Premier Fund Managers Ltd increased its stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 7.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 699,434 shares of the pipeline company’s stock after buying an additional 46,000 shares during the period. Premier Fund Managers Ltd’s holdings in Enbridge were worth $27,847,000 as of its most recent SEC filing.
A number of other hedge funds also recently bought and sold shares of ENB. Isthmus Partners LLC purchased a new position in Enbridge in the 2nd quarter worth about $26,000. Mascoma Wealth Management LLC purchased a new position in Enbridge during the 3rd quarter valued at about $26,000. BDO Wealth Advisors LLC increased its position in Enbridge by 222.4% during the 2nd quarter. BDO Wealth Advisors LLC now owns 793 shares of the pipeline company’s stock valued at $32,000 after purchasing an additional 547 shares during the period. Glassman Wealth Services increased its position in Enbridge by 84.3% during the 3rd quarter. Glassman Wealth Services now owns 846 shares of the pipeline company’s stock valued at $34,000 after purchasing an additional 387 shares during the period. Finally, Meeder Asset Management Inc. increased its position in Enbridge by 62.0% during the 3rd quarter. Meeder Asset Management Inc. now owns 1,087 shares of the pipeline company’s stock valued at $43,000 after purchasing an additional 416 shares during the period. 48.35% of the stock is currently owned by institutional investors.
A number of research analysts have commented on ENB shares. Wells Fargo & Company raised their target price on shares of Enbridge from $53.00 to $56.00 and gave the company an “overweight” rating in a research report on Wednesday, September 29th. National Bank Financial raised their price target on shares of Enbridge from C$51.00 to C$54.00 and gave the company an “outperform” rating in a report on Monday, November 8th. CIBC raised their price target on shares of Enbridge from C$55.00 to C$57.00 in a report on Tuesday. TD Securities raised their price target on shares of Enbridge from C$55.00 to C$57.00 and gave the company a “buy” rating in a report on Monday, November 8th. Finally, Credit Suisse Group cut shares of Enbridge from an “outperform” rating to a “neutral” rating and set a $56.00 price target on the stock. in a report on Monday, October 25th. Six research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, Enbridge currently has a consensus rating of “Buy” and a consensus target price of $53.40.
Enbridge (NYSE:ENB) (TSE:ENB) last posted its earnings results on Friday, November 5th. The pipeline company reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.01. The firm had revenue of $9.11 billion during the quarter, compared to analyst estimates of $9.68 billion. Enbridge had a net margin of 13.47% and a return on equity of 9.76%. During the same period in the previous year, the firm earned $0.36 EPS. On average, research analysts anticipate that Enbridge Inc. will post 2.23 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 1st. Investors of record on Tuesday, February 15th will be issued a $0.673 dividend. This represents a $2.69 annualized dividend and a yield of 6.51%. The ex-dividend date of this dividend is Monday, February 14th. Enbridge’s payout ratio is presently 120.27%.
Enbridge Company Profile
Enbridge, Inc engages in the provision of gas and oil businesses. It operates through the following segments: Liquid Pipelines, Gas Distribution & Storage, Gas Transmission & Midstream, Renewable Power Generation, and Energy Services. The Liquids Pipelines segment consists of common carrier and contract crude oil, natural gas liquids and refined products pipelines and terminals in Canada and U.S., including Canadian Mainline, Regional Oil Sands System, Southern Lights Pipeline, Spearhead Pipeline, Seaway Crude Pipeline interest, and other feeder pipelines.
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