Commonwealth Bank of Australia cut its holdings in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 12.1% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 10,102,621 shares of the pipeline company’s stock after selling 1,396,526 shares during the period. Enbridge accounts for approximately 4.1% of Commonwealth Bank of Australia’s portfolio, making the stock its biggest holding. Commonwealth Bank of Australia owned 0.61% of Enbridge worth $419,193,000 at the end of the most recent quarter.
Several other institutional investors have also bought and sold shares of ENB. First Personal Financial Services grew its stake in shares of Enbridge by 16.4% in the 2nd quarter. First Personal Financial Services now owns 2,825 shares of the pipeline company’s stock valued at $112,000 after purchasing an additional 397 shares during the period. Spectrum Management Group Inc. acquired a new position in shares of Enbridge in the 3rd quarter worth approximately $113,000. Welch Group LLC acquired a new position in shares of Enbridge in the 2nd quarter worth approximately $121,000. San Francisco Sentry Investment Group CA acquired a new position in shares of Enbridge in the 2nd quarter worth approximately $159,000. Finally, NEXT Financial Group Inc boosted its holdings in shares of Enbridge by 53.6% in the 3rd quarter. NEXT Financial Group Inc now owns 4,196 shares of the pipeline company’s stock worth $174,000 after acquiring an additional 1,465 shares in the last quarter. Institutional investors and hedge funds own 62.18% of the company’s stock.
Enbridge Inc (NYSE:ENB) traded down $0.25 during trading on Thursday, hitting $38.14. 2,288,400 shares of the stock were exchanged, compared to its average volume of 4,087,261. Enbridge Inc has a one year low of $34.39 and a one year high of $44.51. The firm has a market cap of $63,483.59, a P/E ratio of 24.93, a price-to-earnings-growth ratio of 2.67 and a beta of 0.64. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.50 and a current ratio of 0.64.
Enbridge (NYSE:ENB) (TSE:ENB) last issued its earnings results on Thursday, November 2nd. The pipeline company reported $0.39 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.36 by $0.03. The business had revenue of $9.23 billion during the quarter, compared to the consensus estimate of $8.54 billion. Enbridge had a net margin of 7.49% and a return on equity of 5.62%. During the same period last year, the business posted $0.47 EPS. analysts expect that Enbridge Inc will post 1.55 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 1st. Shareholders of record on Thursday, February 15th will be given a dividend of $0.5278 per share. The ex-dividend date of this dividend is Wednesday, February 14th. This is an increase from Enbridge’s previous quarterly dividend of $0.47. This represents a $2.11 annualized dividend and a yield of 5.54%. Enbridge’s dividend payout ratio (DPR) is 120.76%.
ENB has been the topic of several research reports. GMP Securities downgraded Enbridge from a “buy” rating to a “hold” rating in a report on Tuesday, October 17th. BidaskClub upgraded shares of Enbridge from a “strong sell” rating to a “sell” rating in a research report on Friday, August 25th. Canaccord Genuity reiterated a “buy” rating and set a $54.00 target price on shares of Enbridge in a research report on Thursday, November 30th. Zacks Investment Research upgraded shares of Enbridge from a “sell” rating to a “hold” rating in a research report on Wednesday, November 8th. Finally, Morgan Stanley lowered their price objective on shares of Enbridge from $43.00 to $41.00 and set an “equal weight” rating for the company in a research report on Friday, November 17th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $52.00.
Enbridge Inc is a Canada-based energy transportation and distribution company. The Company is engaged in delivering energy. It operates through five segments: Liquids Pipelines, Gas Distribution, Gas Pipelines and Processing, Green Power and Transmission, and Energy Services. Liquids Pipelines consists of common carrier and contract crude oil, natural gas liquids (NGL), and refined products pipelines and terminals, including Canadian Mainline, Lakehead Pipeline System, Mid-Continent and Gulf Coast and Regional Oil Sands System.
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