Gamco Investors INC. ET AL Sells 1,582 Shares of Enbridge Inc (ENB)
Gamco Investors INC. ET AL decreased its holdings in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 3.1% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 49,982 shares of the pipeline company’s stock after selling 1,582 shares during the quarter. Gamco Investors INC. ET AL’s holdings in Enbridge were worth $2,091,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Capital World Investors lifted its position in Enbridge by 8.2% in the 2nd quarter. Capital World Investors now owns 149,378,598 shares of the pipeline company’s stock valued at $5,948,565,000 after acquiring an additional 11,294,003 shares in the last quarter. TD Asset Management Inc. lifted its position in Enbridge by 4.6% in the 2nd quarter. TD Asset Management Inc. now owns 43,401,073 shares of the pipeline company’s stock valued at $1,726,420,000 after acquiring an additional 1,909,405 shares in the last quarter. Vanguard Group Inc. lifted its position in Enbridge by 4.5% in the 2nd quarter. Vanguard Group Inc. now owns 40,741,765 shares of the pipeline company’s stock valued at $1,621,930,000 after acquiring an additional 1,758,679 shares in the last quarter. Capital International Investors lifted its position in Enbridge by 2.1% in the 2nd quarter. Capital International Investors now owns 38,180,126 shares of the pipeline company’s stock valued at $1,520,465,000 after acquiring an additional 788,202 shares in the last quarter. Finally, Jarislowsky Fraser Ltd lifted its position in Enbridge by 12.9% in the 2nd quarter. Jarislowsky Fraser Ltd now owns 22,233,563 shares of the pipeline company’s stock valued at $884,413,000 after acquiring an additional 2,535,941 shares in the last quarter. 60.67% of the stock is currently owned by institutional investors and hedge funds.
Shares of Enbridge Inc (NYSE ENB) opened at $36.22 on Tuesday. 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 cap of $60,325.12, a PE ratio of 23.69, a price-to-earnings-growth ratio of 2.27 and a beta of 0.65. Enbridge Inc has a one year low of $36.00 and a one year high of $44.51.
Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings data on Thursday, November 2nd. The pipeline company reported $0.39 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.36 by $0.03. The firm had revenue of $9.23 billion during the quarter, compared to analyst estimates of $8.54 billion. Enbridge had a net margin of 7.49% and a return on equity of 5.62%. During the same quarter last year, the business posted $0.47 EPS. equities research analysts forecast that Enbridge Inc will post 1.53 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Wednesday, November 15th will be paid a dividend of $0.474 per share. The ex-dividend date is Tuesday, November 14th. This represents a $1.90 annualized dividend and a dividend yield of 5.23%. This is a positive change from Enbridge’s previous quarterly dividend of $0.33. Enbridge’s dividend payout ratio (DPR) is presently 123.90%.
Several equities research analysts have commented on ENB shares. GMP Securities lowered shares of Enbridge from a “buy” rating to a “hold” rating in a research note on Tuesday, October 17th. BidaskClub upgraded shares of Enbridge from a “strong sell” rating to a “sell” rating in a research note on Friday, August 25th. Finally, Zacks Investment Research upgraded shares of Enbridge from a “sell” rating to a “hold” rating in a research note on Wednesday, November 8th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $52.33.
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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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