Stockman Wealth Management Inc. bought a new position in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) during the 3rd quarter, Holdings Channel reports. The fund bought 11,250 shares of the pipeline company’s stock, valued at approximately $363,000.
Several other institutional investors also recently modified their holdings of ENB. Toronto Dominion Bank boosted its holdings in shares of Enbridge by 123.0% during the 2nd quarter. Toronto Dominion Bank now owns 9,644,840 shares of the pipeline company’s stock worth $347,031,000 after purchasing an additional 5,319,398 shares during the last quarter. Fiera Capital Corp boosted its holdings in shares of Enbridge by 165.9% during the 2nd quarter. Fiera Capital Corp now owns 5,405,278 shares of the pipeline company’s stock worth $193,266,000 after purchasing an additional 3,372,119 shares during the last quarter. Addenda Capital Inc. acquired a new position in shares of Enbridge during the 2nd quarter worth approximately $100,454,000. Tortoise Capital Advisors L.L.C. boosted its holdings in shares of Enbridge by 23.6% during the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 6,757,583 shares of the pipeline company’s stock worth $241,178,000 after purchasing an additional 1,291,797 shares during the last quarter. Finally, Mainstay Capital Management LLC ADV boosted its holdings in shares of Enbridge by 84,382.1% during the 2nd quarter. Mainstay Capital Management LLC ADV now owns 1,086,440 shares of the pipeline company’s stock worth $30,675,000 after purchasing an additional 1,085,154 shares during the last quarter. Institutional investors and hedge funds own 58.28% of the company’s stock.
Several research analysts have recently weighed in on ENB shares. ValuEngine upgraded Enbridge from a “sell” rating to a “hold” rating in a report on Tuesday, October 2nd. Morgan Stanley boosted their target price on Enbridge from $34.00 to $37.00 and gave the stock an “equal weight” rating in a report on Friday, July 13th. Citigroup restated a “neutral” rating on shares of Enbridge in a report on Monday, September 24th. Bank of America raised shares of Enbridge from a “neutral” rating to a “buy” rating and lifted their price target for the company from $49.00 to $50.00 in a research report on Friday, August 17th. Finally, Wells Fargo & Co raised shares of Enbridge from a “market perform” rating to an “outperform” rating in a research report on Monday. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $49.17.
ENB stock opened at $32.88 on Tuesday. The company has a market cap of $54.18 billion, a PE ratio of 21.35, a PEG ratio of 1.19 and a beta of 0.53. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.47 and a current ratio of 0.56. Enbridge Inc has a one year low of $29.00 and a one year high of $41.21.
Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings results on Friday, November 2nd. The pipeline company reported $0.42 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.42. The firm had revenue of $8.68 billion for the quarter, compared to analyst estimates of $8.28 billion. Enbridge had a net margin of 3.95% and a return on equity of 8.80%. During the same quarter in the previous year, the company earned $0.39 EPS. Analysts forecast that Enbridge Inc will post 2.22 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Saturday, December 1st. Stockholders of record on Thursday, November 15th will be given a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 6.20%. The ex-dividend date is Wednesday, November 14th. Enbridge’s payout ratio is presently 132.47%.
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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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