Enbridge Inc (ENB) Shares Sold by Gabelli Funds LLC
Gabelli Funds LLC reduced its stake in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 6.4% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 969,472 shares of the pipeline company’s stock after selling 66,740 shares during the quarter. Gabelli Funds LLC owned approximately 0.06% of Enbridge worth $40,563,000 at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. NEXT Financial Group Inc increased its position in Enbridge by 17.7% during the 2nd quarter. NEXT Financial Group Inc now owns 2,731 shares of the pipeline company’s stock valued at $109,000 after purchasing an additional 411 shares during the period. First Personal Financial Services grew its position in shares of Enbridge by 16.4% in the 2nd 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 period. Welch Group LLC purchased a new stake in shares of Enbridge in the 2nd quarter worth about $121,000. San Francisco Sentry Investment Group CA purchased a new stake in shares of Enbridge in the 2nd quarter worth about $159,000. Finally, Bbva Compass Bancshares Inc. grew its position in shares of Enbridge by 20.4% in the 2nd quarter. Bbva Compass Bancshares Inc. now owns 4,440 shares of the pipeline company’s stock worth $177,000 after buying an additional 752 shares during the period. 61.49% of the stock is currently owned by institutional investors and hedge funds.
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Enbridge Inc (NYSE ENB) traded down $0.10 on Tuesday, reaching $36.72. 661,804 shares of the company’s stock traded hands, compared to its average volume of 2,230,000. The company has a quick ratio of 0.50, a current ratio of 0.64 and a debt-to-equity ratio of 1.06. The company has a market cap of $60,750.00, a PE ratio of 23.83, a P/E/G ratio of 2.11 and a beta of 0.64. Enbridge Inc has a 1-year low of $36.49 and a 1-year high of $44.51.
Enbridge (NYSE:ENB) (TSE:ENB) last posted its earnings results on Thursday, November 2nd. The pipeline company reported $0.39 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.36 by $0.03. The business 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 quarter in the prior year, the business earned $0.47 EPS. research analysts forecast that Enbridge Inc will post 1.65 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Wednesday, November 15th will be paid a dividend of $0.474 per share. The ex-dividend date of this dividend is Tuesday, November 14th. This represents a $1.90 annualized dividend and a yield of 5.16%. This is a boost from Enbridge’s previous quarterly dividend of $0.33. Enbridge’s dividend payout ratio is currently 127.92%.
ENB has been the topic of a number of recent research reports. Zacks Investment Research downgraded shares of Enbridge from a “hold” rating to a “sell” rating in a research report on Tuesday, October 31st. GMP Securities downgraded shares of Enbridge from a “buy” rating to a “hold” rating in a research report on Tuesday, October 17th. BidaskClub downgraded shares of Enbridge from a “sell” rating to a “strong sell” rating in a research report on Friday, August 11th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and issued a $44.00 target price (down from $45.00) on shares of Enbridge in a research report on Friday, July 14th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $52.33.
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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