Garrison Bradford & Associates Inc. Invests $206,000 in Enbridge Inc (ENB) Stock
Garrison Bradford & Associates Inc. acquired a new position in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 4,920 shares of the pipeline company’s stock, valued at approximately $206,000.
Several other large investors have also recently made changes to their positions in the company. Spectrum Management Group Inc. acquired a new position in Enbridge in the third quarter worth $113,000. First Personal Financial Services boosted its stake in Enbridge by 16.4% in the second quarter. First Personal Financial Services now owns 2,825 shares of the pipeline company’s stock worth $112,000 after purchasing an additional 397 shares in the last quarter. Welch Group LLC acquired a new position in Enbridge in the second quarter worth $121,000. San Francisco Sentry Investment Group CA acquired a new position in Enbridge in the second quarter worth $159,000. Finally, NEXT Financial Group Inc boosted its stake in Enbridge by 53.6% in the third quarter. NEXT Financial Group Inc now owns 4,196 shares of the pipeline company’s stock worth $174,000 after purchasing an additional 1,465 shares in the last quarter. 60.04% of the stock is currently owned by institutional investors.
A number of equities analysts have commented on ENB shares. Zacks Investment Research lowered Enbridge from a “hold” rating to a “sell” rating in a research note on Tuesday, October 31st. GMP Securities lowered Enbridge from a “buy” rating to a “hold” rating in a research note on Tuesday, October 17th. BidaskClub lowered Enbridge from a “sell” rating to a “strong sell” rating in a research note on Friday, August 11th. Finally, Morgan Stanley reduced their price objective on Enbridge from $43.00 to $41.00 and set an “equal weight” rating on the stock in a research note on Friday, November 17th. One 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 a consensus rating of “Hold” and a consensus target price of $51.33.
Shares of Enbridge Inc (NYSE ENB) opened at $37.16 on Monday. The firm has a market capitalization of $61,449.60, a price-to-earnings ratio of 24.13, a PEG ratio of 2.63 and a beta of 0.65. Enbridge Inc has a 52-week low of $34.39 and a 52-week high of $44.51. 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 released its earnings results on Thursday, November 2nd. The pipeline company reported $0.39 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.03. The company had revenue of $9.23 billion during the quarter, compared to the consensus estimate of $8.54 billion. Enbridge had a return on equity of 5.62% and a net margin of 7.49%. During the same quarter in the previous year, the company posted $0.47 earnings per share. research analysts forecast that Enbridge Inc will post 1.53 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Wednesday, November 15th will be given a dividend of $0.474 per share. The ex-dividend date of this dividend is Tuesday, November 14th. This represents a $1.90 dividend on an annualized basis and a dividend yield of 5.10%. This is an increase from Enbridge’s previous quarterly dividend of $0.33. Enbridge’s payout ratio is presently 119.50%.
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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