Montrusco Bolton Investments Inc. lessened its position in shares of Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB by 13.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 767,921 shares of the pipeline company's stock after selling 118,352 shares during the quarter. Montrusco Bolton Investments Inc.'s holdings in Enbridge were worth $33,982,000 as of its most recent SEC filing.
Other hedge funds have also bought and sold shares of the company. Norges Bank purchased a new stake in shares of Enbridge in the 4th quarter valued at $909,415,000. Arrowstreet Capital Limited Partnership boosted its holdings in Enbridge by 396.7% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 12,047,004 shares of the pipeline company's stock worth $510,816,000 after buying an additional 9,621,425 shares in the last quarter. Blackstone Inc. lifted its holdings in Enbridge by 650.7% during the fourth quarter. Blackstone Inc. now owns 5,718,089 shares of the pipeline company's stock valued at $242,619,000 after purchasing an additional 4,956,379 shares in the last quarter. Deutsche Bank AG lifted its holdings in Enbridge by 13.9% during the fourth quarter. Deutsche Bank AG now owns 36,336,212 shares of the pipeline company's stock valued at $1,541,745,000 after purchasing an additional 4,426,684 shares in the last quarter. Finally, Vanguard Group Inc. lifted its holdings in Enbridge by 4.1% during the fourth quarter. Vanguard Group Inc. now owns 91,617,146 shares of the pipeline company's stock valued at $3,888,507,000 after purchasing an additional 3,611,421 shares in the last quarter. Institutional investors and hedge funds own 54.60% of the company's stock.
Wall Street Analyst Weigh In
ENB has been the subject of a number of recent research reports. National Bankshares reiterated a "sector perform" rating on shares of Enbridge in a research report on Monday, May 12th. Wall Street Zen raised shares of Enbridge from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd. Royal Bank Of Canada reissued an "outperform" rating and issued a $67.00 price objective on shares of Enbridge in a research note on Monday, May 12th. Raymond James Financial raised shares of Enbridge to a "moderate buy" rating in a research note on Wednesday, April 23rd. Finally, Citigroup began coverage on shares of Enbridge in a research note on Friday, April 4th. They issued a "buy" rating for the company. Six investment analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat.com, Enbridge presently has an average rating of "Hold" and an average price target of $67.00.
Read Our Latest Stock Report on ENB
Enbridge Stock Down 1.0%
Shares of NYSE:ENB traded down $0.45 during trading on Thursday, hitting $44.80. 3,239,227 shares of the company were exchanged, compared to its average volume of 3,976,181. The stock has a market capitalization of $97.69 billion, a P/E ratio of 23.09, a PEG ratio of 4.25 and a beta of 0.79. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.73 and a quick ratio of 0.66. Enbridge Inc has a 12-month low of $36.06 and a 12-month high of $47.44. The firm's 50 day moving average price is $45.41 and its 200-day moving average price is $44.39.
Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last announced its quarterly earnings data on Friday, May 9th. The pipeline company reported $0.72 EPS for the quarter, topping analysts' consensus estimates of $0.68 by $0.04. Enbridge had a net margin of 10.16% and a return on equity of 10.41%. The company had revenue of $7.27 billion during the quarter, compared to the consensus estimate of $10.20 billion. During the same quarter in the prior year, the firm earned $0.92 EPS. On average, research analysts predict that Enbridge Inc will post 2.14 earnings per share for the current fiscal year.
Enbridge Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Sunday, June 1st. Investors of record on Thursday, May 15th were given a dividend of $0.679 per share. This is a positive change from Enbridge's previous quarterly dividend of $0.67. The ex-dividend date was Thursday, May 15th. This represents a $2.72 annualized dividend and a yield of 6.06%. Enbridge's dividend payout ratio is 140.21%.
Enbridge Company Profile
(
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.
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