PNC Financial Services Group Inc. Purchases 10,223 Shares of Enbridge Inc. (NYSE:ENB)

PNC Financial Services Group Inc. increased its holdings in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 2.7% during the 3rd quarter, Holdings Channel reports. The firm owned 394,264 shares of the pipeline company’s stock after buying an additional 10,223 shares during the period. PNC Financial Services Group Inc.’s holdings in Enbridge were worth $16,011,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of ENB. Banque Cantonale Vaudoise increased its stake in shares of Enbridge by 17.9% during the third quarter. Banque Cantonale Vaudoise now owns 7,899 shares of the pipeline company’s stock valued at $321,000 after buying an additional 1,202 shares during the period. Fifth Third Wealth Advisors LLC increased its position in Enbridge by 142.6% during the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 14,134 shares of the pipeline company’s stock valued at $574,000 after purchasing an additional 8,308 shares during the period. Prospera Financial Services Inc raised its holdings in Enbridge by 5.5% in the 3rd quarter. Prospera Financial Services Inc now owns 32,513 shares of the pipeline company’s stock worth $1,321,000 after purchasing an additional 1,703 shares in the last quarter. Verity & Verity LLC lifted its position in shares of Enbridge by 3.0% in the 3rd quarter. Verity & Verity LLC now owns 496,063 shares of the pipeline company’s stock worth $20,145,000 after purchasing an additional 14,498 shares during the period. Finally, J. W. Coons Advisors LLC boosted its stake in shares of Enbridge by 0.8% during the 3rd quarter. J. W. Coons Advisors LLC now owns 73,878 shares of the pipeline company’s stock valued at $3,000,000 after purchasing an additional 600 shares in the last quarter. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on ENB shares. Morgan Stanley initiated coverage on shares of Enbridge in a report on Friday, October 25th. They issued an “equal weight” rating for the company. Wells Fargo & Company raised Enbridge from an “underweight” rating to an “equal weight” rating in a research note on Wednesday, November 6th. Finally, Jefferies Financial Group lowered Enbridge from a “buy” rating to a “hold” rating in a research report on Monday, September 30th.

Enbridge Price Performance

Shares of NYSE ENB opened at $43.46 on Friday. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.54 and a current ratio of 0.62. The company has a 50 day simple moving average of $41.34 and a two-hundred day simple moving average of $38.62. Enbridge Inc. has a fifty-two week low of $32.85 and a fifty-two week high of $43.55. The company has a market capitalization of $94.65 billion, a price-to-earnings ratio of 20.12, a P/E/G ratio of 4.18 and a beta of 0.93.

Enbridge (NYSE:ENB) (TSE:ENB) last released its earnings results on Friday, November 1st. The pipeline company reported $0.55 EPS for the quarter, topping 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 business had revenue of $10.91 billion for the quarter, compared to the consensus estimate of $4.54 billion. During the same period in the previous year, the company posted $0.46 earnings per share. Analysts expect that Enbridge Inc. will post 2.06 EPS for the current fiscal year.

Enbridge Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Investors 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 6.22%. This is an increase from Enbridge’s previous quarterly dividend of $0.67. The ex-dividend date is Friday, November 15th. Enbridge’s dividend 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.