Squar Milner Financial Services LLC lessened its stake in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 7.5% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 10,541 shares of the pipeline company’s stock after selling 853 shares during the quarter. Squar Milner Financial Services LLC’s holdings in Enbridge were worth $369,000 as of its most recent SEC filing.
Several other hedge funds also recently modified their holdings of ENB. Renaissance Technologies LLC lifted its holdings in shares of Enbridge by 288.8% in the 2nd quarter. Renaissance Technologies LLC now owns 3,784,001 shares of the pipeline company’s stock valued at $136,566,000 after buying an additional 2,810,630 shares during the period. Commonwealth Bank of Australia lifted its holdings in shares of Enbridge by 1,462.6% in 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 buying an additional 2,176,532 shares during the period. National Pension Service acquired a new position in shares of Enbridge in the 2nd quarter valued at about $98,372,000. Bank of America Corp DE lifted its holdings in shares of 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 period. Finally, MUFG Securities EMEA plc lifted its holdings in shares of Enbridge by 239.3% in the 2nd quarter. MUFG Securities EMEA plc now owns 1,800,000 shares of the pipeline company’s stock valued at $64,944,000 after buying an additional 1,269,478 shares during the period. 53.82% of the stock is owned by institutional investors and hedge funds.
ENB has been the subject of several analyst reports. ValuEngine cut Enbridge from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. Goldman Sachs Group initiated coverage on Enbridge in a report on Thursday, July 18th. They issued a “neutral” rating for the company. Barclays cut Enbridge from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $52.00 to $51.00 in a report on Tuesday, October 15th. Scotiabank raised Enbridge from a “sector perform” rating to an “outperform” rating in a report on Thursday, October 10th. Finally, Bank of America cut Enbridge from a “buy” rating to a “neutral” rating and set a $49.00 price target for the company. in a report on Tuesday, July 2nd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the company. Enbridge currently has a consensus rating of “Hold” and an average price target of $44.96.
NYSE ENB traded up $0.18 during trading hours on Wednesday, reaching $36.45. The company’s stock had a trading volume of 275,592 shares, compared to its average volume of 3,300,698. The firm has a market capitalization of $73.29 billion, a price-to-earnings ratio of 17.79, a P/E/G ratio of 2.82 and a beta of 0.57. Enbridge Inc has a 1-year low of $28.82 and a 1-year 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 company’s 50-day moving average is $35.18 and its two-hundred day moving average is $35.52.
Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings results on Friday, August 2nd. The pipeline company reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.42 by $0.08. The company had revenue of $9.92 billion during the quarter. Enbridge had a return on equity of 8.16% and a net margin of 9.97%. Equities analysts forecast that Enbridge Inc will post 2 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st were issued a $0.251 dividend. The ex-dividend date was Monday, September 30th. This represents a $1.00 dividend on an annualized basis and a yield of 2.75%. Enbridge’s payout ratio is 107.80%.
Enbridge Company Profile
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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