Hexavest Inc. Has $7.62 Million Holdings in Enbridge Inc (NYSE:ENB)

Hexavest Inc. lessened its stake in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 25.0% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 217,084 shares of the pipeline company’s stock after selling 72,367 shares during the quarter. Hexavest Inc.’s holdings in Enbridge were worth $7,624,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in the company. Cardinal Capital Management Inc. lifted its position in shares of Enbridge by 0.9% in the third quarter. Cardinal Capital Management Inc. now owns 1,249,572 shares of the pipeline company’s stock worth $43,863,000 after purchasing an additional 11,240 shares in the last quarter. Scout Investments Inc. raised its position in Enbridge by 5.5% during the third quarter. Scout Investments Inc. now owns 349,691 shares of the pipeline company’s stock worth $12,267,000 after acquiring an additional 18,289 shares in the last quarter. TIAA FSB raised its position in Enbridge by 20.5% during the third quarter. TIAA FSB now owns 36,465 shares of the pipeline company’s stock worth $1,279,000 after acquiring an additional 6,203 shares in the last quarter. Advantage Investment Management LLC raised its position in Enbridge by 34.6% during the third quarter. Advantage Investment Management LLC now owns 2,039 shares of the pipeline company’s stock worth $72,000 after acquiring an additional 524 shares in the last quarter. Finally, Mitchell Mcleod Pugh & Williams Inc. raised its position in Enbridge by 8.7% during the third quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 21,053 shares of the pipeline company’s stock worth $739,000 after acquiring an additional 1,690 shares in the last quarter. Institutional investors own 53.82% of the company’s stock.

Shares of ENB opened at $35.66 on Friday. The firm has a market capitalization of $72.17 billion, a PE ratio of 17.40, a PEG ratio of 2.71 and a beta of 0.57. The company’s 50-day moving average is $34.50 and its 200-day moving average is $35.55. Enbridge Inc has a fifty-two week low of $28.82 and a fifty-two week high of $38.04. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.63 and a quick ratio of 0.53.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings data on Friday, August 2nd. The pipeline company reported $0.50 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.42 by $0.08. The company had revenue of $9.92 billion for the quarter. Enbridge had a net margin of 9.97% and a return on equity of 8.16%. Analysts predict that Enbridge Inc will post 2 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st will be paid a $0.251 dividend. The ex-dividend date is Monday, September 30th. This represents a $1.00 annualized dividend and a dividend yield of 2.82%. Enbridge’s dividend payout ratio (DPR) is presently 107.80%.

Several research firms have issued reports on ENB. ValuEngine lowered shares of Enbridge from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Wolfe Research lowered shares of Enbridge from an “outperform” rating to a “peer perform” rating and set a $37.00 price target on the stock. in a research report on Thursday, June 13th. Bank of America lowered shares of Enbridge from a “buy” rating to a “neutral” rating and set a $49.00 price target on the stock. in a research report on Tuesday, July 2nd. Scotiabank raised shares of Enbridge from a “sector perform” rating to an “outperform” rating in a research report on Thursday. Finally, Goldman Sachs Group started coverage on shares of Enbridge in a research report on Thursday, July 18th. They issued a “neutral” rating on the stock. One analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the company’s stock. Enbridge has a consensus rating of “Hold” and an average price target of $43.75.

About Enbridge

Enbridge Inc operates as an energy infrastructure company in Canada and the United States. The company operates through 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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