Segall Bryant & Hamill LLC Makes New $976,000 Investment in Enbridge Inc. (NYSE:ENB)

Segall Bryant & Hamill LLC bought a new position in Enbridge Inc. (NYSE:ENB) (TSE:ENB) in the third quarter, according to the company in its most recent disclosure with the SEC. The fund bought 24,024 shares of the pipeline company’s stock, valued at approximately $976,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Swiss National Bank boosted its stake in shares of Enbridge by 3.2% during the 3rd quarter. Swiss National Bank now owns 6,585,231 shares of the pipeline company’s stock worth $267,935,000 after acquiring an additional 207,200 shares during the last quarter. Pinnacle Financial Partners Inc boosted its stake in shares of Enbridge by 8.8% during the 3rd quarter. Pinnacle Financial Partners Inc now owns 188,244 shares of the pipeline company’s stock worth $7,650,000 after acquiring an additional 15,207 shares during the last quarter. Stonegate Investment Group LLC boosted its stake in shares of Enbridge by 66.5% during the 3rd quarter. Stonegate Investment Group LLC now owns 33,833 shares of the pipeline company’s stock worth $1,374,000 after acquiring an additional 13,515 shares during the last quarter. CIBC Asset Management Inc boosted its stake in shares of Enbridge by 4.0% during the 3rd quarter. CIBC Asset Management Inc now owns 24,161,024 shares of the pipeline company’s stock worth $984,205,000 after acquiring an additional 936,863 shares during the last quarter. Finally, Lindbrook Capital LLC boosted its stake in shares of Enbridge by 816.2% during the 3rd quarter. Lindbrook Capital LLC now owns 21,714 shares of the pipeline company’s stock worth $882,000 after acquiring an additional 19,344 shares during the last quarter. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Analyst Upgrades and Downgrades

ENB has been the topic of several analyst reports. Wells Fargo & Company upgraded shares of Enbridge from an “underweight” rating to an “equal weight” rating in a research note on Wednesday, November 6th. Jefferies Financial Group cut shares of Enbridge from a “buy” rating to a “hold” rating in a research note on Monday, September 30th. Finally, Morgan Stanley started coverage on shares of Enbridge in a research note on Friday, October 25th. They set an “equal weight” rating on the stock.

Enbridge Stock Down 0.5 %

ENB opened at $43.26 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. Enbridge Inc. has a fifty-two week low of $32.85 and a fifty-two week high of $43.70. The firm’s fifty day moving average is $41.40 and its 200 day moving average is $38.68. The stock has a market cap of $94.22 billion, a price-to-earnings ratio of 20.03, a price-to-earnings-growth ratio of 4.23 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 earnings per share for the quarter, beating analysts’ consensus estimates of $0.40 by $0.15. Enbridge had a net margin of 13.54% and a return on equity of 9.94%. 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 previous year, the company earned $0.46 EPS. On average, sell-side analysts forecast that Enbridge Inc. will post 2.06 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The business also recently declared 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 is Friday, November 15th. This represents a $2.70 annualized dividend and a yield of 6.25%. This is a boost from Enbridge’s previous quarterly dividend of $0.67. Enbridge’s payout ratio is presently 121.76%.

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.