Miller Howard Investments Inc. NY increased its stake in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 0.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,629,756 shares of the pipeline company’s stock after purchasing an additional 24,663 shares during the quarter. Enbridge makes up approximately 2.9% of Miller Howard Investments Inc. NY’s holdings, making the stock its 3rd largest holding. Miller Howard Investments Inc. NY owned 0.13% of Enbridge worth $92,252,000 at the end of the most recent reporting period.
A number of other institutional investors also recently bought and sold shares of ENB. Manchester Financial Inc. purchased a new stake in Enbridge in the 2nd quarter valued at about $25,000. Westside Investment Management Inc. purchased a new stake in Enbridge in the 2nd quarter valued at about $25,000. Strategic Blueprint LLC purchased a new stake in Enbridge in the 3rd quarter valued at about $27,000. SRS Capital Advisors Inc. purchased a new stake in Enbridge in the 2nd quarter valued at about $35,000. Finally, Vista Private Wealth Partners. LLC purchased a new stake in Enbridge in the 3rd quarter valued at about $33,000. Hedge funds and other institutional investors own 53.82% of the company’s stock.
Shares of NYSE:ENB traded up $0.04 during trading on Thursday, reaching $35.72. 1,173,451 shares of the stock were exchanged, compared to its average volume of 3,043,373. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.53 and a current ratio of 0.63. Enbridge Inc has a 12-month low of $28.82 and a 12-month high of $38.04. The firm has a market cap of $72.21 billion, a price-to-earnings ratio of 17.42, a price-to-earnings-growth ratio of 2.78 and a beta of 0.57. The firm’s 50-day moving average price is $34.84 and its 200 day moving average price is $35.53.
Enbridge (NYSE:ENB) (TSE:ENB) last issued its earnings results on Friday, August 2nd. The pipeline company reported $0.50 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.42 by $0.08. Enbridge had a return on equity of 8.16% and a net margin of 9.97%. The business had revenue of $9.92 billion during the quarter. As a group, equities research analysts forecast that Enbridge Inc will post 2 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st were issued a dividend of $0.251 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.81%. The ex-dividend date of this dividend was Monday, September 30th. Enbridge’s payout ratio is currently 107.80%.
ENB has been the subject of several recent analyst reports. Goldman Sachs Group initiated coverage on Enbridge in a report on Thursday, July 18th. They issued a “neutral” rating for the company. Bank of America cut Enbridge from a “buy” rating to a “neutral” rating and set a $49.00 price target for the company. in a report on Tuesday, July 2nd. ValuEngine cut Enbridge from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. Scotiabank upgraded Enbridge from a “sector perform” rating to an “outperform” rating in a report on Thursday, October 10th. Finally, Barclays cut Enbridge from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $52.00 to $51.00 in a report on Tuesday. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $44.96.
Enbridge Company Profile
Enbridge Inc operates as an energy infrastructure company in Canada and the United States. The company operates through five segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution, Green Power and Transmission, and Energy Services. The Liquids Pipelines segment operates common carrier and contract crude oil, natural gas liquids (NGL), and refined products pipelines and terminals.
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