Enbridge Inc (ENB) Shares Sold by Tower Bridge Advisors
Tower Bridge Advisors decreased its holdings in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 17.7% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 205,968 shares of the pipeline company’s stock after selling 44,358 shares during the quarter. Tower Bridge Advisors’ holdings in Enbridge were worth $8,618,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also made changes to their positions in the stock. HM Payson & Co. lifted its stake in Enbridge by 2,570.5% in the third quarter. HM Payson & Co. now owns 171,977 shares of the pipeline company’s stock worth $7,196,000 after acquiring an additional 165,537 shares during the period. Sei Investments Co. lifted its stake in Enbridge by 17.4% in the third quarter. Sei Investments Co. now owns 191,716 shares of the pipeline company’s stock worth $8,022,000 after acquiring an additional 28,346 shares during the period. BNP Paribas Arbitrage SA lifted its stake in Enbridge by 497.9% in the third quarter. BNP Paribas Arbitrage SA now owns 117,882 shares of the pipeline company’s stock worth $4,932,000 after acquiring an additional 98,165 shares during the period. HL Financial Services LLC lifted its stake in Enbridge by 8.0% in the third quarter. HL Financial Services LLC now owns 56,890 shares of the pipeline company’s stock worth $2,380,000 after acquiring an additional 4,208 shares during the period. Finally, Global X MANAGEMENT CO LLC lifted its stake in Enbridge by 0.6% in the third quarter. Global X MANAGEMENT CO LLC now owns 676,054 shares of the pipeline company’s stock worth $28,286,000 after acquiring an additional 4,162 shares during the period. 60.67% of the stock is owned by institutional investors.
A number of equities analysts have issued reports on the company. GMP Securities downgraded Enbridge from a “buy” rating to a “hold” rating in a report on Tuesday, October 17th. BidaskClub upgraded Enbridge from a “strong sell” rating to a “sell” rating in a report on Friday, August 25th. Finally, Zacks Investment Research upgraded Enbridge from a “sell” rating to a “hold” rating in a report on Wednesday, November 8th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the stock. Enbridge presently has a consensus rating of “Hold” and a consensus price target of $52.33.
Shares of Enbridge Inc (NYSE:ENB) traded down $0.46 during trading hours on Monday, hitting $36.02. The stock had a trading volume of 742,394 shares, compared to its average volume of 4,102,315. Enbridge Inc has a 1 year low of $36.33 and a 1 year high of $44.51. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.64 and a quick ratio of 0.50. The company has a market capitalization of $59,740.00, a P/E ratio of 23.69, a PEG ratio of 2.27 and a beta of 0.64.
Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings results on Thursday, November 2nd. The pipeline company reported $0.39 earnings per share for the quarter, beating the 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 firm had revenue of $9.23 billion during the quarter, compared to the consensus estimate of $8.54 billion. During the same period last year, the company earned $0.47 earnings per share. analysts expect that Enbridge Inc will post 1.53 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Wednesday, November 15th will be given a dividend of $0.474 per share. The ex-dividend date is Tuesday, November 14th. This is a boost from Enbridge’s previous quarterly dividend of $0.33. This represents a $1.90 annualized dividend and a dividend yield of 5.26%. Enbridge’s dividend payout ratio (DPR) is 127.92%.
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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