FinTrust Investment Advisory Services LLC bought a new position in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 13,123 shares of the pipeline company’s stock, valued at approximately $549,000.
Several other hedge funds have also modified their holdings of ENB. Monroe Bank & Trust MI bought a new position in Enbridge in the first quarter valued at $105,000. NEXT Financial Group Inc grew its stake in shares of Enbridge by 17.7% during the second quarter. NEXT Financial Group Inc now owns 2,731 shares of the pipeline company’s stock valued at $109,000 after buying an additional 411 shares during the last quarter. First Personal Financial Services grew its stake in shares of Enbridge by 16.4% during the second quarter. First Personal Financial Services now owns 2,825 shares of the pipeline company’s stock valued at $112,000 after buying an additional 397 shares during the last quarter. Welch Group LLC bought a new position in shares of Enbridge during the second quarter valued at about $121,000. Finally, San Francisco Sentry Investment Group CA bought a new position in shares of Enbridge during the second quarter valued at about $159,000. Institutional investors own 60.67% of the company’s stock.
Shares of Enbridge Inc (ENB) traded down $0.26 during mid-day trading on Tuesday, hitting $36.22. 2,393,900 shares of the stock were exchanged, compared to its average volume of 4,094,515. Enbridge Inc has a 12-month low of $36.00 and a 12-month high of $44.51. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.50 and a current ratio of 0.64. The company has a market cap of $59,920.00, a P/E ratio of 23.69, a price-to-earnings-growth ratio of 2.27 and a beta of 0.64.
Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings results on Thursday, November 2nd. The pipeline company reported $0.39 EPS for the quarter, topping the consensus estimate of $0.36 by $0.03. The business had revenue of $9.23 billion for the quarter, compared to analysts’ expectations of $8.54 billion. Enbridge had a net margin of 7.49% and a return on equity of 5.62%. During the same quarter in the previous year, the company earned $0.47 EPS. sell-side analysts expect that Enbridge Inc will post 1.53 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Wednesday, November 15th will be paid a $0.474 dividend. The ex-dividend date of this dividend is Tuesday, November 14th. This represents a $1.90 annualized dividend and a yield of 5.23%. This is a boost from Enbridge’s previous quarterly dividend of $0.33. Enbridge’s payout ratio is presently 127.92%.
A number of research firms have recently weighed in on ENB. BidaskClub upgraded shares of Enbridge from a “strong sell” rating to a “sell” rating in a report on Friday, August 25th. GMP Securities lowered shares of Enbridge from a “buy” rating to a “hold” rating in a report on Tuesday, October 17th. Finally, Zacks Investment Research lowered shares of Enbridge from a “hold” rating to a “sell” rating in a report on Tuesday, October 31st. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $52.33.
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Enbridge Company Profile
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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