Mesirow Financial Investment Management Inc. Acquires 4,376 Shares of Enbridge Inc. (NYSE:ENB)

Mesirow Financial Investment Management Inc. boosted its stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 2.4% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 185,447 shares of the pipeline company’s stock after purchasing an additional 4,376 shares during the period. Mesirow Financial Investment Management Inc.’s holdings in Enbridge were worth $7,531,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of Enbridge by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 84,280,486 shares of the pipeline company’s stock valued at $3,049,268,000 after acquiring an additional 1,227,031 shares during the period. TD Asset Management Inc lifted its holdings in shares of Enbridge by 0.9% in the 1st quarter. TD Asset Management Inc now owns 38,087,489 shares of the pipeline company’s stock valued at $1,377,708,000 after acquiring an additional 337,729 shares during the last quarter. 1832 Asset Management L.P. raised its position in Enbridge by 3.9% during the first quarter. 1832 Asset Management L.P. now owns 36,649,579 shares of the pipeline company’s stock valued at $1,325,982,000 after purchasing an additional 1,360,439 shares during the period. Cibc World Market Inc. boosted 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 worth $1,157,802,000 after purchasing an additional 3,693,495 shares during the period. Finally, Barrow Hanley Mewhinney & Strauss LLC raised its holdings in Enbridge by 3.7% during the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 23,083,951 shares of the pipeline company’s stock valued at $821,331,000 after buying an additional 827,540 shares during the period. Institutional investors own 54.60% of the company’s stock.

Wall Street Analyst Weigh In

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

Enbridge Price Performance

Shares of Enbridge stock opened at $42.33 on Friday. The firm has a market cap of $92.18 billion, a PE ratio of 19.60, a P/E/G ratio of 4.04 and a beta of 0.93. The business has a 50-day moving average price of $40.92 and a 200 day moving average price of $38.20. 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 Inc. has a twelve month low of $32.76 and a twelve month high of $42.61.

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

Enbridge Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Friday, November 15th will be paid a $0.676 dividend. The ex-dividend date of this dividend is Friday, November 15th. This is an increase from Enbridge’s previous quarterly dividend of $0.67. This represents a $2.70 dividend on an annualized basis and a dividend yield of 6.39%. Enbridge’s dividend payout ratio (DPR) 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.