Vontobel Holding Ltd. cut its stake in Enbridge Inc (NYSE:ENB – Free Report) (TSE:ENB) by 61.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,863,000 shares of the pipeline company’s stock after selling 2,934,300 shares during the period. Vontobel Holding Ltd.’s holdings in Enbridge were worth $86,600,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds also recently made changes to their positions in the company. Deutsche Bank AG bought a new stake in Enbridge during the second quarter worth about $1,850,502,000. Connor Clark & Lunn Investment Management Ltd. grew its holdings in Enbridge by 18.4% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 20,624,547 shares of the pipeline company’s stock valued at $1,117,353,000 after buying an additional 3,205,322 shares in the last quarter. TD Waterhouse Canada Inc. increased its position in Enbridge by 1.0% during the second quarter. TD Waterhouse Canada Inc. now owns 16,189,798 shares of the pipeline company’s stock worth $863,952,000 after acquiring an additional 164,934 shares during the period. Amundi raised its position in shares of Enbridge by 8.5% in the second quarter. Amundi now owns 11,948,497 shares of the pipeline company’s stock valued at $647,728,000 after buying an additional 936,435 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its position in shares of Enbridge by 2.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 11,079,469 shares of the pipeline company’s stock valued at $599,709,000 after acquiring an additional 268,800 shares during the period. 54.60% of the stock is owned by institutional investors.
Analysts Set New Price Targets
A number of equities research analysts have weighed in on the company. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Enbridge in a report on Wednesday, August 19th. National Bank Financial upgraded Enbridge from a “sector perform” rating to an “outperform” rating in a report on Tuesday, September 15th. Royal Bank Of Canada upped their price objective on shares of Enbridge from $79.00 to $84.00 and gave the company an “outperform” rating in a research note on Monday, August 3rd. TD upgraded Enbridge to a “buy” rating in a report on Tuesday, September 15th. Finally, Jefferies Financial Group reaffirmed a “hold” rating on shares of Enbridge in a research report on Monday, September 14th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $65.88.
Enbridge Price Performance
Shares of Enbridge stock traded up $1.25 on Friday, reaching $48.08. The stock had a trading volume of 6,885,804 shares, compared to its average volume of 4,227,302. The business’s 50 day moving average is $48.82 and its two-hundred day moving average is $52.73. The company has a current ratio of 0.72, a quick ratio of 0.66 and a debt-to-equity ratio of 1.69. Enbridge Inc has a 1 year low of $45.03 and a 1 year high of $58.45. The company has a market cap of $107.17 billion, a P/E ratio of 25.71, a price-to-earnings-growth ratio of 5.58 and a beta of 0.60.
Enbridge (NYSE:ENB – Get Free Report) (TSE:ENB) last announced its earnings results on Friday, July 31st. The pipeline company reported $0.46 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.03. The business had revenue of $9.70 billion for the quarter, compared to the consensus estimate of $8.67 billion. Enbridge had a net margin of 7.20% and a return on equity of 11.17%. During the same period last year, the firm posted $0.65 earnings per share. As a group, research analysts anticipate that Enbridge Inc will post 2.10 EPS for the current year.
Enbridge Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 1st. Stockholders of record on Friday, August 14th were paid a dividend of C$0.97 per share. The ex-dividend date of this dividend was Friday, August 14th. This represents a $3.88 annualized dividend and a dividend yield of 8.1%. Enbridge’s payout ratio is 147.06%.
Enbridge Profile
Enbridge Inc (NYSE: ENB) is a Canadian energy infrastructure company that transports and distributes oil, natural gas and renewable energy across North America. Its operations include crude oil and liquids pipelines, natural gas transmission and storage, natural gas distribution and utility services, and renewable power generation. The company serves customers and communities in Canada and the United States.
Enbridge’s liquids pipeline network transports crude oil and other liquid hydrocarbons to refineries, export terminals and market hubs.
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