Eliot Finkel Investment Counsel LLC acquired a new position in Enbridge Inc (NYSE:ENB) (TSE:ENB) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 49,985 shares of the pipeline company’s stock, valued at approximately $1,614,000.
Several other institutional investors have also recently modified their holdings of the company. Evercore Wealth Management LLC lifted its stake in shares of Enbridge by 7.6% in the third quarter. Evercore Wealth Management LLC now owns 28,767 shares of the pipeline company’s stock worth $929,000 after buying an additional 2,024 shares during the last quarter. First Republic Investment Management Inc. raised its stake in Enbridge by 2.0% during the 3rd quarter. First Republic Investment Management Inc. now owns 157,121 shares of the pipeline company’s stock valued at $5,073,000 after purchasing an additional 3,043 shares during the last quarter. Renaissance Technologies LLC acquired a new position in Enbridge during the 3rd quarter valued at $30,306,000. Riverhead Capital Management LLC raised its stake in Enbridge by 600.0% during the 3rd quarter. Riverhead Capital Management LLC now owns 10,500 shares of the pipeline company’s stock valued at $333,000 after purchasing an additional 9,000 shares during the last quarter. Finally, People s United Financial Inc. raised its stake in Enbridge by 54.6% during the 3rd quarter. People s United Financial Inc. now owns 9,143 shares of the pipeline company’s stock valued at $296,000 after purchasing an additional 3,230 shares during the last quarter. Institutional investors and hedge funds own 54.45% of the company’s stock.
Several equities analysts recently commented on ENB shares. ValuEngine upgraded shares of Enbridge from a “sell” rating to a “hold” rating in a research note on Tuesday, October 2nd. Zacks Investment Research cut shares of Enbridge from a “buy” rating to a “hold” rating in a research note on Tuesday, November 13th. Citigroup reiterated a “neutral” rating on shares of Enbridge in a research note on Monday, September 24th. Bank of America upgraded shares of Enbridge from a “neutral” rating to a “buy” rating and upped their target price for the company from $49.00 to $50.00 in a research note on Friday, August 17th. Finally, Wells Fargo & Co upgraded shares of Enbridge from a “market perform” rating to an “outperform” rating in a research note on Monday, November 5th. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $48.20.
NYSE:ENB opened at $32.86 on Thursday. The firm has a market cap of $60.08 billion, a P/E ratio of 21.34, a P/E/G ratio of 1.27 and a beta of 0.56. Enbridge Inc has a one year low of $29.00 and a one year high of $41.21. The company has a quick ratio of 0.49, a current ratio of 0.59 and a debt-to-equity ratio of 0.98.
Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings results on Friday, November 2nd. The pipeline company reported $0.42 earnings per share (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 8.81%. During the same quarter in the previous year, the firm posted $0.39 EPS. As a group, analysts forecast that Enbridge Inc will post 2.23 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Saturday, December 1st. Shareholders of record on Thursday, November 15th were issued a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 6.21%. The ex-dividend date of this dividend was Wednesday, November 14th. Enbridge’s dividend payout ratio (DPR) is presently 131.82%.
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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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