Duff & Phelps Investment Management Co. cut its stake in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 0.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,625,322 shares of the pipeline company’s stock after selling 4,385 shares during the period. Duff & Phelps Investment Management Co. owned 0.10% of Enbridge worth $68,003,000 as of its most recent SEC filing.
Several other large investors have also added to or reduced their stakes in the company. Monroe Bank & Trust MI bought a new position in Enbridge during the first quarter valued at about $105,000. NEXT Financial Group Inc lifted its stake in Enbridge by 17.7% in the 2nd quarter. NEXT Financial Group Inc now owns 2,731 shares of the pipeline company’s stock worth $109,000 after acquiring an additional 411 shares in the last quarter. First Personal Financial Services lifted its stake in Enbridge by 16.4% in the 2nd quarter. First Personal Financial Services now owns 2,825 shares of the pipeline company’s stock worth $112,000 after acquiring an additional 397 shares in the last quarter. Welch Group LLC purchased a new stake in Enbridge in the 2nd quarter worth about $121,000. Finally, San Francisco Sentry Investment Group CA purchased a new stake in Enbridge in the 2nd quarter worth about $159,000. 61.49% of the stock is owned by institutional investors.
ENB has been the subject of several research analyst reports. GMP Securities downgraded Enbridge from a “buy” rating to a “hold” rating in a research note on Tuesday, October 17th. BidaskClub raised Enbridge from a “strong sell” rating to a “sell” rating in a report on Friday, August 25th. Finally, Zacks Investment Research raised Enbridge from a “sell” rating to a “hold” rating in a report on Wednesday. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $52.33.
Enbridge Inc (ENB) opened at $36.48 on Friday. The stock has a market capitalization of $60,589.70, a price-to-earnings ratio of 23.79, a price-to-earnings-growth ratio of 2.28 and a beta of 0.65. Enbridge Inc has a 52-week low of $36.33 and a 52-week high of $44.51. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.64 and a quick ratio of 0.50.
Enbridge (NYSE:ENB) (TSE:ENB) last released its earnings results on Thursday, November 2nd. The pipeline company reported $0.39 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.03. The company had revenue of $9.23 billion during the quarter, compared to the consensus estimate of $8.54 billion. Enbridge had a return on equity of 5.62% and a net margin of 7.49%. During the same quarter in the previous year, the company posted $0.47 earnings per share. equities research analysts expect that Enbridge Inc will post 1.53 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Wednesday, November 15th will be paid a dividend of $0.474 per share. The ex-dividend date of this dividend is Tuesday, November 14th. This is a boost from Enbridge’s previous quarterly dividend of $0.33. This represents a $1.90 dividend on an annualized basis and a dividend yield of 5.20%. Enbridge’s payout ratio is 123.90%.
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Enbridge Inc is a Canada-based energy transportation and distribution company. The Company is engaged in delivering energy. It operates through five segments: Liquids Pipelines, Gas Distribution, Gas Pipelines and Processing, Green Power and Transmission, and Energy Services. Liquids Pipelines consists of common carrier and contract crude oil, natural gas liquids (NGL), and refined products pipelines and terminals, including Canadian Mainline, Lakehead Pipeline System, Mid-Continent and Gulf Coast and Regional Oil Sands System.
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