Comerica Bank Has $8.75 Million Stake in Enbridge Inc (ENB)
Comerica Bank lifted its stake in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 1.1% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 226,779 shares of the pipeline company’s stock after acquiring an additional 2,399 shares during the period. Comerica Bank’s holdings in Enbridge were worth $8,750,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors also recently bought and sold shares of ENB. Prudential Financial Inc. purchased a new position in shares of Enbridge during the 1st quarter worth $403,000. Dimensional Fund Advisors LP raised its holdings in shares of Enbridge by 233.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 651,115 shares of the pipeline company’s stock worth $27,236,000 after acquiring an additional 456,092 shares during the period. America First Investment Advisors LLC raised its holdings in shares of Enbridge by 1.4% during the 2nd quarter. America First Investment Advisors LLC now owns 355,740 shares of the pipeline company’s stock worth $14,162,000 after acquiring an additional 4,836 shares during the period. Country Club Trust Company n.a. raised its holdings in shares of Enbridge by 16.5% during the 2nd quarter. Country Club Trust Company n.a. now owns 7,393 shares of the pipeline company’s stock worth $294,000 after acquiring an additional 1,047 shares during the period. Finally, Family Legacy Inc. raised its holdings in shares of Enbridge by 1.2% during the 2nd quarter. Family Legacy Inc. now owns 5,781 shares of the pipeline company’s stock worth $230,000 after acquiring an additional 68 shares during the period. Institutional investors and hedge funds own 60.67% of the company’s stock.
Shares of Enbridge Inc (ENB) traded up $0.66 during trading on Friday, hitting $35.16. The stock had a trading volume of 5,706,052 shares, compared to its average volume of 4,108,725. Enbridge Inc has a 1-year low of $34.39 and a 1-year high of $44.51. The firm has a market capitalization of $57,050.00, a P/E ratio of 22.71, a PEG ratio of 2.48 and a beta of 0.64. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.50 and a current ratio of 0.64.
Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings data 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. Enbridge had a return on equity of 5.62% and a net margin of 7.49%. The business had revenue of $9.23 billion during the quarter, compared to the consensus estimate of $8.54 billion. During the same period in the previous year, the company posted $0.47 earnings per share. analysts forecast that Enbridge Inc will post 1.53 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Wednesday, November 15th will be issued a $0.474 dividend. This represents a $1.90 dividend on an annualized basis and a yield of 5.39%. This is an increase from Enbridge’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend is Tuesday, November 14th. Enbridge’s dividend payout ratio is 124.18%.
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Several analysts recently issued reports on the stock. Morgan Stanley reduced their price objective on shares of Enbridge from $43.00 to $41.00 and set an “equal weight” rating on the stock in a report on Friday. BidaskClub upgraded shares of Enbridge from a “strong sell” rating to a “sell” rating in a report on Friday, August 25th. Zacks Investment Research upgraded shares of Enbridge from a “sell” rating to a “hold” rating in a report on Wednesday, November 8th. 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 given a hold rating and two have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $51.33.
Enbridge Company Profile
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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