Caisse DE Depot ET Placement DU Quebec Raises Holdings in Enbridge Inc (ENB)
Caisse DE Depot ET Placement DU Quebec boosted its position in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 0.6% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 46,491,107 shares of the pipeline company’s stock after acquiring an additional 279,597 shares during the quarter. Enbridge comprises about 4.5% of Caisse DE Depot ET Placement DU Quebec’s portfolio, making the stock its 2nd largest position. Caisse DE Depot ET Placement DU Quebec owned about 2.81% of Enbridge worth $1,945,188,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently modified their holdings of ENB. Intercontinental Wealth Advisors LLC purchased a new position in shares of Enbridge in the 2nd quarter valued at about $2,812,000. Global X MANAGEMENT CO LLC increased its stake in Enbridge by 0.6% during the 3rd quarter. Global X MANAGEMENT CO LLC now owns 676,054 shares of the pipeline company’s stock worth $28,286,000 after buying an additional 4,162 shares in the last quarter. Cambridge Investment Research Advisors Inc. increased its stake in Enbridge by 5.3% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 155,772 shares of the pipeline company’s stock worth $6,518,000 after buying an additional 7,820 shares in the last quarter. Scotia Capital Inc. increased its stake in Enbridge by 8.1% during the 2nd quarter. Scotia Capital Inc. now owns 4,590,960 shares of the pipeline company’s stock worth $182,901,000 after buying an additional 344,339 shares in the last quarter. Finally, Sentry Investments Corp. grew its position in shares of Enbridge by 422.2% in the second quarter. Sentry Investments Corp. now owns 3,027,655 shares of the pipeline company’s stock valued at $156,409,000 after purchasing an additional 2,447,900 shares in the last quarter. 62.18% of the stock is owned by institutional investors.
Enbridge Inc (NYSE ENB) traded up $0.02 during trading hours on Tuesday, reaching $38.31. The company’s stock had a trading volume of 3,287,900 shares, compared to its average volume of 4,102,884. The company has a quick ratio of 0.50, a current ratio of 0.64 and a debt-to-equity ratio of 1.06. Enbridge Inc has a one year low of $34.39 and a one year high of $44.51. The firm has a market capitalization of $63,318.22, a PE ratio of 24.86, a price-to-earnings-growth ratio of 2.67 and a beta of 0.64.
Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings results on Thursday, November 2nd. The pipeline company reported $0.39 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.03. Enbridge had a return on equity of 5.62% and a net margin of 7.49%. The company had revenue of $9.23 billion for the quarter, compared to analysts’ expectations of $8.54 billion. During the same period in the prior year, the firm earned $0.47 earnings per share. equities analysts predict that Enbridge Inc will post 1.55 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, March 1st. Shareholders of record on Thursday, February 15th will be paid a dividend of $0.5278 per share. This represents a $2.11 dividend on an annualized basis and a yield of 5.51%. This is a boost from Enbridge’s previous quarterly dividend of $0.47. The ex-dividend date of this dividend is Wednesday, February 14th. Enbridge’s dividend payout ratio is 119.50%.
A number of research firms have recently issued reports on ENB. GMP Securities lowered Enbridge from a “buy” rating to a “hold” rating in a research report on Tuesday, October 17th. BidaskClub upgraded Enbridge from a “strong sell” rating to a “sell” rating in a research report on Friday, August 25th. Zacks Investment Research lowered Enbridge from a “hold” rating to a “sell” rating in a research report on Tuesday, October 31st. Canaccord Genuity restated a “buy” rating and issued a $54.00 price target on shares of Enbridge in a research report on Thursday, November 30th. Finally, Morgan Stanley dropped their price target on Enbridge from $43.00 to $41.00 and set an “equal weight” rating for the company in a research report on Friday, November 17th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company’s stock. Enbridge has a consensus rating of “Hold” and a consensus target price of $52.00.
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Enbridge Company Profile
Enbridge Inc is a Canada-based energy transportation and distribution company. The Company is engaged in delivering energy. It operates through five segments: Liquids Pipelines, Gas Distribution, Gas Pipelines and Processing, Green Power and Transmission, and Energy Services. Liquids Pipelines consists of common carrier and contract crude oil, natural gas liquids (NGL), and refined products pipelines and terminals, including Canadian Mainline, Lakehead Pipeline System, Mid-Continent and Gulf Coast and Regional Oil Sands System.
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