JARISLOWSKY FRASER Ltd Sells 49,575 Shares of Enbridge Inc $ENB

JARISLOWSKY FRASER Ltd trimmed its position in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 2.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,671,318 shares of the pipeline company’s stock after selling 49,575 shares during the quarter. JARISLOWSKY FRASER Ltd’s holdings in Enbridge were worth $84,335,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the business. Whipplewood Advisors LLC increased its position in Enbridge by 112.4% in the 2nd quarter. Whipplewood Advisors LLC now owns 582 shares of the pipeline company’s stock valued at $26,000 after acquiring an additional 308 shares during the period. Highline Wealth Partners LLC lifted its stake in Enbridge by 73.1% in the third quarter. Highline Wealth Partners LLC now owns 559 shares of the pipeline company’s stock valued at $28,000 after buying an additional 236 shares during the period. Financial Gravity Companies Inc. bought a new position in shares of Enbridge during the 2nd quarter worth approximately $29,000. True Wealth Design LLC grew its position in shares of Enbridge by 588.2% during the 3rd quarter. True Wealth Design LLC now owns 585 shares of the pipeline company’s stock worth $30,000 after buying an additional 500 shares during the period. Finally, Twin Peaks Wealth Advisors LLC acquired a new stake in shares of Enbridge during the 2nd quarter worth approximately $31,000. Institutional investors own 54.60% of the company’s stock.

Enbridge Trading Up 0.5%

NYSE:ENB opened at $48.08 on Friday. The company has a debt-to-equity ratio of 1.64, a current ratio of 0.80 and a quick ratio of 0.68. Enbridge Inc has a one year low of $39.73 and a one year high of $50.54. The company has a market cap of $104.87 billion, a PE ratio of 26.42 and a beta of 0.68. The firm has a 50-day moving average of $47.61 and a 200-day moving average of $47.24.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings results on Friday, November 7th. The pipeline company reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.06). The business had revenue of $7 billion during the quarter, compared to the consensus estimate of $8.45 billion. Enbridge had a net margin of 9.20% and a return on equity of 10.51%. During the same period in the previous year, the business posted $0.55 EPS. As a group, equities research analysts expect that Enbridge Inc will post 2.14 EPS for the current fiscal year.

Enbridge Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Sunday, March 1st. Investors of record on Tuesday, February 17th will be issued a dividend of $0.97 per share. This represents a $3.88 annualized dividend and a yield of 8.1%. This is an increase from Enbridge’s previous quarterly dividend of $0.94. The ex-dividend date is Tuesday, February 17th. Enbridge’s dividend payout ratio is currently 147.80%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Wall Street Zen downgraded shares of Enbridge from a “hold” rating to a “sell” rating in a research report on Sunday, September 21st. Cibc World Mkts lowered shares of Enbridge from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 9th. CIBC cut shares of Enbridge from an “outperform” rating to a “neutral” rating in a research report on Thursday, October 9th. Scotiabank reaffirmed a “sector perform” rating on shares of Enbridge in a research report on Monday, November 10th. Finally, National Bankshares reiterated a “sector perform” rating on shares of Enbridge in a report on Monday, November 10th. Five analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $63.00.

About Enbridge

Enbridge Inc is a Calgary, Alberta–based energy infrastructure company that develops, owns and operates a diversified portfolio of energy transportation, distribution and generation assets. Its core activities include the operation of crude oil and liquids pipelines, natural gas transmission and distribution systems, and energy storage facilities. In addition to midstream transportation and storage, Enbridge has expanded into renewable power generation and energy transition projects, including wind, solar and utility-scale generation assets.

The company serves customers primarily in Canada and the United States and has interests in other international energy projects.