Enbridge Inc $ENB Stock Holdings Cut by Beutel Goodman & Co Ltd.

Beutel Goodman & Co Ltd. cut its position in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 7.8% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 243,424 shares of the pipeline company’s stock after selling 20,540 shares during the quarter. Beutel Goodman & Co Ltd.’s holdings in Enbridge were worth $11,016,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Dagco Inc. acquired a new position in Enbridge during the first quarter worth about $25,000. Whipplewood Advisors LLC lifted its holdings 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 last quarter. Financial Gravity Companies Inc. bought a new position in shares of Enbridge during the 2nd quarter valued at about $29,000. Twin Peaks Wealth Advisors LLC bought a new position in shares of Enbridge during the 2nd quarter valued at about $31,000. Finally, Addison Advisors LLC acquired a new position in shares of Enbridge in the 2nd quarter worth approximately $35,000. Institutional investors own 54.60% of the company’s stock.

Enbridge Stock Up 0.9%

Shares of Enbridge stock opened at $48.18 on Friday. Enbridge Inc has a 1 year low of $39.73 and a 1 year high of $50.54. The company has a market cap of $105.09 billion, a P/E ratio of 26.47 and a beta of 0.68. The company has a current ratio of 0.80, a quick ratio of 0.68 and a debt-to-equity ratio of 1.64. The stock has a 50-day moving average price of $48.00 and a 200 day moving average price of $47.05.

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

Enbridge Increases Dividend

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

Analyst Ratings Changes

Several research firms recently commented on ENB. Argus increased their target price on shares of Enbridge from $50.00 to $54.00 and gave the company a “buy” rating in a research note on Tuesday, August 12th. Royal Bank Of Canada upped their price target on Enbridge from $67.00 to $72.00 and gave the company an “outperform” rating in a report on Monday, November 10th. National Bankshares reissued a “sector perform” rating on shares of Enbridge in a research note on Monday, November 10th. Weiss Ratings restated a “buy (b-)” rating on shares of Enbridge in a report on Monday. Finally, Cibc World Mkts downgraded Enbridge from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 9th. Six equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $63.00.

Enbridge Company Profile

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.