Mitchell Mcleod Pugh & Williams Inc. cut its stake in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 8.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 18,625 shares of the pipeline company’s stock after selling 1,687 shares during the period. Mitchell Mcleod Pugh & Williams Inc.’s holdings in Enbridge were worth $579,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp boosted its stake in Enbridge by 6.3% in the 3rd quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 1,767,200 shares of the pipeline company’s stock worth $73,657,000 after purchasing an additional 105,000 shares during the period. Centaurus Financial Inc. bought a new stake in Enbridge during the 2nd quarter worth about $191,000. Morgan Stanley lifted its position in Enbridge by 11.0% during the 3rd quarter. Morgan Stanley now owns 4,787,632 shares of the pipeline company’s stock worth $154,592,000 after buying an additional 472,660 shares in the last quarter. Nexus Investment Management Inc. lifted its position in Enbridge by 4.9% during the 3rd quarter. Nexus Investment Management Inc. now owns 412,388 shares of the pipeline company’s stock worth $13,297,000 after buying an additional 19,200 shares in the last quarter. Finally, Highlander Capital Management LLC lifted its position in Enbridge by 8.5% during the 2nd quarter. Highlander Capital Management LLC now owns 29,661 shares of the pipeline company’s stock worth $1,059,000 after buying an additional 2,314 shares in the last quarter. 49.11% of the stock is owned by hedge funds and other institutional investors.
ENB has been the topic of several analyst reports. Zacks Investment Research raised shares of Enbridge from a “hold” rating to a “buy” rating and set a $38.00 price target on the stock in a research report on Monday, October 8th. UBS Group initiated coverage on shares of Enbridge in a report on Thursday, October 4th. They issued a “buy” rating on the stock. ValuEngine raised shares of Enbridge from a “sell” rating to a “hold” rating in a report on Tuesday, October 2nd. Citigroup reissued a “neutral” rating on shares of Enbridge in a report on Monday, September 24th. Finally, Wells Fargo & Co raised shares of Enbridge from a “market perform” rating to an “outperform” rating in a report on Monday, November 5th. One analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $48.20.
Enbridge stock traded up $0.22 during trading hours on Thursday, hitting $34.70. The company had a trading volume of 4,913,727 shares, compared to its average volume of 5,061,119. The stock has a market cap of $65.95 billion, a P/E ratio of 22.53, a P/E/G ratio of 1.90 and a beta of 0.54. The company has a quick ratio of 0.49, a current ratio of 0.59 and a debt-to-equity ratio of 0.98. Enbridge Inc has a one year low of $28.82 and a one year high of $40.07.
Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings results on Friday, November 2nd. The pipeline company reported $0.42 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.42. The firm had revenue of $8.68 billion for the quarter, compared to analysts’ expectations of $8.28 billion. Enbridge had a net margin of 3.95% and a return on equity of 8.81%. During the same period in the prior year, the firm earned $0.39 EPS. Equities analysts anticipate that Enbridge Inc will post 2.05 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 1st. Shareholders of record on Friday, February 15th will be given a dividend of $0.555 per share. This represents a $2.22 dividend on an annualized basis and a dividend yield of 6.40%. The ex-dividend date is Thursday, February 14th. This is a positive change from Enbridge’s previous quarterly dividend of $0.51. Enbridge’s dividend payout ratio is presently 131.82%.
In related news, insider Albert Monaco acquired 7,569 shares of the company’s stock in a transaction that occurred on Tuesday, December 4th. The stock was acquired at an average price of $43.82 per share, with a total value of $331,673.58. Following the purchase, the insider now directly owns 67,329 shares in the company, valued at $2,950,356.78. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Byron C. Neiles sold 64,000 shares of the stock in a transaction that occurred on Friday, December 14th. The shares were sold at an average price of $43.10, for a total transaction of $2,758,400.00. Following the completion of the transaction, the insider now directly owns 128,665 shares of the company’s stock, valued at approximately $5,545,461.50. The disclosure for this sale can be found here. Corporate insiders own 0.48% of the company’s stock.
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Enbridge Inc operates as an energy infrastructure company in Canada and the United States. The company operates in 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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