AMP Capital Investors Ltd boosted its stake in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 1.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,747,062 shares of the pipeline company’s stock after purchasing an additional 76,020 shares during the quarter. Enbridge comprises about 1.1% of AMP Capital Investors Ltd’s investment portfolio, making the stock its 7th largest holding. AMP Capital Investors Ltd owned about 0.29% of Enbridge worth $197,831,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Allianz Asset Management GmbH boosted its holdings in shares of Enbridge by 50.3% during the 3rd quarter. Allianz Asset Management GmbH now owns 360,457 shares of the pipeline company’s stock valued at $15,021,000 after acquiring an additional 120,678 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec boosted its holdings in shares of Enbridge by 0.6% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 46,491,107 shares of the pipeline company’s stock valued at $1,945,188,000 after acquiring an additional 279,597 shares in the last quarter. Synovus Financial Corp lifted its holdings in Enbridge by 4.2% during the 3rd quarter. Synovus Financial Corp now owns 227,573 shares of the pipeline company’s stock worth $9,504,000 after buying an additional 9,086 shares during the period. Envestnet Asset Management Inc. lifted its holdings in Enbridge by 5.2% during the 3rd quarter. Envestnet Asset Management Inc. now owns 87,372 shares of the pipeline company’s stock worth $3,654,000 after buying an additional 4,296 shares during the period. Finally, Grisanti Capital Management LLC acquired a new position in Enbridge during the 3rd quarter worth about $233,000. Institutional investors and hedge funds own 62.18% of the company’s stock.
A number of analysts recently commented on the company. BidaskClub lowered Enbridge from a “sell” rating to a “strong sell” rating in a research report on Friday, August 11th. GMP Securities downgraded Enbridge from a “buy” rating to a “hold” rating in a research note on Tuesday, October 17th. Zacks Investment Research downgraded Enbridge from a “hold” rating to a “sell” rating in a research note on Tuesday, October 31st. Morgan Stanley cut their target price on Enbridge from $43.00 to $41.00 and set an “equal weight” rating on the stock in a research note on Friday, November 17th. Finally, Canaccord Genuity restated a “buy” rating and issued a $54.00 target price on shares of Enbridge in a research note on Thursday, November 30th. One analyst has rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $52.00.
Enbridge Inc (ENB) traded up $0.08 during trading on Wednesday, hitting $38.39. 2,246,600 shares of the stock traded hands, compared to its average volume of 4,094,951. The company has a market capitalization of $63,351.30, a PE ratio of 24.88, a P/E/G ratio of 2.67 and a beta of 0.64. The company has a current ratio of 0.64, a quick ratio of 0.50 and a debt-to-equity ratio of 1.06. Enbridge Inc has a 52-week low of $34.39 and a 52-week high of $44.51.
Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings results on Thursday, November 2nd. The pipeline company reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.03. Enbridge had a net margin of 7.49% and a return on equity of 5.62%. The business had revenue of $9.23 billion during the quarter, compared to analyst estimates of $8.54 billion. During the same period in the prior year, the business posted $0.47 earnings per share. equities research analysts forecast that Enbridge Inc will post 1.55 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, March 1st. Stockholders of record on Thursday, February 15th will be issued a dividend of $0.5278 per share. This is a positive change from Enbridge’s previous quarterly dividend of $0.47. This represents a $2.11 dividend on an annualized basis and a dividend yield of 5.50%. The ex-dividend date is Wednesday, February 14th. Enbridge’s dividend payout ratio is currently 120.76%.
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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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