Mn Services Vermogensbeheer B.V. lifted its stake in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 2.2% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 273,535 shares of the pipeline company’s stock after purchasing an additional 5,800 shares during the quarter. Mn Services Vermogensbeheer B.V.’s holdings in Enbridge were worth $11,401,000 at the end of the most recent reporting period.
Other large investors also recently made changes to their positions in the company. Centaurus Financial Inc. acquired a new position in shares of Enbridge during the second quarter worth $191,000. Home Federal Bank of Tennessee acquired a new position in shares of Enbridge during the second quarter worth $2,244,000. Nexus Investment Management Inc. increased its holdings in shares of Enbridge by 4.9% during the third quarter. Nexus Investment Management Inc. now owns 412,388 shares of the pipeline company’s stock worth $13,297,000 after buying an additional 19,200 shares in the last quarter. Highlander Capital Management LLC increased its holdings in shares of Enbridge by 8.5% during the second quarter. Highlander Capital Management LLC now owns 29,661 shares of the pipeline company’s stock worth $1,059,000 after buying an additional 2,314 shares in the last quarter. Finally, Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp increased its holdings in shares of Enbridge by 15.7% during the second quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 1,662,200 shares of the pipeline company’s stock worth $78,123,000 after buying an additional 225,600 shares in the last quarter. Institutional investors own 58.28% of the company’s stock.
Shares of Enbridge stock opened at $32.32 on Tuesday. The company has a current ratio of 0.56, a quick ratio of 0.47 and a debt-to-equity ratio of 0.99. Enbridge Inc has a twelve month low of $29.00 and a twelve month high of $41.21. The firm has a market capitalization of $54.18 billion, a P/E ratio of 20.99, a price-to-earnings-growth ratio of 1.19 and a beta of 0.53.
Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings data on Friday, November 2nd. The pipeline company reported $0.42 earnings per share for the quarter, hitting the consensus estimate of $0.42. Enbridge had a net margin of 3.95% and a return on equity of 8.80%. The company had revenue of $8.68 billion for the quarter, compared to analysts’ expectations of $8.28 billion. During the same quarter in the previous year, the firm posted $0.39 earnings per share. As a group, sell-side analysts predict that Enbridge Inc will post 2.22 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, December 1st. Investors of record on Thursday, November 15th will be paid a $0.51 dividend. The ex-dividend date is Wednesday, November 14th. This represents a $2.04 annualized dividend and a dividend yield of 6.31%. Enbridge’s dividend payout ratio is 132.47%.
Several research analysts have recently issued reports on ENB shares. Zacks Investment Research upgraded shares of Enbridge from a “hold” rating to a “buy” rating and set a $38.00 price target for the company in a report on Monday, October 8th. UBS Group initiated coverage on shares of Enbridge in a report on Thursday, October 4th. They set a “buy” rating for the company. Bank of America raised shares of Enbridge from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $49.00 to $50.00 in a research note on Friday, August 17th. Morgan Stanley boosted their price objective on shares of Enbridge from $34.00 to $37.00 and gave the stock an “equal weight” rating in a research note on Friday, July 13th. Finally, ValuEngine raised shares of Enbridge from a “sell” rating to a “hold” rating in a research note on Tuesday, October 2nd. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $49.17.
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Enbridge Inc operates as an energy infrastructure company in Canada and the United States. The company operates in five segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution, Green Power and Transmission, and Energy Services. The Liquids Pipelines segment operates common carrier and contract crude oil, natural gas liquids (NGL), and refined products pipelines and terminals.
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