings-growth ratio of 1.37 and a beta of 0.53. The company has a quick ratio of 0.47, a current ratio of 0.59 and a debt-to-equity ratio of 0.98.
Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings results on Friday, November 2nd. The pipeline company reported $0.42 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.42. The business had revenue of $8.68 billion during the quarter, compared to the consensus estimate of $8.28 billion. Enbridge had a return on equity of 8.81% and a net margin of 3.95%. During the same period in the previous year, the company posted $0.39 EPS. On average, sell-side analysts expect that Enbridge Inc will post 2.09 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Saturday, December 1st. Shareholders of record on Thursday, November 15th will be paid a dividend of $0.51 per share. The ex-dividend date of this dividend is Wednesday, November 14th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 6.21%. Enbridge’s dividend payout ratio is currently 132.47%.
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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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