Private Advisory Group LLC grew its holdings in Enbridge Inc (NYSE:ENB – Free Report) (TSE:ENB) by 48.8% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 170,597 shares of the pipeline company’s stock after buying an additional 55,914 shares during the quarter. Private Advisory Group LLC’s holdings in Enbridge were worth $7,931,000 at the end of the most recent quarter.
Other large investors have also recently made changes to their positions in the company. Retirement Planning Group LLC raised its holdings in shares of Enbridge by 3.6% during the first quarter. Retirement Planning Group LLC now owns 5,357 shares of the pipeline company’s stock valued at $290,000 after acquiring an additional 187 shares in the last quarter. Bank & Trust Co boosted its holdings in Enbridge by 0.6% in the second quarter. Bank & Trust Co now owns 33,276 shares of the pipeline company’s stock valued at $1,804,000 after acquiring an additional 193 shares in the last quarter. Cornerstone Wealth Management LLC increased its position in Enbridge by 0.6% during the 2nd quarter. Cornerstone Wealth Management LLC now owns 31,543 shares of the pipeline company’s stock valued at $1,710,000 after purchasing an additional 194 shares during the period. Clearwave Capital LLC increased its position in Enbridge by 0.9% during the 2nd quarter. Clearwave Capital LLC now owns 22,033 shares of the pipeline company’s stock valued at $1,194,000 after purchasing an additional 204 shares during the period. Finally, Clifford Swan Investment Counsel LLC increased its position in Enbridge by 2.9% during the 2nd quarter. Clifford Swan Investment Counsel LLC now owns 7,383 shares of the pipeline company’s stock valued at $400,000 after purchasing an additional 206 shares during the period. 54.60% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
Several research analysts have commented on ENB shares. Weiss Ratings lowered shares of Enbridge from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, November 2nd. US Capital Advisors raised shares of Enbridge from a “hold” rating to a “moderate buy” rating in a research report on Thursday, August 20th. National Bank Financial raised shares of Enbridge from a “sector perform” rating to an “outperform” rating in a research note on Tuesday, September 15th. TD upgraded shares of Enbridge to a “buy” rating in a research report on Tuesday, September 15th. Finally, Jefferies Financial Group reiterated a “hold” rating on shares of Enbridge in a research report on Monday, September 14th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $65.88.
Enbridge Trading Up 0.4%
ENB opened at $48.09 on Friday. The stock has a market cap of $107.18 billion, a PE ratio of 21.88, a PEG ratio of 5.71 and a beta of 0.59. The company has a quick ratio of 0.66, a current ratio of 0.81 and a debt-to-equity ratio of 1.66. The business has a 50 day moving average of $47.88 and a 200-day moving average of $52.18. Enbridge Inc has a 52 week low of $45.03 and a 52 week high of $58.45.
Enbridge (NYSE:ENB – Get Free Report) (TSE:ENB) last released its quarterly earnings results on Friday, November 6th. The pipeline company reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.03. The company had revenue of $21.08 billion for the quarter, compared to analyst estimates of $9.62 billion. Enbridge had a return on equity of 11.56% and a net margin of 7.37%. Equities research analysts predict that Enbridge Inc will post 2.10 earnings per share for the current fiscal year.
Enbridge Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 1st. Shareholders of record on Friday, November 13th will be given a dividend of C$0.97 per share. The ex-dividend date of this dividend is Friday, November 13th. This represents a $3.88 annualized dividend and a yield of 8.1%. Enbridge’s dividend payout ratio (DPR) is currently 134.80%.
About Enbridge
Enbridge Inc. is a North American energy infrastructure company that transports and distributes energy. Its businesses include crude oil and liquids pipelines, natural gas transmission and storage, and natural gas utilities that serve homes and businesses. Founded in 1949 as Interprovincial Pipe Line Company, Enbridge has grown into a cross-border operator serving customers and energy markets in Canada and the United States. Its infrastructure moves crude oil, natural gas and natural gas liquids, connecting producers with refineries, utilities and other markets.
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