Mountain Capital Investment Advisors Inc reduced its position in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 5.3% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 31,224 shares of the pipeline company’s stock after selling 1,736 shares during the quarter. Mountain Capital Investment Advisors Inc’s holdings in Enbridge were worth $1,038,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently modified their holdings of the stock. The Manufacturers Life Insurance Company lifted its position in Enbridge by 33.1% in the third quarter. The Manufacturers Life Insurance Company now owns 29,026,915 shares of the pipeline company’s stock worth $845,328,000 after buying an additional 7,220,481 shares during the last quarter. Jarislowsky Fraser Ltd lifted its position in Enbridge by 6.6% in the third quarter. Jarislowsky Fraser Ltd now owns 27,108,332 shares of the pipeline company’s stock worth $789,457,000 after buying an additional 1,687,560 shares during the last quarter. CIBC Asset Management Inc lifted its position in Enbridge by 5.8% in the third quarter. CIBC Asset Management Inc now owns 21,604,925 shares of the pipeline company’s stock worth $630,656,000 after buying an additional 1,191,599 shares during the last quarter. Blackstone Group Inc lifted its position in Enbridge by 2.7% in the third quarter. Blackstone Group Inc now owns 9,848,295 shares of the pipeline company’s stock worth $287,570,000 after buying an additional 260,658 shares during the last quarter. Finally, FMR LLC lifted its position in Enbridge by 9.9% in the second quarter. FMR LLC now owns 8,710,735 shares of the pipeline company’s stock worth $264,873,000 after buying an additional 785,573 shares during the last quarter. Institutional investors own 47.68% of the company’s stock.
Shares of Enbridge stock opened at $34.60 on Thursday. The firm has a market cap of $70.07 billion, a P/E ratio of 48.73, a P/E/G ratio of 2.81 and a beta of 0.83. The company has a current ratio of 0.55, a quick ratio of 0.44 and a debt-to-equity ratio of 1.04. Enbridge Inc. has a 12 month low of $22.57 and a 12 month high of $43.15. The stock’s fifty day moving average price is $32.73 and its 200-day moving average price is $31.06.
Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings results on Friday, November 6th. The pipeline company reported $0.36 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.04). The firm had revenue of $6.84 billion for the quarter. Enbridge had a net margin of 5.57% and a return on equity of 8.50%. Analysts forecast that Enbridge Inc. will post 1.91 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, March 1st. Stockholders of record on Friday, February 12th will be paid a dividend of $0.6523 per share. The ex-dividend date is Thursday, February 11th. This represents a $2.61 annualized dividend and a dividend yield of 7.54%. This is a positive change from Enbridge’s previous quarterly dividend of $0.62. Enbridge’s dividend payout ratio (DPR) is currently 123.00%.
A number of analysts recently issued reports on the company. CIBC raised their price target on Enbridge from $47.00 to $53.00 and gave the stock an “outperform” rating in a research report on Wednesday. TD Securities lowered their price target on Enbridge from $57.00 to $53.00 and set a “buy” rating for the company in a research report on Monday, November 9th. Stifel Nicolaus decreased their target price on Enbridge from $61.00 to $59.00 and set a “buy” rating for the company in a research report on Monday, November 9th. Wells Fargo & Company upgraded Enbridge from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $44.00 to $46.00 in a research report on Monday, November 30th. Finally, ValuEngine upgraded Enbridge from a “sell” rating to a “hold” rating in a research report on Tuesday, December 1st. Two analysts have rated the stock with a sell rating, two have issued a hold rating and fifteen have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $52.19.
Enbridge Inc 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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