Haverford Trust Co. boosted its stake in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 3.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,807 shares of the pipeline company’s stock after purchasing an additional 288 shares during the period. Haverford Trust Co.’s holdings in Enbridge were worth $274,000 at the end of the most recent quarter.
A number of other large investors also recently modified their holdings of the stock. Vanguard Group Inc. lifted its stake in Enbridge by 2.0% in the 2nd quarter. Vanguard Group Inc. now owns 61,387,908 shares of the pipeline company’s stock valued at $2,214,876,000 after purchasing an additional 1,200,391 shares during the last quarter. Great West Life Assurance Co. Can lifted its stake in Enbridge by 6.8% in the 2nd quarter. Great West Life Assurance Co. Can now owns 13,006,953 shares of the pipeline company’s stock valued at $468,753,000 after purchasing an additional 833,190 shares during the last quarter. Bank of Nova Scotia lifted its stake in Enbridge by 0.8% in the 2nd quarter. Bank of Nova Scotia now owns 12,535,497 shares of the pipeline company’s stock valued at $448,587,000 after purchasing an additional 103,842 shares during the last quarter. Salient Capital Advisors LLC lifted its stake in Enbridge by 5.2% in the 2nd quarter. Salient Capital Advisors LLC now owns 10,584,696 shares of the pipeline company’s stock valued at $382,165,000 after purchasing an additional 519,679 shares during the last quarter. Finally, Scotia Capital Inc. lifted its stake in Enbridge by 1.0% in the 2nd quarter. Scotia Capital Inc. now owns 8,243,112 shares of the pipeline company’s stock valued at $296,386,000 after purchasing an additional 78,848 shares during the last quarter. 54.21% of the stock is owned by institutional investors and hedge funds.
Several equities analysts recently commented on ENB shares. Barclays downgraded shares of Enbridge from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $52.00 to $51.00 in a research note on Tuesday, October 15th. CIBC dropped their price objective on shares of Enbridge from $57.00 to $56.00 in a research note on Wednesday, October 23rd. Scotiabank raised shares of Enbridge from a “sector perform” rating to an “outperform” rating in a research note on Thursday, October 10th. ValuEngine downgraded shares of Enbridge from a “sell” rating to a “strong sell” rating in a research note on Friday, November 1st. Finally, US Capital Advisors reissued an “overweight” rating on shares of Enbridge in a research note on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $45.68.
Shares of ENB stock traded up $0.74 during trading hours on Friday, hitting $37.47. 5,499,096 shares of the company’s stock traded hands, compared to its average volume of 3,344,608. The stock’s 50 day simple moving average is $35.89 and its 200 day simple moving average is $35.48. The stock has a market cap of $74.72 billion, a PE ratio of 18.28, a price-to-earnings-growth ratio of 2.80 and a beta of 0.58. Enbridge Inc has a 12 month low of $28.82 and a 12 month high of $38.04. The company has a quick ratio of 0.53, a current ratio of 0.63 and a debt-to-equity ratio of 0.92.
Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings results on Friday, November 8th. The pipeline company reported $0.42 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.42. The firm had revenue of $8.79 billion during the quarter, compared to the consensus estimate of $11.65 billion. Enbridge had a net margin of 9.97% and a return on equity of 8.16%. During the same quarter last year, the firm earned $0.55 earnings per share. As a group, equities research analysts expect that Enbridge Inc will post 2.06 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Friday, November 15th will be paid a dividend of $0.561 per share. The ex-dividend date is Thursday, November 14th. This represents a $2.24 annualized dividend and a dividend yield of 5.99%. This is an increase from Enbridge’s previous quarterly dividend of $0.56. Enbridge’s dividend payout ratio (DPR) is presently 107.80%.
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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