UBS Asset Management Americas Inc. raised its stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 3.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,045,739 shares of the company’s stock after buying an additional 61,891 shares during the period. UBS Asset Management Americas Inc.’s holdings in Enbridge were worth $89,754,000 at the end of the most recent reporting period.
A number of other hedge funds have also bought and sold shares of ENB. Bank of New York Mellon Corp increased its stake in Enbridge by 2.4% in the second quarter. Bank of New York Mellon Corp now owns 1,140,643 shares of the company’s stock valued at $48,318,000 after buying an additional 26,656 shares in the last quarter. Blue Fin Capital Inc. increased its stake in Enbridge by 0.9% in the second quarter. Blue Fin Capital Inc. now owns 33,190 shares of the company’s stock valued at $1,406,000 after buying an additional 300 shares in the last quarter. SL Advisors LLC acquired a new stake in Enbridge during the second quarter valued at $3,151,000. American Century Companies Inc. acquired a new stake in Enbridge during the second quarter valued at $8,818,000. Finally, British Airways Pensions Investment Management Ltd increased its stake in Enbridge by 18.9% in the second quarter. British Airways Pensions Investment Management Ltd now owns 235,390 shares of the company’s stock valued at $9,959,000 after buying an additional 37,400 shares in the last quarter. 71.53% of the stock is owned by institutional investors and hedge funds.
Shares of Enbridge Inc. (NYSE:ENB) opened at 42.77 on Tuesday. The stock has a market cap of $40.14 billion, a PE ratio of 29.25 and a beta of 0.62. The firm has a 50-day moving average of $42.87 and a 200-day moving average of $42.04. Enbridge Inc. has a one year low of $27.43 and a one year high of $45.77.
Enbridge (NYSE:ENB) last released its quarterly earnings results on Thursday, November 3rd. The company reported $0.47 EPS for the quarter, missing analysts’ consensus estimates of $0.49 by $0.02. Enbridge had a return on equity of 14.67% and a net margin of 5.99%. During the same quarter in the previous year, the firm earned $0.47 EPS. On average, equities research 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 dividend of $0.3956 per share. The ex-dividend date of this dividend is Thursday, November 10th. This represents a $1.58 dividend on an annualized basis and a dividend yield of 3.70%. Enbridge’s dividend payout ratio is presently 105.33%.
Several equities analysts have recently commented on the stock. Scotiabank reaffirmed an “outperform” rating and set a $61.00 price objective on shares of Enbridge in a research note on Friday, September 9th. Goldman Sachs Group Inc. raised shares of Enbridge from a “neutral” rating to a “buy” rating and upped their price objective for the company from $43.00 to $48.00 in a research note on Wednesday, September 7th. National Bank Financial raised shares of Enbridge from a “sector perform” rating to an “outperform” rating in a research note on Wednesday, September 7th. Zacks Investment Research downgraded shares of Enbridge from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 8th. Finally, TD Securities reaffirmed a “buy” rating and set a $62.00 price objective on shares of Enbridge in a research note on Sunday, November 6th. Four equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $56.75.
Enbridge Company Profile
Enbridge Inc (Enbridge) is an energy transportation and distribution company. The Company operates through five segments: Liquids Pipelines; Gas Distribution; Gas Pipelines, Processing and Energy Services; Sponsored Investments, and Corporate. The Company operates the crude oil and liquids transportation system in Canada and the United States.