Cohen & Steers Inc. Purchases 178,796 Shares of Enbridge Inc (ENB)
Cohen & Steers Inc. boosted its position in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 12.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,643,087 shares of the pipeline company’s stock after acquiring an additional 178,796 shares during the period. Cohen & Steers Inc. owned 0.10% of Enbridge worth $68,475,000 at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of the stock. First Personal Financial Services boosted its holdings in Enbridge by 16.4% during the second quarter. First Personal Financial Services now owns 2,825 shares of the pipeline company’s stock worth $112,000 after buying an additional 397 shares during the last quarter. Spectrum Management Group Inc. bought a new position in Enbridge during the third quarter worth about $113,000. Welch Group LLC bought a new position in Enbridge during the second quarter worth about $121,000. San Francisco Sentry Investment Group CA bought a new position in Enbridge during the second quarter worth about $159,000. Finally, NEXT Financial Group Inc boosted its holdings in Enbridge by 53.6% during the third quarter. NEXT Financial Group Inc now owns 4,196 shares of the pipeline company’s stock worth $174,000 after buying an additional 1,465 shares during the last quarter. Institutional investors and hedge funds own 62.18% of the company’s stock.
ENB has been the topic of a number of recent analyst reports. Zacks Investment Research cut Enbridge from a “hold” rating to a “sell” rating in a report on Tuesday, October 31st. BidaskClub upgraded Enbridge from a “strong sell” rating to a “sell” rating in a report on Friday, August 25th. GMP Securities cut Enbridge from a “buy” rating to a “hold” rating in a report on Tuesday, October 17th. Morgan Stanley reduced their target price on Enbridge from $43.00 to $41.00 and set an “equal weight” rating on the stock in a report on Friday, November 17th. Finally, Canaccord Genuity restated a “buy” rating and set a $54.00 target price on shares of Enbridge in a report on Thursday, November 30th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company’s stock. Enbridge has an average rating of “Hold” and a consensus price target of $52.00.
Shares of Enbridge Inc (ENB) opened at $38.34 on Friday. The company has a market capitalization of $63,582.81, a PE ratio of 24.97, a PEG ratio of 2.68 and a beta of 0.64. 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 Inc has a 1 year low of $34.39 and a 1 year high of $44.51.
Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings results on Thursday, November 2nd. The pipeline company reported $0.39 EPS for the quarter, topping the Zacks’ consensus estimate of $0.36 by $0.03. The company had revenue of $9.23 billion for the quarter, compared to analyst estimates of $8.54 billion. Enbridge had a return on equity of 5.62% and a net margin of 7.49%. During the same quarter last year, the firm posted $0.47 earnings per share. research analysts forecast that Enbridge Inc will post 1.55 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 1st. Stockholders of record on Thursday, February 15th will be given a dividend of $0.5278 per share. The ex-dividend date is Wednesday, February 14th. This represents a $2.11 dividend on an annualized basis and a dividend yield of 5.51%. This is a positive change from Enbridge’s previous quarterly dividend of $0.47. Enbridge’s dividend payout ratio (DPR) is currently 120.76%.
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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