West Family Investments Inc. Has $512,000 Stock Holdings in Enbridge Inc $ENB

by · The Cerbat Gem

West Family Investments Inc. raised its holdings in Enbridge Inc (NYSE:ENB – Free Report) (TSE:ENB) by 119.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 11,302 shares of the pipeline company’s stock after buying an additional 6,142 shares during the period. West Family Investments Inc.’s holdings in Enbridge were worth $512,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Dagco Inc. acquired a new stake in shares of Enbridge in the 1st quarter worth about $25,000. Whipplewood Advisors LLC increased its holdings in Enbridge by 112.4% during the 2nd quarter. Whipplewood Advisors LLC now owns 582 shares of the pipeline company’s stock worth $26,000 after purchasing an additional 308 shares in the last quarter. Financial Gravity Companies Inc. purchased a new stake in shares of Enbridge in the second quarter worth approximately $29,000. Accent Capital Management LLC bought a new position in shares of Enbridge in the first quarter valued at approximately $30,000. Finally, Addison Advisors LLC bought a new position in shares of Enbridge in the second quarter valued at approximately $35,000. 54.60% of the stock is owned by institutional investors.

Enbridge Stock Up 1.3%

ENB opened at $48.65 on Friday. Enbridge Inc has a twelve month low of $39.73 and a twelve month high of $50.54. The company’s 50-day moving average price is $48.11 and its two-hundred day moving average price is $46.97. The stock has a market cap of $106.12 billion, a price-to-earnings ratio of 23.97, a PEG ratio of 4.31 and a beta of 0.76. The company has a quick ratio of 0.65, a current ratio of 0.75 and a debt-to-equity ratio of 1.58.

Enbridge (NYSE:ENB – Get Free Report) (TSE:ENB) last issued its quarterly earnings results on Friday, November 7th. The pipeline company reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.06). Enbridge had a return on equity of 10.77% and a net margin of 10.11%.The company had revenue of $7 billion for the quarter, compared to analysts’ expectations of $8.45 billion. During the same quarter in the previous year, the business earned $0.55 EPS. As a group, equities analysts expect that Enbridge Inc will post 2.14 earnings per share for the current year.

Enbridge Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Friday, November 14th will be paid a $0.9425 dividend. The ex-dividend date is Friday, November 14th. This is a boost from Enbridge’s previous quarterly dividend of $0.68. This represents a $3.77 annualized dividend and a dividend yield of 7.7%. Enbridge’s dividend payout ratio is presently 147.80%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on ENB. Argus increased their price target on Enbridge from $50.00 to $54.00 and gave the company a “buy” rating in a research report on Tuesday, August 12th. Cibc World Mkts lowered shares of Enbridge from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 9th. Royal Bank Of Canada raised their price target on shares of Enbridge from $67.00 to $72.00 and gave the company an “outperform” rating in a research report on Monday, November 10th. CIBC cut shares of Enbridge from an “outperform” rating to a “neutral” rating in a report on Thursday, October 9th. Finally, Scotiabank reiterated a “sector perform” rating on shares of Enbridge in a research note on Monday, November 10th. Six research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $63.00.

Get Our Latest Research Report on Enbridge

Enbridge Profile

(Free Report)

Enbridge Inc, together with its subsidiaries, operates as an energy infrastructure company. The company operates through five segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution and Storage, Renewable Power Generation, and Energy Services. The Liquids Pipelines segment operates pipelines and related terminals to transport various grades of crude oil and other liquid hydrocarbons in Canada and the United States.

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