HL Financial Services LLC Buys 4,208 Shares of Enbridge Inc (ENB)
HL Financial Services LLC increased its stake in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 8.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 56,890 shares of the pipeline company’s stock after acquiring an additional 4,208 shares during the period. HL Financial Services LLC’s holdings in Enbridge were worth $2,380,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Capital World Investors lifted its stake in Enbridge by 8.2% in the second quarter. Capital World Investors now owns 149,378,598 shares of the pipeline company’s stock worth $5,948,565,000 after purchasing an additional 11,294,003 shares during the last quarter. TD Asset Management Inc. lifted its stake in Enbridge by 4.6% in the second quarter. TD Asset Management Inc. now owns 43,401,073 shares of the pipeline company’s stock worth $1,726,420,000 after purchasing an additional 1,909,405 shares during the last quarter. Vanguard Group Inc. lifted its stake in Enbridge by 4.5% in the second quarter. Vanguard Group Inc. now owns 40,741,765 shares of the pipeline company’s stock worth $1,621,930,000 after purchasing an additional 1,758,679 shares during the last quarter. Capital International Investors lifted its stake in Enbridge by 2.1% in the second quarter. Capital International Investors now owns 38,180,126 shares of the pipeline company’s stock worth $1,520,465,000 after purchasing an additional 788,202 shares during the last quarter. Finally, Jarislowsky Fraser Ltd lifted its stake in Enbridge by 12.9% in the second quarter. Jarislowsky Fraser Ltd now owns 22,233,563 shares of the pipeline company’s stock worth $884,413,000 after purchasing an additional 2,535,941 shares during the last quarter. Institutional investors own 61.49% of the company’s stock.
Enbridge Inc (NYSE:ENB) traded down $0.16 during trading on Friday, hitting $36.48. 2,128,700 shares of the stock traded hands, compared to its average volume of 2,653,593. The company has a quick ratio of 0.50, a current ratio of 0.64 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. The company has a market capitalization of $60,325.12, a P/E ratio of 23.69, a PEG ratio of 2.27 and a beta of 0.65.
Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly 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 in the previous year, the firm posted $0.47 earnings per share. research analysts expect that Enbridge Inc will post 1.53 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Wednesday, November 15th will be paid a dividend of $0.474 per share. This represents a $1.90 annualized dividend and a dividend yield of 5.20%. 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 payout ratio is currently 123.90%.
ENB has been the subject of several analyst reports. BidaskClub downgraded shares of Enbridge from a “sell” rating to a “strong sell” rating in a research note on Friday, August 11th. GMP Securities downgraded shares of Enbridge from a “buy” rating to a “hold” rating in a research note on Tuesday, October 17th. Finally, Zacks Investment Research downgraded shares of Enbridge from a “hold” rating to a “sell” rating in a research note on Tuesday, October 31st. One analyst has rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $52.33.
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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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