Barclays PLC Increases Holdings in Enbridge Inc. (NYSE:ENB)

Barclays PLC boosted its position in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 8.3% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 584,020 shares of the pipeline company’s stock after purchasing an additional 44,675 shares during the quarter. Barclays PLC’s holdings in Enbridge were worth $23,717,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of ENB. Blue Trust Inc. lifted its stake in Enbridge by 12.9% in the second quarter. Blue Trust Inc. now owns 9,819 shares of the pipeline company’s stock worth $355,000 after acquiring an additional 1,125 shares during the period. Brookstone Capital Management raised its holdings in shares of Enbridge by 3.1% in the 2nd quarter. Brookstone Capital Management now owns 47,724 shares of the pipeline company’s stock valued at $1,730,000 after purchasing an additional 1,424 shares in the last quarter. Sumitomo Life Insurance Co. purchased a new stake in shares of Enbridge in the 2nd quarter worth approximately $727,000. MONECO Advisors LLC bought a new position in shares of Enbridge during the second quarter valued at approximately $435,000. Finally, Meridian Investment Counsel Inc. increased its holdings in Enbridge by 6.4% during the second quarter. Meridian Investment Counsel Inc. now owns 6,261 shares of the pipeline company’s stock valued at $223,000 after buying an additional 374 shares during the period. 54.60% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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

Enbridge Stock Performance

Shares of ENB opened at $41.91 on Friday. The company has a current ratio of 0.62, a quick ratio of 0.54 and a debt-to-equity ratio of 1.41. The firm has a market cap of $91.28 billion, a PE ratio of 19.40, a P/E/G ratio of 4.18 and a beta of 0.94. Enbridge Inc. has a 12 month low of $32.85 and a 12 month high of $44.13. The stock has a fifty day moving average price of $42.02 and a 200-day moving average price of $39.32.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings results on Friday, November 1st. The pipeline company reported $0.55 EPS for the quarter, beating 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 analysts’ expectations of $4.54 billion. During the same period last year, the business posted $0.46 earnings per share. Equities research analysts predict that Enbridge Inc. will post 2.03 earnings per share for the current fiscal year.

Enbridge Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Saturday, February 15th will be paid 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 yield of 6.39%. Enbridge’s payout ratio is 121.76%.

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.