Nexus Investment Management Inc. increased its holdings in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 5.5% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 298,338 shares of the pipeline company’s stock after buying an additional 15,550 shares during the period. Enbridge comprises approximately 1.7% of Nexus Investment Management Inc.’s investment portfolio, making the stock its 24th biggest holding. Nexus Investment Management Inc.’s holdings in Enbridge were worth $11,717,000 as of its most recent SEC filing.
A number of other large investors have also modified their holdings of the stock. Beach Investment Management LLC. lifted its position in Enbridge by 676.4% during the second quarter. Beach Investment Management LLC. now owns 196,038 shares of the pipeline company’s stock valued at $7,804,000 after purchasing an additional 170,789 shares during the period. Marshall Wace North America L.P. acquired a new position in Enbridge during the second quarter valued at $305,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in Enbridge by 0.3% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 6,663 shares of the pipeline company’s stock valued at $265,000 after purchasing an additional 22 shares during the period. Alliancebernstein L.P. lifted its position in Enbridge by 10.8% during the second quarter. Alliancebernstein L.P. now owns 181,169 shares of the pipeline company’s stock valued at $7,212,000 after purchasing an additional 17,731 shares during the period. Finally, Raymond James Trust N.A. lifted its position in Enbridge by 14.8% during the second quarter. Raymond James Trust N.A. now owns 39,964 shares of the pipeline company’s stock valued at $1,591,000 after purchasing an additional 5,153 shares during the period. 62.26% of the stock is owned by institutional investors.
Shares of Enbridge Inc (ENB) opened at $34.70 on Friday. Enbridge Inc has a one year low of $34.39 and a one year high of $43.87. The company has a quick ratio of 0.50, a current ratio of 0.64 and a debt-to-equity ratio of 1.06. The firm has a market cap of $58,550.00, a P/E ratio of 21.82, a PEG ratio of 3.25 and a beta of 0.56.
Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings results on Thursday, November 2nd. The pipeline company reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.03. The business had revenue of $9.23 billion during the quarter, compared to analysts’ expectations of $8.54 billion. Enbridge had a net margin of 7.49% and a return on equity of 5.62%. During the same quarter in the prior year, the company posted $0.47 EPS. sell-side analysts forecast that Enbridge Inc will post 1.51 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 1st. Investors of record on Thursday, February 15th will be given a dividend of $0.5278 per share. The ex-dividend date of this dividend is Wednesday, February 14th. This represents a $2.11 dividend on an annualized basis and a dividend yield of 6.08%. This is a boost from Enbridge’s previous quarterly dividend of $0.47. Enbridge’s dividend payout ratio (DPR) is presently 120.75%.
A number of research analysts have weighed in on the stock. GMP Securities downgraded shares of Enbridge from a “buy” rating to a “hold” rating in a research report on Tuesday, October 17th. Bank of America assumed coverage on shares of Enbridge in a research report on Tuesday, January 9th. They issued a “neutral” rating for the company. Zacks Investment Research downgraded shares of Enbridge from a “hold” rating to a “sell” rating in a research report on Tuesday, October 31st. Canaccord Genuity restated a “buy” rating and set a $54.00 price target on shares of Enbridge in a research report on Thursday, November 30th. Finally, Morgan Stanley reduced their price target on shares of Enbridge from $43.00 to $41.00 and set an “equal weight” rating for the company in a research report on Friday, November 17th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $52.00.
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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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