Enbridge Inc. (ENB) Position Decreased by Wells Fargo & Company MN
Wells Fargo & Company MN lowered its stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 12.2% during the third quarter, according to its most recent 13F filing with the SEC. The fund owned 276,545 shares of the company’s stock after selling 38,327 shares during the period. Wells Fargo & Company MN’s holdings in Enbridge were worth $12,232,000 at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in the stock. Envestnet Asset Management Inc. boosted its stake in Enbridge by 142.6% in the first quarter. Envestnet Asset Management Inc. now owns 29,064 shares of the company’s stock valued at $1,131,000 after buying an additional 17,085 shares during the period. Nexus Investment Management Inc. boosted its position in shares of Enbridge by 0.6% in the second quarter. Nexus Investment Management Inc. now owns 230,775 shares of the company’s stock valued at $9,709,000 after buying an additional 1,300 shares during the last quarter. Cardinal Capital Management Inc. boosted its position in shares of Enbridge by 22.1% in the second quarter. Cardinal Capital Management Inc. now owns 542,233 shares of the company’s stock valued at $22,812,000 after buying an additional 98,199 shares during the last quarter. British Columbia Investment Management Corp boosted its position in shares of Enbridge by 0.8% in the second quarter. British Columbia Investment Management Corp now owns 140,303 shares of the company’s stock valued at $4,576,000 after buying an additional 1,100 shares during the last quarter. Finally, Atria Investments LLC purchased a new position in shares of Enbridge during the second quarter valued at about $220,000. 71.53% of the stock is currently owned by institutional investors.
Shares of Enbridge Inc. (NYSE:ENB) traded down 1.52% during mid-day trading on Tuesday, reaching $42.12. The company had a trading volume of 1,166,645 shares. The company has a market capitalization of $39.53 billion, a price-to-earnings ratio of 28.81 and a beta of 0.62. The stock has a 50 day moving average of $42.87 and a 200-day moving average of $42.04. Enbridge Inc. has a 52 week low of $27.43 and a 52 week high of $45.77.
Enbridge (NYSE:ENB) last issued its earnings results on Thursday, November 3rd. The company reported $0.47 EPS for the quarter, missing analysts’ consensus estimates of $0.49 by $0.02. Enbridge had a return on equity of 14.67% and a net margin of 5.99%. During the same period in the previous year, the company posted $0.47 earnings per share. On average, analysts expect that Enbridge Inc. will post $1.72 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 1st. Stockholders of record on Tuesday, November 15th will be paid a $0.3956 dividend. The ex-dividend date of this dividend is Thursday, November 10th. This represents a $1.58 dividend on an annualized basis and a dividend yield of 3.70%. Enbridge’s payout ratio is 105.33%.
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Several research analysts have issued reports on ENB shares. Bank of America Corp. started coverage on Enbridge in a research report on Thursday, September 1st. They issued a “neutral” rating and a $56.00 target price on the stock. RBC Capital Markets reaffirmed an “outperform” rating on shares of Enbridge in a research report on Sunday, September 4th. Canaccord Genuity reaffirmed a “buy” rating on shares of Enbridge in a research report on Sunday, September 4th. TD Securities reaffirmed a “buy” rating and set a $59.00 price objective (up from $58.00) on shares of Enbridge in a research report on Wednesday, August 3rd. Finally, Scotiabank reaffirmed an “outperform” rating and set a $61.00 price objective on shares of Enbridge in a research report on Friday, September 9th. Four research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $56.75.
Enbridge Company Profile
Enbridge Inc (Enbridge) is an energy transportation and distribution company. The Company operates through five segments: Liquids Pipelines; Gas Distribution; Gas Pipelines, Processing and Energy Services; Sponsored Investments, and Corporate. The Company operates the crude oil and liquids transportation system in Canada and the United States.
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