Korea Investment CORP lessened its holdings in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 3.8% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 564,665 shares of the pipeline company’s stock after selling 22,400 shares during the period. Korea Investment CORP’s holdings in Enbridge were worth $23,626,000 at the end of the most recent quarter.
A number of other large investors have also bought and sold shares of ENB. Capital World Investors increased its holdings in shares of Enbridge by 8.2% during the second quarter. Capital World Investors now owns 149,378,598 shares of the pipeline company’s stock worth $5,948,565,000 after buying an additional 11,294,003 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec increased its holdings in shares of Enbridge by 10.9% during the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 43,464,138 shares of the pipeline company’s stock worth $1,818,540,000 after buying an additional 4,256,369 shares in the last quarter. TD Asset Management Inc. increased its holdings in shares of Enbridge by 4.6% during the second quarter. TD Asset Management Inc. now owns 43,401,073 shares of the pipeline company’s stock worth $1,726,420,000 after buying an additional 1,909,405 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Enbridge by 4.5% during the second quarter. Vanguard Group Inc. now owns 40,741,765 shares of the pipeline company’s stock worth $1,621,930,000 after buying an additional 1,758,679 shares in the last quarter. Finally, Capital International Investors increased its holdings in shares of Enbridge by 2.1% during the second quarter. Capital International Investors now owns 38,180,126 shares of the pipeline company’s stock worth $1,520,465,000 after buying an additional 788,202 shares in the last quarter. 60.67% of the stock is owned by hedge funds and other institutional investors.
Several analysts have recently weighed in on the stock. Zacks Investment Research lowered shares of Enbridge from a “hold” rating to a “sell” rating in a report on Tuesday, October 31st. BidaskClub lowered shares of Enbridge from a “sell” rating to a “strong sell” rating in a report on Friday, August 11th. Finally, GMP Securities lowered shares of Enbridge from a “buy” rating to a “hold” rating in a report on Tuesday, October 17th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the stock. Enbridge currently has a consensus rating of “Hold” and an average target price of $52.33.
Shares of Enbridge Inc (NYSE ENB) traded down $0.26 during mid-day trading on Tuesday, reaching $36.22. 2,393,900 shares of the company’s stock were exchanged, compared to its average volume of 4,094,515. The company has a market capitalization of $59,920.00, a PE ratio of 23.69, a PEG ratio of 2.27 and a beta of 0.64. Enbridge Inc has a 1 year low of $36.00 and a 1 year high of $44.51. The company has a current ratio of 0.64, a quick ratio of 0.50 and a debt-to-equity ratio of 1.06.
Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings results on Thursday, November 2nd. The pipeline company reported $0.39 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.03. The company had revenue of $9.23 billion for the quarter, compared to analysts’ expectations of $8.54 billion. Enbridge had a net margin of 7.49% and a return on equity of 5.62%. During the same period last year, the firm posted $0.47 earnings per share. analysts forecast that Enbridge Inc will post 1.53 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Wednesday, November 15th will be given a dividend of $0.474 per share. This represents a $1.90 dividend on an annualized basis and a dividend yield of 5.23%. This is a boost from Enbridge’s previous quarterly dividend of $0.33. The ex-dividend date is Tuesday, November 14th. Enbridge’s dividend payout ratio (DPR) is currently 127.92%.
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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