Westwood Holdings Group Inc. trimmed its holdings in Enbridge Inc. (NYSE:ENB - Free Report) TSE: ENB by 62.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,628,197 shares of the pipeline company's stock after selling 2,761,123 shares during the period. Westwood Holdings Group Inc. owned about 0.08% of Enbridge worth $58,661,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its position in shares of Enbridge by 5.7% during the third quarter. Vanguard Group Inc. now owns 81,491,857 shares of the pipeline company's stock worth $2,704,715,000 after buying an additional 4,400,848 shares during the period. TD Asset Management Inc boosted its position in Enbridge by 24.9% during the fourth quarter. TD Asset Management Inc now owns 37,749,760 shares of the pipeline company's stock valued at $1,365,583,000 after purchasing an additional 7,536,678 shares during the last quarter. 1832 Asset Management L.P. boosted its position in Enbridge by 2.5% during the fourth quarter. 1832 Asset Management L.P. now owns 35,289,140 shares of the pipeline company's stock valued at $1,271,115,000 after purchasing an additional 846,796 shares during the last quarter. Canoe Financial LP boosted its position in Enbridge by 80,631.1% during the fourth quarter. Canoe Financial LP now owns 33,460,611 shares of the pipeline company's stock valued at $1,205,251,000 after purchasing an additional 33,419,164 shares during the last quarter. Finally, Wellington Management Group LLP boosted its position in Enbridge by 630.3% during the third quarter. Wellington Management Group LLP now owns 32,531,108 shares of the pipeline company's stock valued at $1,083,938,000 after purchasing an additional 28,076,386 shares during the last quarter. 54.60% of the stock is owned by institutional investors and hedge funds.
Enbridge Price Performance
Shares of ENB stock traded down $0.43 during trading hours on Friday, reaching $35.76. The company's stock had a trading volume of 4,014,966 shares, compared to its average volume of 5,721,853. The firm's 50 day simple moving average is $35.88 and its 200-day simple moving average is $35.58. The company has a market capitalization of $76.03 billion, a price-to-earnings ratio of 18.15, a PEG ratio of 3.43 and a beta of 0.90. Enbridge Inc. has a fifty-two week low of $31.03 and a fifty-two week high of $38.37. The company has a quick ratio of 0.59, a current ratio of 0.68 and a debt-to-equity ratio of 1.35.
Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last issued its earnings results on Friday, May 10th. The pipeline company reported $0.68 earnings per share for the quarter, beating analysts' consensus estimates of $0.59 by $0.09. Enbridge had a return on equity of 10.53% and a net margin of 13.59%. The firm had revenue of $8.19 billion for the quarter, compared to the consensus estimate of $9 billion. Sell-side analysts forecast that Enbridge Inc. will post 2.11 earnings per share for the current year.
Enbridge Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Saturday, June 1st. Investors of record on Wednesday, May 15th were issued a dividend of $0.677 per share. This is an increase from Enbridge's previous quarterly dividend of $0.66. The ex-dividend date of this dividend was Tuesday, May 14th. This represents a $2.71 annualized dividend and a dividend yield of 7.57%. Enbridge's dividend payout ratio (DPR) is 136.04%.
Analyst Upgrades and Downgrades
Separately, Jefferies Financial Group initiated coverage on Enbridge in a research report on Tuesday, February 27th. They set a "buy" rating for the company. Two analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Enbridge currently has a consensus rating of "Hold" and an average target price of $55.20.
View Our Latest Analysis on ENB
About Enbridge
(Free Report)
Enbridge Inc, together with its subsidiaries, operates as an energy infrastructure company. The company operates through five segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution and Storage, Renewable Power Generation, and Energy Services. The Liquids Pipelines segment operates pipelines and related terminals to transport various grades of crude oil and other liquid hydrocarbons in Canada and the United States.
Featured Articles
- Five stocks we like better than Enbridge
- REIT Stocks - Best REIT Stocks to Add to Your Portfolio Today
- MarketBeat Week in Review – 6/3 - 6/7
- Basic Materials Stocks Investing
- Geron Corporation: FDA Approval Fuels Stock Price Surge
- Which Wall Street Analysts are the Most Accurate?
- Intel's Secret Plan for a Double-Digit Stock Rally Revealed
→ We recommended Nvidia in 2016, now we’re recommending this… (From Porter & Company) (Ad)
Should you invest $1,000 in Enbridge right now?
Before you consider Enbridge, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Enbridge wasn't on the list.
While Enbridge currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
7 AI Stocks to Invest In: An Introduction to AI Investing For Self-Directed Investors
As the AI market heats up, investors who have a vision for artificial intelligence have the potential to see real returns. Learn about the industry as a whole as well as seven companies that are getting work done with the power of AI.
Get This Free Report
