Drucker Wealth 3.0 LLC Purchases 1,258 Shares of Enbridge Inc. (NYSE:ENB)

Drucker Wealth 3.0 LLC raised its position in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 1.0% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 127,697 shares of the pipeline company’s stock after purchasing an additional 1,258 shares during the quarter. Enbridge accounts for about 1.2% of Drucker Wealth 3.0 LLC’s investment portfolio, making the stock its 22nd biggest holding. Drucker Wealth 3.0 LLC’s holdings in Enbridge were worth $5,186,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its stake in Enbridge by 1,514.7% during the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 4,799,345 shares of the pipeline company’s stock valued at $194,938,000 after acquiring an additional 4,502,115 shares during the period. Pathway Financial Advisers LLC boosted its holdings in Enbridge by 4,120.0% in the third quarter. Pathway Financial Advisers LLC now owns 4,571,669 shares of the pipeline company’s stock worth $185,655,000 after purchasing an additional 4,463,335 shares during the last quarter. Cibc World Market Inc. grew its position in Enbridge by 12.8% in the 2nd quarter. Cibc World Market Inc. now owns 32,531,675 shares of the pipeline company’s stock worth $1,157,802,000 after purchasing an additional 3,693,495 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its stake in Enbridge by 27.8% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 12,278,739 shares of the pipeline company’s stock valued at $498,734,000 after buying an additional 2,668,692 shares during the last quarter. Finally, National Bank of Canada FI boosted its stake in shares of Enbridge by 12.8% in the 3rd quarter. National Bank of Canada FI now owns 18,163,353 shares of the pipeline company’s stock worth $737,754,000 after buying an additional 2,061,758 shares during the last quarter. 54.60% of the stock is owned by hedge funds and other institutional investors.

Enbridge Price Performance

ENB stock opened at $43.14 on Monday. The company has a market capitalization of $93.96 billion, a PE ratio of 19.97, a price-to-earnings-growth ratio of 4.26 and a beta of 0.94. The company’s fifty day moving average price is $41.89 and its 200-day moving average price is $39.13. Enbridge Inc. has a one year low of $32.85 and a one year high of $44.13. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.54 and a current ratio of 0.62.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings data on Friday, November 1st. The pipeline company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.40 by $0.15. Enbridge had a net margin of 13.54% and a return on equity of 9.94%. The business had revenue of $10.91 billion during the quarter, compared to the consensus estimate of $4.54 billion. During the same quarter in the prior year, the firm earned $0.46 EPS. On average, equities analysts anticipate that Enbridge Inc. will post 2.03 EPS for the current fiscal year.

Enbridge Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Saturday, February 15th will be issued a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a dividend yield of 6.21%. The ex-dividend date of this dividend is Friday, February 14th. Enbridge’s dividend payout ratio (DPR) is presently 121.76%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Morgan Stanley began coverage on Enbridge in a research note on Friday, October 25th. They set an “equal weight” rating for the company. Wells Fargo & Company upgraded shares of Enbridge from an “underweight” rating to an “equal weight” rating in a research note on Wednesday, November 6th. Jefferies Financial Group downgraded Enbridge from a “buy” rating to a “hold” rating in a research report on Monday, September 30th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $63.00 price objective (up from $59.00) on shares of Enbridge in a research note on Wednesday, December 4th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $63.00.

About Enbridge

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.