Livingston Group Asset Management CO operating as Southport Capital Management cut its holdings in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 1.1% during the fourth quarter, Holdings Channel reports. The fund owned 57,470 shares of the pipeline company’s stock after selling 624 shares during the period. Livingston Group Asset Management CO operating as Southport Capital Management’s holdings in Enbridge were worth $1,838,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. NEXT Financial Group Inc grew its position in Enbridge by 3.7% during the 3rd quarter. NEXT Financial Group Inc now owns 13,199 shares of the pipeline company’s stock worth $386,000 after acquiring an additional 467 shares during the last quarter. Acadian Asset Management LLC bought a new stake in Enbridge during the 3rd quarter worth approximately $231,000. Lincluden Management Ltd. lifted its holdings in Enbridge by 5.3% during the 3rd quarter. Lincluden Management Ltd. now owns 2,121,647 shares of the pipeline company’s stock worth $61,982,000 after buying an additional 106,665 shares in the last quarter. Wealth Alliance lifted its holdings in Enbridge by 5.1% during the 3rd quarter. Wealth Alliance now owns 15,464 shares of the pipeline company’s stock worth $452,000 after buying an additional 753 shares in the last quarter. Finally, Barings LLC lifted its holdings in Enbridge by 28.0% during the 3rd quarter. Barings LLC now owns 122,425 shares of the pipeline company’s stock worth $3,575,000 after buying an additional 26,800 shares in the last quarter. Institutional investors and hedge funds own 47.68% of the company’s stock.
ENB has been the topic of several research reports. Royal Bank of Canada reduced their price objective on Enbridge from $58.00 to $52.00 and set an “outperform” rating on the stock in a report on Monday, November 9th. ValuEngine raised Enbridge from a “sell” rating to a “hold” rating in a report on Tuesday, December 1st. CIBC upped their price objective on Enbridge from $47.00 to $53.00 and gave the stock an “outperform” rating in a report on Wednesday. Wells Fargo & Company raised Enbridge from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $44.00 to $46.00 in a research note on Monday, November 30th. Finally, TD Securities cut their price target on Enbridge from $57.00 to $53.00 and set a “buy” rating on the stock in a research note on Monday, November 9th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and fifteen have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $52.19.
Enbridge (NYSE:ENB) (TSE:ENB) last released its earnings results on Friday, November 6th. The pipeline company reported $0.36 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.40 by ($0.04). The firm had revenue of $6.84 billion for the quarter. Enbridge had a return on equity of 8.50% and a net margin of 5.57%. As a group, equities research analysts forecast that Enbridge Inc. will post 1.91 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 1st. Stockholders of record on Friday, February 12th will be issued a $0.6523 dividend. This is a boost from Enbridge’s previous quarterly dividend of $0.62. The ex-dividend date of this dividend is Thursday, February 11th. This represents a $2.61 annualized dividend and a dividend yield of 7.59%. Enbridge’s dividend payout ratio (DPR) is presently 123.00%.
Enbridge Company Profile
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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