Keybank National Association OH cut its stake in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 6.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 76,515 shares of the pipeline company’s stock after selling 5,250 shares during the period. Keybank National Association OH’s holdings in Enbridge were worth $2,684,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Bank of Nova Scotia Trust Co. increased its position in shares of Enbridge by 12.5% during the second quarter. Bank of Nova Scotia Trust Co. now owns 625,148 shares of the pipeline company’s stock valued at $22,555,000 after buying an additional 69,399 shares during the period. NEXT Financial Group Inc increased its position in shares of Enbridge by 67.6% during the second quarter. NEXT Financial Group Inc now owns 25,215 shares of the pipeline company’s stock valued at $910,000 after buying an additional 10,170 shares during the period. National Pension Service bought a new stake in shares of Enbridge during the second quarter valued at about $98,372,000. Lee Financial Group Hawaii Inc. bought a new stake in shares of Enbridge during the second quarter valued at about $784,000. Finally, Synovus Financial Corp increased its position in shares of Enbridge by 3.7% during the third quarter. Synovus Financial Corp now owns 286,618 shares of the pipeline company’s stock valued at $10,068,000 after buying an additional 10,328 shares during the period. Hedge funds and other institutional investors own 54.21% of the company’s stock.
Several brokerages have recently weighed in on ENB. US Capital Advisors reiterated an “overweight” rating on shares of Enbridge in a research report on Friday, October 25th. CIBC decreased their price objective on shares of Enbridge from $57.00 to $56.00 in a research report on Wednesday, October 23rd. Scotiabank upgraded shares of Enbridge from a “sector perform” rating to an “outperform” rating in a research report on Thursday, October 10th. Barclays cut shares of Enbridge from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $52.00 to $51.00 in a research report on Tuesday, October 15th. Finally, Goldman Sachs Group began coverage on shares of Enbridge in a research report on Thursday, July 18th. They issued a “neutral” rating on the stock. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $45.68.
Shares of ENB stock traded up $0.74 during trading on Friday, hitting $37.47. The company had a trading volume of 5,499,096 shares, compared to its average volume of 3,344,608. The company has a quick ratio of 0.53, a current ratio of 0.63 and a debt-to-equity ratio of 0.92. The stock’s 50-day moving average is $35.89 and its two-hundred day moving average is $35.48. The stock has a market capitalization of $74.72 billion, a price-to-earnings ratio of 18.28, a price-to-earnings-growth ratio of 2.80 and a beta of 0.58. Enbridge Inc has a 52 week low of $28.82 and a 52 week high of $38.04.
Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings data on Friday, November 8th. The pipeline company reported $0.42 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.42. The company had revenue of $8.79 billion for the quarter, compared to analysts’ expectations of $11.65 billion. Enbridge had a net margin of 9.97% and a return on equity of 8.16%. During the same period in the prior year, the business earned $0.55 earnings per share. On average, research analysts predict that Enbridge Inc will post 2.06 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Investors of record on Friday, November 15th will be given a $0.561 dividend. This represents a $2.24 annualized dividend and a dividend yield of 5.99%. This is a boost from Enbridge’s previous quarterly dividend of $0.56. The ex-dividend date of this dividend is Thursday, November 14th. Enbridge’s dividend payout ratio is 107.80%.
Enbridge Company Profile
Enbridge Inc operates as an energy infrastructure company in Canada and the United States. The company operates through 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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