Enbridge Inc (NYSE:ENB) (TSE:ENB) was the target of a significant growth in short interest in December. As of December 15th, there was short interest totalling 20,766,014 shares, a growth of 21.7% from the November 30th total of 17,068,961 shares. Approximately 1.3% of the shares of the company are short sold. Based on an average daily volume of 2,896,111 shares, the days-to-cover ratio is currently 7.2 days.
Large investors have recently made changes to their positions in the company. Spectrum Management Group Inc. acquired a new stake in shares of Enbridge in the third quarter valued at $113,000. Fieldpoint Private Securities LLC acquired a new stake in shares of Enbridge in the third quarter valued at $130,000. Valeo Financial Advisors LLC bought a new position in Enbridge in the third quarter valued at about $146,000. Patten Group Inc. boosted its holdings in Enbridge by 333.2% in the third quarter. Patten Group Inc. now owns 15,752 shares of the pipeline company’s stock valued at $152,000 after acquiring an additional 12,116 shares during the last quarter. Finally, San Francisco Sentry Investment Group CA bought a new position in Enbridge in the second quarter valued at about $159,000. Institutional investors own 62.14% of the company’s stock.
A number of research analysts recently commented on ENB shares. GMP Securities lowered Enbridge from a “buy” rating to a “hold” rating in a research note on Tuesday, October 17th. Zacks Investment Research lowered Enbridge from a “hold” rating to a “sell” rating in a research note on Tuesday, October 31st. Morgan Stanley cut their target price on 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, Canaccord Genuity reiterated a “buy” rating and set a $54.00 price objective on shares of Enbridge in a research note on Thursday, November 30th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $52.00.
Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings data on Thursday, November 2nd. The pipeline company reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.03. Enbridge had a return on equity of 5.62% and a net margin of 7.49%. The firm had revenue of $9.23 billion during the quarter, compared to analyst estimates of $8.54 billion. During the same period in the prior year, the company posted $0.47 earnings per share. equities analysts anticipate that Enbridge will post 1.54 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 1st. Stockholders of record on Thursday, February 15th will be paid a $0.5278 dividend. The ex-dividend date is Wednesday, February 14th. This is a positive change from Enbridge’s previous quarterly dividend of $0.47. This represents a $2.11 dividend on an annualized basis and a dividend yield of 5.18%. Enbridge’s dividend payout ratio (DPR) is 123.08%.
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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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