QCI Asset Management Inc. NY Acquires 8,583 Shares of Enbridge Inc (ENB)
QCI Asset Management Inc. NY boosted its holdings in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 3.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 276,769 shares of the pipeline company’s stock after purchasing an additional 8,583 shares during the period. QCI Asset Management Inc. NY’s holdings in Enbridge were worth $11,580,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in ENB. NEXT Financial Group Inc raised its holdings in shares of Enbridge by 17.7% during the second quarter. NEXT Financial Group Inc now owns 2,731 shares of the pipeline company’s stock valued at $109,000 after acquiring an additional 411 shares during the period. First Personal Financial Services raised its holdings in shares of Enbridge by 16.4% during the second quarter. First Personal Financial Services now owns 2,825 shares of the pipeline company’s stock valued at $112,000 after acquiring an additional 397 shares during the period. Welch Group LLC acquired a new stake in shares of Enbridge during the second quarter valued at approximately $121,000. San Francisco Sentry Investment Group CA acquired a new stake in shares of Enbridge during the second quarter valued at approximately $159,000. Finally, Bbva Compass Bancshares Inc. raised its holdings in shares of Enbridge by 20.4% during the second quarter. Bbva Compass Bancshares Inc. now owns 4,440 shares of the pipeline company’s stock valued at $177,000 after acquiring an additional 752 shares during the period. 60.67% of the stock is owned by institutional investors and hedge funds.
A number of research firms have recently issued reports on ENB. Zacks Investment Research upgraded shares of Enbridge from a “sell” rating to a “hold” rating in a report on Wednesday, November 8th. BidaskClub lowered shares of Enbridge from a “sell” rating to a “strong sell” rating in a report on Friday, August 11th. Finally, GMP Securities lowered shares of Enbridge from a “buy” rating to a “hold” rating in a research note on Tuesday, October 17th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company. The company has an average rating of “Hold” and an average target price of $52.33.
Enbridge Inc (NYSE:ENB) traded down $0.16 during trading on Monday, reaching $36.48. 2,128,700 shares of the company’s stock traded hands, compared to its average volume of 4,102,315. The firm has a market cap of $59,920.00, a price-to-earnings ratio of 23.69, a PEG ratio of 2.27 and a beta of 0.64. The company has a current ratio of 0.64, a quick ratio of 0.50 and a debt-to-equity ratio of 1.06. Enbridge Inc has a 1 year low of $36.33 and a 1 year high of $44.51.
Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings data on Thursday, November 2nd. The pipeline company reported $0.39 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.36 by $0.03. The firm had revenue of $9.23 billion for 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 in the prior year, the business earned $0.47 EPS. research analysts expect that Enbridge Inc will post 1.53 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Wednesday, November 15th will be paid a $0.474 dividend. This represents a $1.90 annualized dividend and a yield of 5.20%. The ex-dividend date of this dividend is Tuesday, November 14th. This is a positive change from Enbridge’s previous quarterly dividend of $0.33. Enbridge’s dividend payout ratio is currently 127.92%.
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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