Wilmington Savings Fund Society FSB Makes New $1.22 Million Investment in Enbridge Inc. (NYSE:ENB)

Wilmington Savings Fund Society FSB acquired a new position in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 29,947 shares of the pipeline company’s stock, valued at approximately $1,216,000.

Other large investors also recently made changes to their positions in the company. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its position in Enbridge by 1,514.7% during the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 4,799,345 shares of the pipeline company’s stock worth $194,938,000 after acquiring an additional 4,502,115 shares in the last quarter. 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 worth $185,655,000 after purchasing an additional 4,463,335 shares during the last quarter. Cibc World Market Inc. raised its holdings in shares of Enbridge by 12.8% in the 2nd quarter. Cibc World Market Inc. now owns 32,531,675 shares of the pipeline company’s stock valued at $1,157,802,000 after purchasing an additional 3,693,495 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its stake in Enbridge by 27.8% in 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 purchasing an additional 2,668,692 shares during the last quarter. Finally, National Bank of Canada FI grew its holdings in Enbridge by 12.8% during the third quarter. National Bank of Canada FI now owns 18,163,353 shares of the pipeline company’s stock worth $737,754,000 after purchasing an additional 2,061,758 shares during the period. Institutional investors and hedge funds own 54.60% of the company’s stock.

Analyst Ratings Changes

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

Enbridge Stock Performance

NYSE:ENB opened at $41.91 on Friday. The stock has a 50 day simple moving average of $42.02 and a 200 day simple moving average of $39.32. The stock has a market cap of $91.28 billion, a P/E ratio of 19.40, a PEG ratio of 4.18 and a beta of 0.94. Enbridge Inc. has a 1-year low of $32.85 and a 1-year high of $44.13. The company has a current ratio of 0.62, a quick ratio of 0.54 and a debt-to-equity ratio of 1.41.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its earnings results on Friday, November 1st. The pipeline company reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $4.54 billion. During the same quarter last year, the firm earned $0.46 earnings per share. Research analysts anticipate that Enbridge Inc. will post 2.03 earnings per share for the current year.

Enbridge Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Saturday, February 15th will be given a dividend of $0.67 per share. The ex-dividend date is Friday, February 14th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 6.39%. Enbridge’s payout ratio is presently 121.76%.

Enbridge 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.