Principal Street Partners LLC lifted its holdings in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 3.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,790 shares of the pipeline company’s stock after purchasing an additional 297 shares during the period. Principal Street Partners LLC’s holdings in Enbridge were worth $349,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in ENB. Isthmus Partners LLC bought a new stake in shares of Enbridge during the 2nd quarter worth $26,000. Mascoma Wealth Management LLC bought a new stake in shares of Enbridge during the 3rd quarter worth $26,000. BDO Wealth Advisors LLC raised its stake in shares of Enbridge by 222.4% during the 2nd quarter. BDO Wealth Advisors LLC now owns 793 shares of the pipeline company’s stock worth $32,000 after purchasing an additional 547 shares during the period. Glassman Wealth Services raised its stake in shares of Enbridge by 84.3% during the 3rd quarter. Glassman Wealth Services now owns 846 shares of the pipeline company’s stock worth $34,000 after purchasing an additional 387 shares during the period. Finally, Meeder Asset Management Inc. raised its stake in shares of Enbridge by 62.0% during the 3rd quarter. Meeder Asset Management Inc. now owns 1,087 shares of the pipeline company’s stock worth $43,000 after purchasing an additional 416 shares during the period. Institutional investors own 48.35% of the company’s stock.
A number of research firms have recently commented on ENB. TD Securities lifted their target price on Enbridge from C$55.00 to C$57.00 and gave the stock a “buy” rating in a research note on Monday, November 8th. Raymond James initiated coverage on Enbridge in a report on Wednesday, December 22nd. They issued a “market perform” rating for the company. Credit Suisse Group lowered Enbridge from an “outperform” rating to a “neutral” rating and set a $56.00 price objective for the company. in a report on Monday, October 25th. Wells Fargo & Company lifted their price objective on Enbridge from $53.00 to $56.00 and gave the stock an “overweight” rating in a report on Wednesday, September 29th. Finally, CIBC lifted their price objective on Enbridge from C$55.00 to C$57.00 in a report on Tuesday. Six research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $53.40.
ENB stock opened at $41.71 on Friday. The firm has a market capitalization of $84.50 billion, a PE ratio of 18.81, a PEG ratio of 2.84 and a beta of 0.86. The company has a quick ratio of 0.46, a current ratio of 0.55 and a debt-to-equity ratio of 1.14. The stock has a 50-day simple moving average of $39.20 and a two-hundred day simple moving average of $39.81. Enbridge Inc. has a twelve month low of $33.41 and a twelve month high of $43.35.
Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings results on Friday, November 5th. The pipeline company reported $0.47 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.46 by $0.01. The firm had revenue of $9.11 billion during the quarter, compared to the consensus estimate of $9.68 billion. Enbridge had a return on equity of 9.76% and a net margin of 13.47%. During the same quarter last year, the company posted $0.36 EPS. On average, equities research analysts anticipate that Enbridge Inc. will post 2.23 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 1st. Stockholders of record on Tuesday, February 15th will be given a dividend of $0.673 per share. The ex-dividend date of this dividend is Monday, February 14th. This represents a $2.69 dividend on an annualized basis and a dividend yield of 6.45%. Enbridge’s dividend payout ratio (DPR) is presently 120.27%.
Enbridge, Inc engages in the provision of gas and oil businesses. It operates through the following segments: Liquid Pipelines, Gas Distribution & Storage, Gas Transmission & Midstream, Renewable Power Generation, and Energy Services. The Liquids Pipelines segment consists of common carrier and contract crude oil, natural gas liquids and refined products pipelines and terminals in Canada and U.S., including Canadian Mainline, Regional Oil Sands System, Southern Lights Pipeline, Spearhead Pipeline, Seaway Crude Pipeline interest, and other feeder pipelines.
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