Montrusco Bolton Investments Inc. Has $116.43 Million Stock Holdings in Enbridge Inc. (NYSE:ENB)

Montrusco Bolton Investments Inc. increased its stake in shares of Enbridge Inc. (NYSE:ENBGet Rating) (TSE:ENB) by 0.7% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,123,435 shares of the pipeline company’s stock after acquiring an additional 22,092 shares during the period. Enbridge comprises about 3.1% of Montrusco Bolton Investments Inc.’s portfolio, making the stock its 10th largest position. Montrusco Bolton Investments Inc. owned about 0.15% of Enbridge worth $116,431,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Bank of Nova Scotia increased its holdings in shares of Enbridge by 116.3% in the second quarter. Bank of Nova Scotia now owns 24,897,404 shares of the pipeline company’s stock valued at $1,051,405,000 after purchasing an additional 13,386,638 shares during the last quarter. Deutsche Bank AG lifted its holdings in shares of Enbridge by 15.4% during the second quarter. Deutsche Bank AG now owns 42,067,808 shares of the pipeline company’s stock worth $1,777,785,000 after buying an additional 5,598,127 shares in the last quarter. GQG Partners LLC boosted its holdings in Enbridge by 9.0% in the 2nd quarter. GQG Partners LLC now owns 51,856,121 shares of the pipeline company’s stock valued at $2,186,048,000 after purchasing an additional 4,276,415 shares during the period. Great West Life Assurance Co. Can acquired a new position in Enbridge in the third quarter valued at about $128,054,000. Finally, Vanguard Group Inc. raised its holdings in shares of Enbridge by 3.7% during the 1st quarter. Vanguard Group Inc. now owns 69,181,872 shares of the pipeline company’s stock worth $3,188,593,000 after buying an additional 2,491,924 shares in the last quarter. 49.25% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently commented on ENB. National Bank Financial lowered shares of Enbridge from an “outperform” rating to a “sector perform” rating in a report on Monday, November 7th. Credit Suisse Group dropped their price target on shares of Enbridge from C$54.00 to C$52.00 in a research report on Friday, December 9th. BMO Capital Markets downgraded shares of Enbridge from an “outperform” rating to a “market perform” rating in a research note on Tuesday. Scotiabank cut their target price on Enbridge from C$62.00 to C$56.00 in a research report on Thursday, October 20th. Finally, Morgan Stanley cut their price target on Enbridge from C$67.00 to C$64.00 in a report on Wednesday, October 19th. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $59.40.

Enbridge Price Performance

Shares of NYSE ENB traded down $1.00 during mid-day trading on Wednesday, reaching $40.53. The company’s stock had a trading volume of 1,178,007 shares, compared to its average volume of 2,595,375. The firm has a market capitalization of $82.07 billion, a PE ratio of 19.68, a P/E/G ratio of 3.00 and a beta of 0.82. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.60 and a quick ratio of 0.47. Enbridge Inc. has a 52 week low of $35.02 and a 52 week high of $47.67. The stock has a fifty day moving average of $40.23 and a two-hundred day moving average of $40.65.

Enbridge (NYSE:ENBGet Rating) (TSE:ENB) last posted its quarterly earnings results on Friday, November 4th. The pipeline company reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.01. The firm had revenue of $8.87 billion during the quarter. Enbridge had a net margin of 11.07% and a return on equity of 10.60%. As a group, sell-side analysts anticipate that Enbridge Inc. will post 2.18 EPS for the current fiscal year.

Enbridge Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 1st. Stockholders of record on Wednesday, February 15th will be given a dividend of $0.6538 per share. The ex-dividend date of this dividend is Tuesday, February 14th. This is a boost from Enbridge’s previous quarterly dividend of $0.63. This represents a $2.62 dividend on an annualized basis and a dividend yield of 6.45%. Enbridge’s dividend payout ratio (DPR) is 122.75%.

Enbridge Company Profile

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Enbridge, Inc engages in the provision of gas and oil businesses. It operates through the following segments: Liquid Pipelines, Gas Distribution & Storage, Gas Transmission & Midstream, Renewable Power Generation, and Energy Services. The Liquids Pipelines segment consists of common carrier and contract crude oil, natural gas liquids and refined products pipelines and terminals in Canada and the U.S., including Canadian Mainline, Regional Oil Sands System, Southern Lights Pipeline, Spearhead Pipeline, Seaway Crude Pipeline interest, and other feeder pipelines.

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Institutional Ownership by Quarter for Enbridge (NYSE:ENB)

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