Fmr LLC Has $99.91 Million Holdings in Enbridge Inc (ENB)

Fmr LLC lessened its stake in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 81.1% during the second quarter, Holdings Channel reports. The institutional investor owned 2,794,646 shares of the pipeline company’s stock after selling 11,983,556 shares during the period. Fmr LLC’s holdings in Enbridge were worth $99,911,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. HighPoint Advisor Group LLC raised its stake in Enbridge by 21.4% during the 2nd quarter. HighPoint Advisor Group LLC now owns 8,094 shares of the pipeline company’s stock worth $282,000 after buying an additional 1,427 shares during the period. Tealwood Asset Management Inc. raised its stake in Enbridge by 1.3% during the 2nd quarter. Tealwood Asset Management Inc. now owns 118,062 shares of the pipeline company’s stock worth $4,214,000 after buying an additional 1,502 shares during the period. Parsec Financial Management Inc. raised its stake in Enbridge by 12.7% during the 2nd quarter. Parsec Financial Management Inc. now owns 13,402 shares of the pipeline company’s stock worth $478,000 after buying an additional 1,506 shares during the period. First Allied Advisory Services Inc. raised its stake in Enbridge by 4.6% during the 2nd quarter. First Allied Advisory Services Inc. now owns 35,496 shares of the pipeline company’s stock worth $1,270,000 after buying an additional 1,546 shares during the period. Finally, Fieldpoint Private Securities LLC raised its stake in Enbridge by 12.0% during the 2nd quarter. Fieldpoint Private Securities LLC now owns 14,480 shares of the pipeline company’s stock worth $517,000 after buying an additional 1,550 shares during the period. Hedge funds and other institutional investors own 58.28% of the company’s stock.

A number of research analysts recently weighed in on the company. Zacks Investment Research raised Enbridge from a “hold” rating to a “buy” rating and set a $38.00 price target on the stock in a research note on Monday, October 8th. UBS Group assumed coverage on Enbridge in a research note on Thursday, October 4th. They set a “buy” rating on the stock. Wells Fargo & Co raised Enbridge from a “market perform” rating to an “outperform” rating in a research note on Monday, November 5th. Bank of America raised Enbridge from a “neutral” rating to a “buy” rating and upped their price target for the stock from $49.00 to $50.00 in a research note on Friday, August 17th. Finally, Citigroup reaffirmed a “neutral” rating on shares of Enbridge in a research note on Monday, September 24th. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $49.17.

Shares of Enbridge stock opened at $32.83 on Friday. The company has a market capitalization of $57.20 billion, a PE ratio of 21.32, a P/E/G ratio of 1.37 and a beta of 0.53. Enbridge Inc has a 52 week low of $29.00 and a 52 week high of $41.21. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.59 and a quick ratio of 0.47.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings data on Friday, November 2nd. The pipeline company reported $0.42 EPS for the quarter, hitting the consensus estimate of $0.42. The firm had revenue of $8.68 billion during the quarter, compared to the consensus estimate of $8.28 billion. Enbridge had a return on equity of 8.81% and a net margin of 3.95%. During the same period in the prior year, the business posted $0.39 earnings per share. On average, equities research analysts predict that Enbridge Inc will post 2.09 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, December 1st. Stockholders of record on Thursday, November 15th will be paid a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 6.21%. The ex-dividend date of this dividend is Wednesday, November 14th. Enbridge’s dividend payout ratio (DPR) is presently 132.47%.

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Enbridge Company Profile

Enbridge Inc operates as an energy infrastructure company in Canada and the United States. The company operates in five segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution, Green Power and Transmission, and Energy Services. The Liquids Pipelines segment operates common carrier and contract crude oil, natural gas liquids (NGL), and refined products pipelines and terminals.

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Institutional Ownership by Quarter for Enbridge (NYSE:ENB)

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