Cobblestone Capital Advisors LLC NY reduced its position in Enbridge Inc. (NYSE:ENB – Free Report) (TSE:ENB) by 19.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,968 shares of the pipeline company’s stock after selling 2,947 shares during the period. Cobblestone Capital Advisors LLC NY’s holdings in Enbridge were worth $486,000 at the end of the most recent quarter.
Other large investors also recently modified their holdings of the company. Cibc World Market Inc. grew its stake in Enbridge by 12.8% during the 2nd quarter. Cibc World Market Inc. now owns 32,531,675 shares of the pipeline company’s stock valued at $1,157,802,000 after purchasing an additional 3,693,495 shares in the last quarter. CIBC Asset Management Inc grew its position in shares of Enbridge by 4.0% during the third quarter. CIBC Asset Management Inc now owns 24,161,024 shares of the pipeline company’s stock worth $984,205,000 after buying an additional 936,863 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC increased its stake in shares of Enbridge by 3.7% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 23,083,951 shares of the pipeline company’s stock worth $821,331,000 after buying an additional 827,540 shares during the last quarter. Toronto Dominion Bank raised its holdings in Enbridge by 3.6% in the second quarter. Toronto Dominion Bank now owns 18,703,423 shares of the pipeline company’s stock valued at $665,655,000 after acquiring an additional 644,526 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its stake in Enbridge by 27.8% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 12,278,739 shares of the pipeline company’s stock valued at $498,734,000 after acquiring an additional 2,668,692 shares during the last quarter. 54.60% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several equities research analysts have recently weighed in on ENB shares. Morgan Stanley initiated coverage on shares of Enbridge in a research report on Friday, October 25th. They issued an “equal weight” rating for the company. Wells Fargo & Company raised Enbridge from an “underweight” rating to an “equal weight” rating in a report on Wednesday, November 6th. Finally, Jefferies Financial Group downgraded Enbridge from a “buy” rating to a “hold” rating in a report on Monday, September 30th.
Enbridge Stock Up 1.1 %
Shares of NYSE:ENB opened at $43.38 on Monday. The company’s fifty day moving average is $41.62 and its two-hundred day moving average is $38.89. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.54 and a current ratio of 0.62. Enbridge Inc. has a 1-year low of $32.85 and a 1-year high of $43.70. The stock has a market capitalization of $94.48 billion, a price-to-earnings ratio of 20.08, a price-to-earnings-growth ratio of 4.26 and a beta of 0.93.
Enbridge (NYSE:ENB – Get Free Report) (TSE:ENB) last released its quarterly earnings data on Friday, November 1st. The pipeline company reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.15. The firm had revenue of $10.91 billion for the quarter, compared to analyst estimates of $4.54 billion. Enbridge had a net margin of 13.54% and a return on equity of 9.94%. During the same quarter in the prior year, the business earned $0.46 earnings per share. Equities analysts anticipate that Enbridge Inc. will post 2.04 EPS for the current year.
Enbridge Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Sunday, December 1st. Shareholders of record on Friday, November 15th were given a $0.676 dividend. The ex-dividend date of this dividend was Friday, November 15th. This is a positive change from Enbridge’s previous quarterly dividend of $0.67. This represents a $2.70 annualized dividend and a yield of 6.23%. Enbridge’s dividend payout ratio (DPR) is currently 121.76%.
Enbridge Profile
Enbridge Inc, together with its subsidiaries, 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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