Stokes Capital Advisors LLC lessened its position in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 7.7% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,561 shares of the pipeline company’s stock after selling 1,216 shares during the period. Stokes Capital Advisors LLC’s holdings in Enbridge were worth $425,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Capital International Investors boosted its position in Enbridge by 22.0% during the first quarter. Capital International Investors now owns 155,763,559 shares of the pipeline company’s stock valued at $4,533,297,000 after acquiring an additional 28,059,331 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Enbridge by 0.4% during the 2nd quarter. Vanguard Group Inc. now owns 67,230,459 shares of the pipeline company’s stock valued at $2,045,151,000 after buying an additional 292,697 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in shares of Enbridge by 55.7% during the 1st quarter. The Manufacturers Life Insurance Company now owns 29,899,972 shares of the pipeline company’s stock valued at $869,790,000 after buying an additional 10,695,387 shares in the last quarter. Jarislowsky Fraser Ltd raised its position in shares of Enbridge by 2.4% during the 2nd quarter. Jarislowsky Fraser Ltd now owns 25,420,772 shares of the pipeline company’s stock valued at $770,467,000 after buying an additional 584,900 shares in the last quarter. Finally, CIBC Asset Management Inc raised its position in shares of Enbridge by 1.4% during the 2nd quarter. CIBC Asset Management Inc now owns 20,413,326 shares of the pipeline company’s stock valued at $618,766,000 after buying an additional 274,567 shares in the last quarter. Institutional investors own 52.27% of the company’s stock.
Shares of Enbridge stock opened at $29.45 on Friday. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.52 and a current ratio of 0.61. The stock has a market capitalization of $59.64 billion, a PE ratio of 42.07, a price-to-earnings-growth ratio of 1.54 and a beta of 0.83. Enbridge Inc has a 52-week low of $22.57 and a 52-week high of $43.15. The company has a 50-day simple moving average of $30.56 and a two-hundred day simple moving average of $30.90.
Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings data on Wednesday, July 29th. The pipeline company reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.15. Enbridge had a net margin of 5.17% and a return on equity of 8.61%. The firm had revenue of $5.78 billion during the quarter, compared to analysts’ expectations of $8.54 billion. During the same period in the previous year, the company earned $0.67 earnings per share. As a group, equities research analysts forecast that Enbridge Inc will post 2.05 EPS for the current fiscal year.
Several analysts have recently weighed in on ENB shares. Citigroup upgraded shares of Enbridge from a “neutral” rating to a “buy” rating and set a $50.00 price objective on the stock in a research report on Thursday, August 13th. CIBC raised their price objective on shares of Enbridge from $47.00 to $48.00 and gave the company an “outperform” rating in a research report on Thursday, July 30th. Royal Bank of Canada decreased their target price on shares of Enbridge from $61.00 to $58.00 and set an “outperform” rating on the stock in a research report on Thursday, July 30th. Tudor Pickering reiterated a “buy” rating and issued a $50.00 target price on shares of Enbridge in a research report on Tuesday, July 28th. Finally, ValuEngine cut shares of Enbridge from a “hold” rating to a “sell” rating in a research report on Monday, August 3rd. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and fifteen have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $51.50.
Enbridge Inc operates as an energy infrastructure company in Canada and the United States. The company operates through 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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