Alliancebernstein L.P. raised its stake in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 12.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 357,348 shares of the pipeline company’s stock after buying an additional 38,827 shares during the quarter. Alliancebernstein L.P.’s holdings in Enbridge were worth $11,539,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of the company. Sigma Planning Corp boosted its holdings in Enbridge by 37.2% in the second quarter. Sigma Planning Corp now owns 23,088 shares of the pipeline company’s stock valued at $824,000 after purchasing an additional 6,262 shares during the last quarter. Jennison Associates LLC purchased a new stake in Enbridge in the second quarter valued at $6,124,000. Virginia Retirement Systems ET AL purchased a new stake in Enbridge in the second quarter valued at $779,000. Sei Investments Co. boosted its holdings in Enbridge by 25.3% in the second quarter. Sei Investments Co. now owns 290,891 shares of the pipeline company’s stock valued at $10,382,000 after purchasing an additional 58,650 shares during the last quarter. Finally, Nicola Wealth Management LTD. boosted its holdings in Enbridge by 7.7% in the second quarter. Nicola Wealth Management LTD. now owns 266,500 shares of the pipeline company’s stock valued at $12,526,000 after purchasing an additional 19,000 shares during the last quarter. Institutional investors own 54.45% of the company’s stock.
Several equities research analysts have commented on the stock. Zacks Investment Research raised shares of Enbridge from a “hold” rating to a “buy” rating and set a $38.00 price target on the stock in a report on Monday, October 8th. UBS Group assumed coverage on shares of Enbridge in a report on Thursday, October 4th. They issued a “buy” rating on the stock. Wells Fargo & Co raised shares of Enbridge from a “market perform” rating to an “outperform” rating in a report on Monday, November 5th. Bank of America raised shares of Enbridge from a “neutral” rating to a “buy” rating and upped their price target for the company from $49.00 to $50.00 in a report on Friday, August 17th. Finally, Citigroup reaffirmed a “neutral” rating on shares of Enbridge in a report on Monday, September 24th. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Enbridge has a consensus rating of “Buy” and a consensus price target of $48.20.
In other news, insider Albert Monaco acquired 7,569 shares of the firm’s stock in a transaction on Tuesday, December 4th. The stock was acquired at an average price of $43.82 per share, for a total transaction of $331,673.58. Following the completion of the transaction, the insider now owns 67,329 shares in the company, valued at approximately $2,950,356.78. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.48% of the company’s stock.
Shares of Enbridge stock opened at $31.93 on Friday. The stock has a market capitalization of $60.08 billion, a price-to-earnings ratio of 20.73, a PEG ratio of 1.36 and a beta of 0.56. Enbridge Inc has a fifty-two week low of $29.00 and a fifty-two week high of $41.21. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.59 and a quick ratio of 0.49.
Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings data on Friday, November 2nd. The pipeline company reported $0.42 earnings per share for the quarter, hitting analysts’ consensus estimates 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 net margin of 3.95% and a return on equity of 8.81%. During the same quarter in the prior year, the firm posted $0.39 earnings per share. On average, sell-side analysts predict that Enbridge Inc will post 2.09 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Saturday, December 1st. Shareholders of record on Thursday, November 15th were given a $0.51 dividend. The ex-dividend date was Wednesday, November 14th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 6.39%. Enbridge’s dividend payout ratio (DPR) is currently 131.82%.
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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