Parametric Portfolio Associates LLC cut its position in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 1.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,042,947 shares of the pipeline company’s stock after selling 11,117 shares during the quarter. Parametric Portfolio Associates LLC’s holdings in Enbridge were worth $36,587,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently made changes to their positions in ENB. Alberta Investment Management Corp boosted its holdings in Enbridge by 180.7% during the third quarter. Alberta Investment Management Corp now owns 5,289,155 shares of the pipeline company’s stock valued at $185,760,000 after acquiring an additional 3,405,100 shares during the period. Renaissance Technologies LLC boosted its stake in Enbridge by 288.8% during the 2nd quarter. Renaissance Technologies LLC now owns 3,784,001 shares of the pipeline company’s stock valued at $136,566,000 after purchasing an additional 2,810,630 shares during the period. Commonwealth Bank of Australia boosted its stake in Enbridge by 1,462.6% during the 2nd quarter. Commonwealth Bank of Australia now owns 2,325,341 shares of the pipeline company’s stock valued at $84,009,000 after purchasing an additional 2,176,532 shares during the period. National Pension Service acquired a new stake in Enbridge in the 2nd quarter valued at approximately $98,372,000. Finally, Bank of America Corp DE grew its holdings in Enbridge by 25.4% in the 2nd quarter. Bank of America Corp DE now owns 7,249,206 shares of the pipeline company’s stock valued at $261,551,000 after buying an additional 1,466,849 shares during the last quarter. Hedge funds and other institutional investors own 53.77% of the company’s stock.
Several research analysts have commented on the company. UBS Group raised Enbridge from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $50.00 to $54.00 in a research report on Monday, November 25th. ValuEngine raised Enbridge from a “strong sell” rating to a “sell” rating in a research report on Tuesday. Barclays downgraded shares of Enbridge from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $52.00 to $51.00 in a research note on Tuesday, October 15th. CIBC dropped their target price on shares of Enbridge from $57.00 to $56.00 in a research report on Wednesday, October 23rd. Finally, Evercore ISI reiterated a “hold” rating and set a $48.00 target price on shares of Enbridge in a research note on Tuesday, November 12th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the stock. Enbridge currently has a consensus rating of “Hold” and an average target price of $46.34.
Shares of ENB opened at $37.83 on Tuesday. The stock’s 50-day moving average price is $37.07 and its 200 day moving average price is $35.57. The company has a quick ratio of 0.50, a current ratio of 0.59 and a debt-to-equity ratio of 0.94. The firm has a market capitalization of $76.91 billion, a price-to-earnings ratio of 18.81, a P/E/G ratio of 2.86 and a beta of 0.61. Enbridge Inc has a 12-month low of $28.82 and a 12-month high of $38.77.
Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings data on Friday, November 8th. The pipeline company reported $0.42 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.42. Enbridge had a return on equity of 8.31% and a net margin of 12.07%. The company had revenue of $8.79 billion during the quarter, compared to the consensus estimate of $11.65 billion. During the same quarter last year, the company earned $0.55 EPS. Equities research analysts expect that Enbridge Inc will post 2.08 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Sunday, December 1st. Investors of record on Friday, November 15th were paid a $0.561 dividend. This represents a $2.24 dividend on an annualized basis and a dividend yield of 5.93%. This is a positive change from Enbridge’s previous quarterly dividend of $0.56. The ex-dividend date was Thursday, November 14th. Enbridge’s dividend payout ratio is presently 108.78%.
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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