CGOV Asset Management Boosts Stake in Enbridge Inc (ENB)

CGOV Asset Management lifted its position in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 33.3% in the fourth quarter, reports. The firm owned 3,523,189 shares of the pipeline company’s stock after purchasing an additional 879,800 shares during the period. Enbridge comprises 6.5% of CGOV Asset Management’s investment portfolio, making the stock its 6th largest position. CGOV Asset Management’s holdings in Enbridge were worth $173,200,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Spectrum Management Group Inc. bought a new position in Enbridge in the third quarter worth about $113,000. Fieldpoint Private Securities LLC bought a new position in Enbridge in the third quarter worth about $130,000. Valeo Financial Advisors LLC bought a new position in Enbridge in the third quarter worth about $146,000. San Francisco Sentry Investment Group CA bought a new position in Enbridge in the second quarter worth about $159,000. Finally, NEXT Financial Group Inc raised its stake in Enbridge by 53.6% in the third quarter. NEXT Financial Group Inc now owns 4,196 shares of the pipeline company’s stock worth $174,000 after buying an additional 1,465 shares in the last quarter. Institutional investors own 62.14% of the company’s stock.

A number of research firms recently issued reports on ENB. Canaccord Genuity reissued a “buy” rating and issued a $54.00 price target on shares of Enbridge in a research note on Thursday, November 30th. Bank of America began coverage on shares of Enbridge in a research note on Tuesday. They issued a “neutral” rating for the company. Zacks Investment Research raised shares of Enbridge from a “sell” rating to a “hold” rating in a research note on Monday, December 4th. Morgan Stanley decreased their price target on shares of Enbridge from $43.00 to $41.00 and set an “equal weight” rating for the company in a research note on Friday, November 17th. Finally, GMP Securities downgraded shares of Enbridge from a “buy” rating to a “hold” rating in a research note on Tuesday, October 17th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $52.00.

Shares of Enbridge Inc (NYSE ENB) traded down $1.08 during midday trading on Thursday, hitting $39.16. 3,758,500 shares of the company’s stock were exchanged, compared to its average volume of 2,258,600. Enbridge Inc has a fifty-two week low of $34.39 and a fifty-two week high of $44.51. The company has a market capitalization of $66,330.00, a P/E ratio of 25.10, a price-to-earnings-growth ratio of 2.53 and a beta of 0.64. 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 (NYSE:ENB) (TSE:ENB) last announced its earnings results on Thursday, November 2nd. The pipeline company reported $0.39 earnings per share for the quarter, beating the Zacks’ 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 business 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 earnings per share. research analysts forecast that Enbridge Inc will post 1.54 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 1st. Shareholders of record on Thursday, February 15th will be paid a dividend of $0.5278 per share. This is an increase from Enbridge’s previous quarterly dividend of $0.47. The ex-dividend date is Wednesday, February 14th. This represents a $2.11 dividend on an annualized basis and a dividend yield of 5.39%. Enbridge’s dividend payout ratio (DPR) is currently 123.08%.

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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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Institutional Ownership by Quarter for Enbridge (NYSE:ENB)

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