Hexavest Inc. boosted its holdings in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 77.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 655,360 shares of the pipeline company’s stock after purchasing an additional 285,331 shares during the quarter. Hexavest Inc.’s holdings in Enbridge were worth $25,713,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also modified their holdings of the company. Capital World Investors boosted its holdings in Enbridge by 8.2% during the 2nd quarter. Capital World Investors now owns 149,378,598 shares of the pipeline company’s stock valued at $5,948,565,000 after acquiring an additional 11,294,003 shares during the period. Caisse DE Depot ET Placement DU Quebec lifted its holdings in shares of Enbridge by 0.6% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 46,491,107 shares of the pipeline company’s stock worth $1,945,188,000 after buying an additional 279,597 shares during the period. TD Asset Management Inc. lifted its holdings in shares of Enbridge by 3.4% in the 3rd quarter. TD Asset Management Inc. now owns 44,896,840 shares of the pipeline company’s stock worth $1,871,055,000 after buying an additional 1,495,767 shares during the period. Capital International Investors lifted its holdings in shares of Enbridge by 7.8% in the 3rd quarter. Capital International Investors now owns 41,164,593 shares of the pipeline company’s stock worth $1,721,048,000 after buying an additional 2,984,467 shares during the period. Finally, Vanguard Group Inc. lifted its holdings in shares of Enbridge by 4.5% in the 2nd quarter. Vanguard Group Inc. now owns 40,741,765 shares of the pipeline company’s stock worth $1,621,930,000 after buying an additional 1,758,679 shares during the period. 62.26% of the stock is currently owned by institutional investors.
Shares of Enbridge Inc (ENB) traded down $1.16 during mid-day trading on Friday, reaching $34.70. The company’s stock had a trading volume of 5,280,310 shares, compared to its average volume of 2,360,000. The stock has a market capitalization of $58,540.00, a P/E ratio of 22.10, a P/E/G ratio of 3.08 and a beta of 0.56. The company has a quick ratio of 0.50, a current ratio of 0.64 and a debt-to-equity ratio of 1.06. Enbridge Inc has a 52 week low of $34.39 and a 52 week high of $43.87.
Enbridge (NYSE:ENB) (TSE:ENB) last announced its 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 business had revenue of $9.23 billion during the quarter, compared to analysts’ expectations of $8.54 billion. During the same quarter in the prior year, the firm earned $0.47 earnings per share. equities research analysts anticipate that Enbridge Inc will post 1.51 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, March 1st. Investors of record on Thursday, February 15th will be issued a $0.5278 dividend. This represents a $2.11 annualized dividend and a dividend yield of 6.08%. The ex-dividend date is Wednesday, February 14th. This is a boost from Enbridge’s previous quarterly dividend of $0.47. Enbridge’s dividend payout ratio (DPR) is currently 122.29%.
Several research firms have recently commented on ENB. GMP Securities lowered Enbridge from a “buy” rating to a “hold” rating in a research report on Tuesday, October 17th. Zacks Investment Research lowered Enbridge from a “hold” rating to a “sell” rating in a research report on Tuesday, October 31st. Morgan Stanley reduced their target price 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. Canaccord Genuity reaffirmed a “buy” rating and set a $54.00 target price on shares of Enbridge in a research report on Thursday, November 30th. Finally, Bank of America initiated coverage on Enbridge in a report on Tuesday, January 9th. They issued a “neutral” rating on the stock. One investment 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. The stock currently has a consensus 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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