Enbridge Inc. (ENB) Stake Raised by First Trust Advisors LP
First Trust Advisors LP raised its position in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 14.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 296,989 shares of the company’s stock after buying an additional 36,945 shares during the period. First Trust Advisors LP’s holdings in Enbridge were worth $13,136,000 at the end of the most recent reporting period.
Several other institutional investors have also bought and sold shares of the company. AQR Capital Management LLC raised its position in Enbridge by 0.6% in the second quarter. AQR Capital Management LLC now owns 21,809 shares of the company’s stock worth $919,000 after buying an additional 127 shares during the last quarter. Oppenheimer & Co. Inc. raised its position in Enbridge by 1.8% in the second quarter. Oppenheimer & Co. Inc. now owns 7,996 shares of the company’s stock worth $339,000 after buying an additional 145 shares during the last quarter. Creative Planning raised its position in Enbridge by 1.6% in the third quarter. Creative Planning now owns 11,122 shares of the company’s stock worth $492,000 after buying an additional 174 shares during the last quarter. Blue Fin Capital Inc. raised its position in Enbridge by 0.9% in the second quarter. Blue Fin Capital Inc. now owns 33,190 shares of the company’s stock worth $1,406,000 after buying an additional 300 shares during the last quarter. Finally, Wetherby Asset Management Inc. raised its position in Enbridge by 1.7% in the second quarter. Wetherby Asset Management Inc. now owns 18,098 shares of the company’s stock worth $767,000 after buying an additional 308 shares during the last quarter. Institutional investors and hedge funds own 71.53% of the company’s stock.
Shares of Enbridge Inc. (NYSE:ENB) traded up 0.31% during mid-day trading on Wednesday, reaching $42.29. 1,625,081 shares of the company’s stock were exchanged. The firm has a market cap of $39.69 billion, a P/E ratio of 28.93 and a beta of 0.62. The company has a 50 day moving average price of $42.87 and a 200 day moving average price 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 announced its quarterly earnings results on Thursday, November 3rd. The company reported $0.47 EPS for the quarter, missing the Zacks’ consensus estimate of $0.49 by $0.02. Enbridge had a net margin of 5.99% and a return on equity of 14.67%. During the same quarter in the previous year, the firm earned $0.47 EPS. Analysts forecast that Enbridge Inc. will post $1.72 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 1st. Stockholders of record on Tuesday, November 15th will be issued a $0.3956 dividend. This represents a $1.58 dividend on an annualized basis and a dividend yield of 3.75%. The ex-dividend date is Thursday, November 10th. Enbridge’s payout ratio is 105.33%.
Several equities research analysts have recently weighed in on the company. Scotiabank reiterated an “outperform” rating and issued a $61.00 price objective on shares of Enbridge in a research note on Friday, September 9th. Goldman Sachs Group Inc. raised Enbridge from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $43.00 to $48.00 in a report on Wednesday, September 7th. National Bank Financial raised Enbridge from a “sector perform” rating to an “outperform” rating in a report on Wednesday, September 7th. Zacks Investment Research downgraded Enbridge from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 8th. Finally, TD Securities reaffirmed a “buy” rating and set a $62.00 price objective on shares of Enbridge in a report on Sunday, November 6th. Four investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Enbridge has a consensus rating of “Buy” and a consensus target price of $56.75.
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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