Enbridge Inc. (NYSE:ENB) Stake Raised by Infrastructure Capital Advisors LLC

Infrastructure Capital Advisors LLC grew its holdings in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 34.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 117,119 shares of the pipeline company’s stock after buying an additional 29,762 shares during the period. Infrastructure Capital Advisors LLC’s holdings in Enbridge were worth $4,756,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. Swiss National Bank raised its holdings in Enbridge by 3.2% during the third quarter. Swiss National Bank now owns 6,585,231 shares of the pipeline company’s stock worth $267,935,000 after purchasing an additional 207,200 shares in the last quarter. Pinnacle Financial Partners Inc raised its holdings in Enbridge by 8.8% during the third quarter. Pinnacle Financial Partners Inc now owns 188,244 shares of the pipeline company’s stock worth $7,650,000 after purchasing an additional 15,207 shares in the last quarter. Stonegate Investment Group LLC raised its holdings in Enbridge by 66.5% during the third quarter. Stonegate Investment Group LLC now owns 33,833 shares of the pipeline company’s stock worth $1,374,000 after purchasing an additional 13,515 shares in the last quarter. CIBC Asset Management Inc raised its holdings in Enbridge by 4.0% during the third quarter. CIBC Asset Management Inc now owns 24,161,024 shares of the pipeline company’s stock worth $984,205,000 after purchasing an additional 936,863 shares in the last quarter. Finally, Lindbrook Capital LLC raised its holdings in Enbridge by 816.2% during the third quarter. Lindbrook Capital LLC now owns 21,714 shares of the pipeline company’s stock worth $882,000 after purchasing an additional 19,344 shares in the last quarter. Institutional investors own 54.60% of the company’s stock.

Enbridge Price Performance

NYSE ENB opened at $42.90 on Friday. The stock has a market capitalization of $93.44 billion, a P/E ratio of 19.86, a P/E/G ratio of 4.22 and a beta of 0.93. Enbridge Inc. has a 1 year low of $32.85 and a 1 year high of $43.70. The business’s fifty day moving average is $41.57 and its two-hundred day moving average is $38.82. 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 posted its quarterly earnings results on Friday, November 1st. The pipeline company reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.15. Enbridge had a return on equity of 9.94% and a net margin of 13.54%. The company had revenue of $10.91 billion for the quarter, compared to analysts’ expectations of $4.54 billion. During the same quarter in the prior year, the company earned $0.46 earnings per share. On average, research analysts forecast that Enbridge Inc. will post 2.04 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Friday, November 15th will be given a dividend of $0.676 per share. This represents a $2.70 annualized dividend and a yield of 6.30%. This is a boost from Enbridge’s previous quarterly dividend of $0.67. The ex-dividend date is Friday, November 15th. Enbridge’s payout ratio is presently 121.76%.

Analysts Set New Price Targets

Several brokerages recently commented on ENB. Morgan Stanley began coverage on Enbridge in a report on Friday, October 25th. They set an “equal weight” rating on the stock. Jefferies Financial Group cut Enbridge from a “buy” rating to a “hold” rating in a report on Monday, September 30th. Finally, Wells Fargo & Company raised Enbridge from an “underweight” rating to an “equal weight” rating in a report on Wednesday, November 6th.

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.