Advisor Resource Council Takes Position in Enbridge Inc. (NYSE:ENB)

Advisor Resource Council acquired a new stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 5,746 shares of the pipeline company’s stock, valued at approximately $233,000.

A number of other institutional investors and hedge funds also recently modified their holdings of ENB. Pathway Financial Advisers LLC increased its stake in shares of Enbridge by 4,120.0% during the 3rd quarter. Pathway Financial Advisers LLC now owns 4,571,669 shares of the pipeline company’s stock valued at $185,655,000 after acquiring an additional 4,463,335 shares during the last quarter. M&G Plc acquired a new stake in Enbridge during the 1st quarter worth approximately $152,843,000. Cibc World Market Inc. increased its position in Enbridge by 12.8% during 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 in the last quarter. Canada Pension Plan Investment Board increased its position in Enbridge by 66.9% during the 1st quarter. Canada Pension Plan Investment Board now owns 9,044,864 shares of the pipeline company’s stock worth $327,172,000 after purchasing an additional 3,624,089 shares in the last quarter. Finally, National Bank of Canada FI increased its position in Enbridge by 11.3% during the 1st quarter. National Bank of Canada FI now owns 21,664,748 shares of the pipeline company’s stock worth $818,370,000 after purchasing an additional 2,203,123 shares in the last quarter. Institutional investors and hedge funds own 54.60% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on ENB. Morgan Stanley began coverage on shares of Enbridge in a research report on Friday, October 25th. They set an “equal weight” rating for the company. Jefferies Financial Group cut Enbridge from a “buy” rating to a “hold” rating in a report on Monday, September 30th. Finally, Wells Fargo & Company upgraded Enbridge from an “underweight” rating to an “equal weight” rating in a report on Wednesday.

Enbridge Stock Up 2.1 %

NYSE ENB opened at $42.41 on Friday. The stock has a market cap of $92.36 billion, a PE ratio of 19.63, a P/E/G ratio of 3.97 and a beta of 0.93. Enbridge Inc. has a fifty-two week low of $32.76 and a fifty-two week high of $42.61. The business has a 50 day moving average price of $40.82 and a two-hundred day moving average price of $38.12. The company has a quick ratio of 0.68, a current ratio of 0.62 and a debt-to-equity ratio of 1.41.

Enbridge (NYSE:ENB) (TSE:ENB) last released its earnings results on Friday, November 1st. The pipeline company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.40 by $0.15. The company had revenue of $10.91 billion during the quarter, compared to analysts’ expectations of $4.54 billion. Enbridge had a return on equity of 9.94% and a net margin of 13.54%. During the same period in the prior year, the business posted $0.46 EPS. As a group, sell-side analysts predict that Enbridge Inc. will post 2.06 EPS for the current fiscal year.

Enbridge Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Friday, November 15th will be paid a dividend of $0.676 per share. This is a boost from Enbridge’s previous quarterly dividend of $0.67. This represents a $2.70 annualized dividend and a dividend yield of 6.38%. The ex-dividend date is Friday, November 15th. Enbridge’s dividend payout ratio is 122.22%.

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.