Enbridge Inc $ENB Stock Sold by Russell Investments Group Ltd.

Russell Investments Group Ltd. reduced its position in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 10.4% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,774,630 shares of the pipeline company’s stock after selling 205,582 shares during the period. Russell Investments Group Ltd. owned approximately 0.08% of Enbridge worth $82,616,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. GK Wealth Management LLC acquired a new position in Enbridge during the 3rd quarter worth approximately $25,000. Arlington Trust Co LLC lifted its holdings in shares of Enbridge by 114.6% in the 2nd quarter. Arlington Trust Co LLC now owns 500 shares of the pipeline company’s stock valued at $27,000 after buying an additional 267 shares during the period. Signature Equity Partners LLC boosted its stake in shares of Enbridge by 476.5% in the third quarter. Signature Equity Partners LLC now owns 588 shares of the pipeline company’s stock valued at $27,000 after buying an additional 486 shares in the last quarter. Quintet Private Bank Europe S.A. boosted its stake in shares of Enbridge by 100.0% in the third quarter. Quintet Private Bank Europe S.A. now owns 600 shares of the pipeline company’s stock valued at $28,000 after buying an additional 300 shares in the last quarter. Finally, City Holding Co. boosted its stake in shares of Enbridge by 121.5% in the second quarter. City Holding Co. now owns 649 shares of the pipeline company’s stock valued at $35,000 after buying an additional 356 shares in the last quarter. Institutional investors and hedge funds own 54.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on ENB shares. TD upgraded Enbridge to a “buy” rating in a research report on Tuesday, September 15th. Raymond James Financial reissued a “market perform” rating on shares of Enbridge in a report on Tuesday, September 15th. Weiss Ratings lowered shares of Enbridge from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday, November 2nd. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of Enbridge in a research report on Thursday, October 22nd. Finally, Royal Bank Of Canada upped their price target on shares of Enbridge from $79.00 to $84.00 and gave the stock an “outperform” rating in a research note on Monday, August 3rd. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $65.88.

Enbridge Price Performance

Shares of NYSE:ENB traded down $0.45 during trading on Friday, hitting $47.66. 8,806,005 shares of the stock were exchanged, compared to its average volume of 5,093,233. The company has a fifty day moving average price of $47.83 and a two-hundred day moving average price of $52.18. The company has a market cap of $106.22 billion, a PE ratio of 23.36, a P/E/G ratio of 5.75 and a beta of 0.59. The company has a current ratio of 0.81, a quick ratio of 0.66 and a debt-to-equity ratio of 1.66. Enbridge Inc has a 12-month low of $45.03 and a 12-month high of $58.45.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings results on Friday, November 6th. The pipeline company reported $0.39 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.03. Enbridge had a return on equity of 11.56% and a net margin of 7.37%. The business had revenue of $21.08 billion for the quarter, compared to analysts’ expectations of $9.62 billion. On average, analysts forecast that Enbridge Inc will post 2.09 EPS for the current year.

Enbridge Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 1st. Shareholders of record on Friday, November 13th will be issued a C$0.97 dividend. The ex-dividend date of this dividend is Friday, November 13th. This represents a $3.88 annualized dividend and a yield of 8.1%. Enbridge’s dividend payout ratio is 134.80%.

Enbridge Company Profile

Enbridge Inc. is a North American energy infrastructure company that transports and distributes energy. Its businesses include crude oil and liquids pipelines, natural gas transmission and storage, and natural gas utilities that serve homes and businesses. Founded in 1949 as Interprovincial Pipe Line Company, Enbridge has grown into a cross-border operator serving customers and energy markets in Canada and the United States. Its infrastructure moves crude oil, natural gas and natural gas liquids, connecting producers with refineries, utilities and other markets.