Hexavest Inc. boosted its holdings in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 77.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 655,360 shares of the pipeline company’s stock after acquiring an additional 285,331 shares during the period. Hexavest Inc.’s holdings in Enbridge were worth $25,713,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also modified their holdings of ENB. Capital World Investors lifted its holdings in Enbridge by 8.2% in the second quarter. Capital World Investors now owns 149,378,598 shares of the pipeline company’s stock worth $5,948,565,000 after acquiring an additional 11,294,003 shares during the last quarter. Capital International Investors lifted its holdings in Enbridge by 7.8% in the third quarter. Capital International Investors now owns 41,164,593 shares of the pipeline company’s stock worth $1,721,048,000 after acquiring an additional 2,984,467 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Enbridge by 4.5% in the second quarter. Vanguard Group Inc. now owns 40,741,765 shares of the pipeline company’s stock worth $1,621,930,000 after acquiring an additional 1,758,679 shares during the last quarter. TD Asset Management Inc. lifted its holdings in Enbridge by 3.4% in the third quarter. TD Asset Management Inc. now owns 44,896,840 shares of the pipeline company’s stock worth $1,871,055,000 after acquiring an additional 1,495,767 shares during the last quarter. Finally, CIBC Asset Management Inc lifted its holdings in Enbridge by 8.2% in the third quarter. CIBC Asset Management Inc now owns 19,704,020 shares of the pipeline company’s stock worth $820,883,000 after acquiring an additional 1,484,999 shares during the last quarter. 62.14% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities analysts have issued reports on ENB shares. GMP Securities cut shares of Enbridge from a “buy” rating to a “hold” rating in a report on Tuesday, October 17th. Zacks Investment Research cut shares of Enbridge from a “hold” rating to a “sell” rating in a report on Tuesday, October 31st. Morgan Stanley cut their target price on shares of Enbridge from $43.00 to $41.00 and set an “equal weight” rating on the stock in a report on Friday, November 17th. Canaccord Genuity reaffirmed a “buy” rating and set a $54.00 price target on shares of Enbridge in a report on Thursday, November 30th. Finally, Bank of America began coverage on Enbridge in a report on Tuesday. They set a “neutral” rating on the stock. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company. Enbridge has a consensus rating of “Hold” and an average target price of $52.00.
Shares of Enbridge Inc (ENB) opened at $39.74 on Friday. The firm has a market capitalization of $65,302.61, a P/E ratio of 24.99, a PEG ratio of 2.83 and a beta of 0.64. The company has a current ratio of 0.64, a quick ratio of 0.50 and a debt-to-equity ratio of 1.06. Enbridge Inc has a twelve month low of $34.39 and a twelve month high of $44.51.
Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings results on Thursday, November 2nd. The pipeline company reported $0.39 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.36 by $0.03. The company had revenue of $9.23 billion for the quarter, compared to analysts’ expectations 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. sell-side analysts forecast that Enbridge Inc will post 1.54 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 1st. Stockholders of record on Thursday, February 15th will be issued a dividend of $0.5278 per share. This represents a $2.11 dividend on an annualized basis and a dividend yield of 5.31%. The ex-dividend date of this dividend is Wednesday, February 14th. This is a boost from Enbridge’s previous quarterly dividend of $0.47. Enbridge’s payout ratio is 120.76%.
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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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