Private Advisor Group LLC boosted its position in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 75.7% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 95,552 shares of the pipeline company’s stock after buying an additional 41,159 shares during the period. Private Advisor Group LLC’s holdings in Enbridge were worth $3,085,000 as of its most recent SEC filing.
A number of other large investors have also recently bought and sold shares of ENB. Toronto Dominion Bank grew its position in Enbridge by 123.0% in the 2nd quarter. Toronto Dominion Bank now owns 9,644,840 shares of the pipeline company’s stock valued at $347,031,000 after buying an additional 5,319,398 shares during the last quarter. Fiera Capital Corp grew its position in Enbridge by 165.9% in the 2nd quarter. Fiera Capital Corp now owns 5,405,278 shares of the pipeline company’s stock valued at $193,266,000 after buying an additional 3,372,119 shares during the last quarter. Addenda Capital Inc. purchased a new position in Enbridge in the 2nd quarter valued at $52,657,000. Tortoise Capital Advisors L.L.C. grew its position in Enbridge by 23.6% in the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 6,757,583 shares of the pipeline company’s stock valued at $241,178,000 after buying an additional 1,291,797 shares during the last quarter. Finally, Mainstay Capital Management LLC ADV boosted its position in shares of Enbridge by 84,382.1% during the 2nd quarter. Mainstay Capital Management LLC ADV now owns 1,086,440 shares of the pipeline company’s stock worth $30,675,000 after purchasing an additional 1,085,154 shares in the last quarter. Hedge funds and other institutional investors own 58.28% of the company’s stock.
ENB has been the topic of several research analyst reports. Bank of America upgraded shares of Enbridge from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $49.00 to $50.00 in a research report on Friday, August 17th. Citigroup restated a “neutral” rating on shares of Enbridge in a research report on Monday, September 24th. Zacks Investment Research upgraded shares of Enbridge from a “hold” rating to a “buy” rating and set a $38.00 target price on the stock in a research report on Monday, October 8th. UBS Group initiated coverage on shares of Enbridge in a research report on Thursday, October 4th. They set a “buy” rating on the stock. Finally, ValuEngine upgraded shares of Enbridge from a “sell” rating to a “hold” rating in a research report on Tuesday, October 2nd. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Enbridge has an average rating of “Buy” and an average target price of $49.17.
Enbridge (NYSE:ENB) (TSE:ENB) last issued its earnings results on Friday, November 2nd. The pipeline company reported $0.42 EPS for the quarter, hitting the consensus estimate of $0.42. The company had revenue of $8.68 billion for the quarter, compared to analyst estimates of $8.28 billion. Enbridge had a net margin of 3.95% and a return on equity of 8.81%. During the same period in the previous year, the firm earned $0.39 EPS. Analysts forecast that Enbridge Inc will post 2.09 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Saturday, December 1st. Stockholders of record on Thursday, November 15th will be paid a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 6.21%. The ex-dividend date is Wednesday, November 14th. Enbridge’s dividend payout ratio (DPR) is presently 132.47%.
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Enbridge Inc operates as an energy infrastructure company in Canada and the United States. The company operates in 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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