Addenda Capital Inc. trimmed its position in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 5.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,511,887 shares of the pipeline company’s stock after selling 81,120 shares during the period. Enbridge makes up approximately 4.1% of Addenda Capital Inc.’s holdings, making the stock its 5th biggest holding. Addenda Capital Inc. owned approximately 0.09% of Enbridge worth $59,322,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently modified their holdings of ENB. Spectrum Management Group Inc. bought a new position in Enbridge in the 3rd quarter valued at $113,000. Fieldpoint Private Securities LLC bought a new position in Enbridge in the 3rd quarter valued at $130,000. Valeo Financial Advisors LLC bought a new position in Enbridge in the 3rd quarter valued at $146,000. Patten Group Inc. grew its position in Enbridge by 333.2% in the 3rd quarter. Patten Group Inc. now owns 15,752 shares of the pipeline company’s stock valued at $152,000 after acquiring an additional 12,116 shares during the last quarter. Finally, San Francisco Sentry Investment Group CA bought a new position in Enbridge in the 2nd quarter valued at $159,000. 62.26% of the stock is currently owned by institutional investors and hedge funds.
Shares of Enbridge Inc (NYSE ENB) traded down $1.16 during midday trading on Friday, hitting $34.70. The company had a trading volume of 5,274,459 shares, compared to its average volume of 2,260,000. 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 stock has a market cap of $58,540.00, a PE ratio of 22.10, a P/E/G ratio of 3.19 and a beta of 0.56. Enbridge Inc has a 1 year low of $34.39 and a 1 year high of $43.87.
Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings results on Thursday, November 2nd. The pipeline company reported $0.39 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.03. Enbridge had a return on equity of 5.62% and a net margin of 7.49%. The company had revenue of $9.23 billion during the quarter, compared to analysts’ expectations of $8.54 billion. During the same period last year, the business posted $0.47 earnings per share. analysts predict that Enbridge Inc will post 1.51 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 1st. Shareholders of record on Thursday, February 15th will be paid a $0.5278 dividend. The ex-dividend date is Wednesday, February 14th. This is a boost from Enbridge’s previous quarterly dividend of $0.47. This represents a $2.11 dividend on an annualized basis and a yield of 6.08%. Enbridge’s dividend payout ratio (DPR) is 122.29%.
Several brokerages have commented on ENB. GMP Securities downgraded Enbridge from a “buy” rating to a “hold” rating in a research report on Tuesday, October 17th. Bank of America initiated coverage on Enbridge in a research report on Tuesday, January 9th. They set a “neutral” rating on the stock. Zacks Investment Research downgraded Enbridge from a “hold” rating to a “sell” rating in a research report on Tuesday, October 31st. Canaccord Genuity reissued 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 dropped their price target on Enbridge from $43.00 to $41.00 and set an “equal weight” rating on the stock in a research report on Friday, November 17th. One 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 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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