State of Wisconsin Investment Board Has $79.57 Million Position in Enbridge Inc (ENB)
State of Wisconsin Investment Board lowered its holdings in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 1.1% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,909,348 shares of the pipeline company’s stock after selling 21,074 shares during the period. State of Wisconsin Investment Board owned about 0.12% of Enbridge worth $79,571,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also modified their holdings of ENB. Prudential Financial Inc. purchased a new position in Enbridge in the first quarter valued at about $403,000. Dimensional Fund Advisors LP lifted its holdings in Enbridge by 233.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 651,115 shares of the pipeline company’s stock worth $27,236,000 after buying an additional 456,092 shares during the last quarter. BlackRock Inc. bought a new position in Enbridge during the 1st quarter worth approximately $284,463,000. United Capital Financial Advisers LLC bought a new position in Enbridge during the 1st quarter worth approximately $2,422,000. Finally, Capital Investment Counsel Inc bought a new position in Enbridge during the 1st quarter worth approximately $256,000. 61.49% of the stock is owned by hedge funds and other institutional investors.
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ENB has been the topic of a number of research analyst reports. Zacks Investment Research downgraded Enbridge from a “hold” rating to a “sell” rating in a report on Tuesday, July 11th. Morgan Stanley reaffirmed an “equal weight” rating and set a $44.00 target price (down previously from $45.00) on shares of Enbridge in a report on Friday, July 14th. BidaskClub downgraded Enbridge from a “sell” rating to a “strong sell” rating in a report on Friday, August 11th. Finally, GMP Securities downgraded Enbridge from a “buy” rating to a “hold” rating in a report on Tuesday, October 17th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company. Enbridge has an average rating of “Hold” and an average target price of $56.00.
Shares of Enbridge Inc (ENB) traded up $0.14 during midday trading on Monday, hitting $36.83. The company had a trading volume of 718,097 shares, compared to its average volume of 2,353,124. The company has a market cap of $60,672.38, a P/E ratio of 23.83, a price-to-earnings-growth ratio of 2.11 and a beta of 0.65. Enbridge Inc has a 1-year low of $36.49 and a 1-year high of $44.51. 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 (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings results on Thursday, November 2nd. The pipeline company reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.03. The business had revenue of $9.23 billion for 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 last year, the business posted $0.47 EPS. equities research analysts forecast that Enbridge Inc will post 1.65 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Wednesday, November 15th will be issued a $0.474 dividend. This is an increase from Enbridge’s previous quarterly dividend of $0.33. The ex-dividend date is Tuesday, November 14th. This represents a $1.90 annualized dividend and a dividend yield of 5.15%. Enbridge’s dividend payout ratio (DPR) is 123.90%.
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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