Global X Management Co. LLC boosted its stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 9.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 211,309 shares of the company’s stock after buying an additional 17,853 shares during the period. Global X Management Co. LLC’s holdings in Enbridge were worth $9,346,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in ENB. Baker Ellis Asset Management LLC purchased a new position in Enbridge during the third quarter valued at about $102,000. FNY Managed Accounts LLC purchased a new position in Enbridge during the third quarter valued at about $111,000. Cornerstone Advisors Inc. increased its position in Enbridge by 4,143.3% in the third quarter. Cornerstone Advisors Inc. now owns 2,546 shares of the company’s stock valued at $113,000 after buying an additional 2,486 shares during the last quarter. Sunbelt Securities Inc. purchased a new position in Enbridge during the second quarter valued at about $108,000. Finally, MSI Financial Services Inc increased its position in Enbridge by 10.6% in the third quarter. MSI Financial Services Inc now owns 3,638 shares of the company’s stock valued at $161,000 after buying an additional 348 shares during the last quarter. 71.53% of the stock is currently owned by hedge funds and other institutional investors.
Enbridge Inc. (NYSE:ENB) traded down 0.47% during midday trading on Monday, reaching $42.59. The company’s stock had a trading volume of 686,540 shares. Enbridge Inc. has a 52 week low of $27.43 and a 52 week high of $45.77. The company’s 50-day moving average is $42.88 and its 200 day moving average is $41.99. The firm has a market capitalization of $39.98 billion, a P/E ratio of 29.13 and a beta of 0.62.
Enbridge (NYSE:ENB) last posted its earnings results on Thursday, November 3rd. The company reported $0.47 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.49 by $0.02. Enbridge had a net margin of 5.99% and a return on equity of 14.67%. During the same period in the previous year, the firm earned $0.47 EPS. Analysts expect that Enbridge Inc. will post $1.72 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 1st. Investors of record on Tuesday, November 15th will be paid a $0.3956 dividend. The ex-dividend date of this dividend is Thursday, November 10th. This represents a $1.58 annualized dividend and a yield of 3.70%. Enbridge’s payout ratio is 105.33%.
Several equities analysts recently issued reports on the company. Scotiabank reissued an “outperform” rating and issued a $61.00 target price on shares of Enbridge in a research report on Wednesday, August 3rd. TD Securities reissued a “buy” rating and issued a $59.00 target price (up from $58.00) on shares of Enbridge in a research report on Wednesday, August 3rd. RBC Capital Markets reissued an “outperform” rating on shares of Enbridge in a research report on Sunday, September 4th. National Bank Financial raised Enbridge from a “sector perform” rating to an “outperform” rating in a research report on Wednesday, September 7th. Finally, Zacks Investment Research raised Enbridge from a “hold” rating to a “strong-buy” rating and set a $46.00 price target on the stock in a research report on Wednesday, August 3rd. Four analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Enbridge presently has a consensus rating of “Buy” and a consensus price target of $56.75.
Enbridge Company Profile