Catalyst Capital Advisors LLC decreased its position in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 1.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 250,111 shares of the pipeline company’s stock after selling 3,590 shares during the quarter. Catalyst Capital Advisors LLC’s holdings in Enbridge were worth $8,774,000 as of its most recent SEC filing.
Other large investors have also recently added to or reduced their stakes in the company. Pettyjohn Wood & White Inc. increased its position in Enbridge by 0.5% during the third quarter. Pettyjohn Wood & White Inc. now owns 59,347 shares of the pipeline company’s stock worth $2,082,000 after acquiring an additional 283 shares during the period. Haverford Trust Co. increased its position in Enbridge by 3.8% during the third quarter. Haverford Trust Co. now owns 7,807 shares of the pipeline company’s stock worth $274,000 after acquiring an additional 288 shares during the period. Asset Dedication LLC increased its position in Enbridge by 22.2% during the third quarter. Asset Dedication LLC now owns 1,623 shares of the pipeline company’s stock worth $56,000 after acquiring an additional 295 shares during the period. Lcnb Corp increased its position in Enbridge by 1.0% during the second quarter. Lcnb Corp now owns 30,021 shares of the pipeline company’s stock worth $1,083,000 after acquiring an additional 308 shares during the period. Finally, First Citizens Bank & Trust Co. increased its position in Enbridge by 2.8% during the third quarter. First Citizens Bank & Trust Co. now owns 11,766 shares of the pipeline company’s stock worth $413,000 after acquiring an additional 316 shares during the period. 54.18% of the stock is currently owned by institutional investors.
ENB opened at $37.76 on Tuesday. Enbridge Inc has a fifty-two week low of $28.82 and a fifty-two week high of $38.04. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.63 and a quick ratio of 0.53. The firm’s fifty day moving average price is $35.97 and its two-hundred day moving average price is $35.48. The company has a market capitalization of $75.84 billion, a P/E ratio of 18.42, a P/E/G ratio of 2.84 and a beta of 0.58.
Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings results on Friday, November 8th. The pipeline company reported $0.42 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.42. Enbridge had a net margin of 12.07% and a return on equity of 8.29%. The firm had revenue of $8.79 billion for the quarter, compared to the consensus estimate of $11.65 billion. During the same quarter in the previous year, the company earned $0.55 earnings per share. On average, 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. Shareholders 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 dividend on an annualized basis and a yield of 5.94%. This is an increase from Enbridge’s previous quarterly dividend of $0.56. Enbridge’s payout ratio is currently 107.80%.
A number of equities analysts recently issued reports on the stock. CIBC dropped their target price on shares of Enbridge from $57.00 to $56.00 in a research report on Wednesday, October 23rd. Scotiabank raised shares of Enbridge from a “sector perform” rating to an “outperform” rating in a research report on Thursday, October 10th. ValuEngine lowered shares of Enbridge from a “sell” rating to a “strong sell” rating in a research report on Friday, November 1st. Goldman Sachs Group assumed coverage on shares of Enbridge in a research report on Thursday, July 18th. They set a “neutral” rating on the stock. Finally, US Capital Advisors reaffirmed an “overweight” rating on shares of Enbridge in a research report on Friday, October 25th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $45.68.
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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