ProVise Management Group LLC grew its position in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 2.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 190,152 shares of the pipeline company’s stock after acquiring an additional 4,520 shares during the quarter. ProVise Management Group LLC’s holdings in Enbridge were worth $6,140,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ENB. Toronto Dominion Bank lifted its position in shares of Enbridge by 123.0% in the second quarter. Toronto Dominion Bank now owns 9,644,840 shares of the pipeline company’s stock valued at $347,031,000 after acquiring an additional 5,319,398 shares in the last quarter. Fiera Capital Corp lifted its position in shares of Enbridge by 165.9% in the second quarter. Fiera Capital Corp now owns 5,405,278 shares of the pipeline company’s stock valued at $193,266,000 after acquiring an additional 3,372,119 shares in the last quarter. Addenda Capital Inc. purchased a new position in shares of Enbridge in the second quarter valued at approximately $100,454,000. Tortoise Capital Advisors L.L.C. lifted its position in shares of Enbridge by 23.6% in the second 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 acquiring an additional 1,291,797 shares in the last quarter. Finally, Mainstay Capital Management LLC ADV lifted its position in shares of Enbridge by 84,382.1% in the second quarter. Mainstay Capital Management LLC ADV now owns 1,086,440 shares of the pipeline company’s stock valued at $30,675,000 after acquiring an additional 1,085,154 shares in the last quarter. Institutional investors and hedge funds own 58.28% of the company’s stock.
Several equities analysts have recently weighed in on ENB shares. Morgan Stanley raised their target price on Enbridge from $34.00 to $37.00 and gave the company an “equal weight” rating in a research report on Friday, July 13th. Zacks Investment Research upgraded 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. Citigroup restated a “neutral” rating on shares of Enbridge in a research report on Monday, September 24th. UBS Group started coverage on Enbridge in a research report on Thursday, October 4th. They issued a “buy” rating on the stock. Finally, Wells Fargo & Co upgraded Enbridge from a “market perform” rating to an “outperform” rating in a research report on Monday. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $49.17.
Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings data on Friday, November 2nd. The pipeline company reported $0.42 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.42. Enbridge had a return on equity of 8.80% and a net margin of 3.95%. The firm had revenue of $8.68 billion for the quarter, compared to the consensus estimate of $8.28 billion. During the same quarter last year, the business posted $0.39 earnings per share. On average, analysts predict that Enbridge Inc will post 2.13 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Saturday, December 1st. Investors of record on Thursday, November 15th will be given a dividend of $0.51 per share. The ex-dividend date is Wednesday, November 14th. This represents a $2.04 dividend on an annualized basis and a yield of 6.12%. Enbridge’s payout ratio is 132.47%.
Enbridge Company Profile
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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