Westwood Holdings Group Inc. cut its holdings in Enbridge Inc. (NYSE:ENB - Free Report) TSE: ENB by 48.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,262,717 shares of the pipeline company's stock after selling 1,208,491 shares during the period. Westwood Holdings Group Inc. owned 0.06% of Enbridge worth $53,577,000 at the end of the most recent reporting period.
Other hedge funds also recently added to or reduced their stakes in the company. Albion Financial Group UT purchased a new position in shares of Enbridge during the 4th quarter worth $29,000. Wintrust Investments LLC raised its stake in shares of Enbridge by 47.8% in the 4th quarter. Wintrust Investments LLC now owns 736 shares of the pipeline company's stock valued at $31,000 after acquiring an additional 238 shares during the period. GeoWealth Management LLC raised its stake in shares of Enbridge by 436.4% in the 4th quarter. GeoWealth Management LLC now owns 751 shares of the pipeline company's stock valued at $32,000 after acquiring an additional 611 shares during the period. Hopwood Financial Services Inc. acquired a new position in shares of Enbridge in the 4th quarter worth approximately $42,000. Finally, Vision Financial Markets LLC purchased a new position in shares of Enbridge during the 4th quarter worth approximately $47,000. 54.60% of the stock is currently owned by hedge funds and other institutional investors.
Enbridge Price Performance
Shares of ENB opened at $44.90 on Monday. The firm has a market capitalization of $97.87 billion, a price-to-earnings ratio of 26.10, a PEG ratio of 3.92 and a beta of 0.84. The firm's fifty day simple moving average is $44.49 and its 200-day simple moving average is $43.47. Enbridge Inc. has a twelve month low of $34.60 and a twelve month high of $47.08. The company has a current ratio of 0.55, a quick ratio of 0.54 and a debt-to-equity ratio of 1.50.
Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last released its quarterly earnings data on Friday, May 9th. The pipeline company reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.04. Enbridge had a return on equity of 10.16% and a net margin of 10.04%. The business had revenue of $7.27 billion during the quarter, compared to analysts' expectations of $10.20 billion. During the same period in the prior year, the firm posted $0.92 EPS. Equities analysts forecast that Enbridge Inc. will post 2.14 EPS for the current fiscal year.
Enbridge Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Sunday, June 1st. Investors of record on Thursday, May 15th will be given a $0.679 dividend. The ex-dividend date is Thursday, May 15th. This is a boost from Enbridge's previous quarterly dividend of $0.67. This represents a $2.72 dividend on an annualized basis and a yield of 6.05%. Enbridge's payout ratio is 139.69%.
Analyst Ratings Changes
A number of analysts have issued reports on ENB shares. National Bankshares reissued a "sector perform" rating on shares of Enbridge in a research report on Monday, May 12th. Raymond James raised Enbridge to a "moderate buy" rating in a research note on Wednesday, April 23rd. Citigroup assumed coverage on Enbridge in a research report on Friday, April 4th. They issued a "buy" rating for the company. Royal Bank of Canada reissued an "outperform" rating and set a $67.00 price target on shares of Enbridge in a research report on Monday, May 12th. Finally, BMO Capital Markets restated a "market perform" rating on shares of Enbridge in a report on Monday, May 12th. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat, Enbridge presently has an average rating of "Hold" and an average price target of $67.00.
View Our Latest Research Report on ENB
About Enbridge
(
Free Report)
Enbridge Inc, together with its subsidiaries, operates as an energy infrastructure company. The company operates through five segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution and Storage, Renewable Power Generation, and Energy Services. The Liquids Pipelines segment operates pipelines and related terminals to transport various grades of crude oil and other liquid hydrocarbons in Canada and the United States.
Further Reading
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