Evercore Wealth Management LLC increased its stake in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 7.6% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 28,767 shares of the pipeline company’s stock after acquiring an additional 2,024 shares during the period. Evercore Wealth Management LLC’s holdings in Enbridge were worth $929,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Honkamp Krueger Financial Services Inc. acquired a new position in Enbridge during the third quarter valued at approximately $113,000. Legacy Advisors LLC acquired a new position in Enbridge during the third quarter valued at approximately $115,000. Girard Partners LTD. acquired a new position in Enbridge during the third quarter valued at approximately $116,000. Centersquare Investment Management LLC lifted its position in Enbridge by 93.0% during the second quarter. Centersquare Investment Management LLC now owns 3,610 shares of the pipeline company’s stock valued at $129,000 after buying an additional 1,740 shares in the last quarter. Finally, Truvestments Capital LLC acquired a new position in Enbridge during the third quarter valued at approximately $137,000. 54.45% of the stock is currently owned by institutional investors and hedge funds.
In other news, insider Albert Monaco bought 7,569 shares of Enbridge stock in a transaction dated Tuesday, December 4th. The shares were acquired at an average cost of $43.82 per share, with a total value of $331,673.58. Following the completion of the transaction, the insider now owns 67,329 shares in the company, valued at approximately $2,950,356.78. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.48% of the company’s stock.
NYSE ENB opened at $31.93 on Friday. Enbridge Inc has a 52 week low of $29.00 and a 52 week high of $41.21. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.49 and a current ratio of 0.59. The firm has a market cap of $59.09 billion, a PE ratio of 13.81, a PEG ratio of 1.34 and a beta of 0.56.
Enbridge (NYSE:ENB) (TSE:ENB) last posted its earnings results on Friday, November 2nd. The pipeline company reported $0.42 EPS for the quarter, hitting analysts’ consensus estimates of $0.42. Enbridge had a net margin of 3.95% and a return on equity of 8.81%. The business had revenue of $8.68 billion for the quarter, compared to analysts’ expectations of $8.28 billion. During the same period in the previous year, the company posted $0.39 earnings per share. As a group, equities research analysts anticipate that Enbridge Inc will post 2.09 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Saturday, December 1st. Stockholders of record on Thursday, November 15th were given a dividend of $0.51 per share. The ex-dividend date of this dividend was Wednesday, November 14th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 6.39%. Enbridge’s payout ratio is currently 131.82%.
A number of research analysts have weighed in on ENB shares. Zacks Investment Research raised shares of Enbridge from a “hold” rating to a “buy” rating and set a $38.00 price target on the stock in a research report on Monday, October 8th. UBS Group started coverage on shares of Enbridge in a research report on Thursday, October 4th. They set a “buy” rating on the stock. 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. ValuEngine raised shares of Enbridge from a “sell” rating to a “hold” rating in a research report on Tuesday, October 2nd. Finally, Citigroup reaffirmed a “neutral” rating on shares of Enbridge in a research report on Monday, September 24th. Five analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $48.20.
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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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