Quantbot Technologies LP lowered its position in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 56.2% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 44,382 shares of the pipeline company’s stock after selling 57,031 shares during the period. Quantbot Technologies LP’s holdings in Enbridge were worth $1,856,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Intercontinental Wealth Advisors LLC acquired a new stake in shares of Enbridge during the 2nd quarter worth approximately $2,812,000. Scotia Capital Inc. increased its holdings in shares of Enbridge by 8.1% during the 2nd quarter. Scotia Capital Inc. now owns 4,590,960 shares of the pipeline company’s stock worth $182,901,000 after buying an additional 344,339 shares during the last quarter. Cambridge Investment Research Advisors Inc. increased its holdings in shares of Enbridge by 5.3% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 155,772 shares of the pipeline company’s stock worth $6,518,000 after buying an additional 7,820 shares during the last quarter. Sentry Investments Corp. increased its holdings in shares of Enbridge by 422.2% during the 2nd quarter. Sentry Investments Corp. now owns 3,027,655 shares of the pipeline company’s stock worth $156,409,000 after buying an additional 2,447,900 shares during the last quarter. Finally, K.J. Harrison & Partners Inc increased its holdings in shares of Enbridge by 101.2% during the 3rd quarter. K.J. Harrison & Partners Inc now owns 77,812 shares of the pipeline company’s stock worth $3,242,000 after buying an additional 39,147 shares during the last quarter. Institutional investors and hedge funds own 60.67% of the company’s stock.
A number of analysts have recently issued reports on ENB shares. Zacks Investment Research downgraded shares of Enbridge from a “hold” rating to a “sell” rating in a report on Tuesday, October 31st. GMP Securities downgraded shares of Enbridge from a “buy” rating to a “hold” rating in a report on Tuesday, October 17th. BidaskClub downgraded shares of Enbridge from a “sell” rating to a “strong sell” rating in a report on Friday, August 11th. Finally, Morgan Stanley cut their price target on shares of Enbridge from $43.00 to $41.00 and set an “equal weight” rating for the company in a report on Friday. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the stock. Enbridge currently has an average rating of “Hold” and an average price target of $51.33.
Enbridge (NYSE:ENB) (TSE:ENB) last posted its earnings results 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. Enbridge had a net margin of 7.49% and a return on equity of 5.62%. The firm had revenue of $9.23 billion during the quarter, compared to the consensus estimate of $8.54 billion. During the same quarter last year, the firm earned $0.47 EPS. research analysts predict that Enbridge Inc will post 1.53 earnings per share for the current year.
The business also recently announced 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 represents a $1.90 annualized dividend and a yield of 5.39%. The ex-dividend date of this dividend is Tuesday, November 14th. This is an increase from Enbridge’s previous quarterly dividend of $0.33. Enbridge’s dividend payout ratio (DPR) is 124.18%.
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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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