Commonwealth Equity Services LLC Raises Stake in Enbridge Inc. (NYSE:ENB)

Commonwealth Equity Services LLC increased its stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 1.1% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 1,026,920 shares of the pipeline company’s stock after acquiring an additional 11,640 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Enbridge were worth $41,703,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in ENB. Sei Investments Co. raised its holdings in shares of Enbridge by 6.1% in the first quarter. Sei Investments Co. now owns 274,235 shares of the pipeline company’s stock valued at $9,922,000 after acquiring an additional 15,650 shares in the last quarter. Stonegate Investment Group LLC boosted its stake in shares of Enbridge by 66.5% during the third quarter. Stonegate Investment Group LLC now owns 33,833 shares of the pipeline company’s stock valued at $1,374,000 after purchasing an additional 13,515 shares in the last quarter. State Board of Administration of Florida Retirement System purchased a new position in Enbridge during the first quarter valued at approximately $1,133,000. Vanguard Group Inc. lifted its holdings in Enbridge by 1.5% during the first quarter. Vanguard Group Inc. now owns 84,280,486 shares of the pipeline company’s stock worth $3,049,268,000 after buying an additional 1,227,031 shares during the period. Finally, Intech Investment Management LLC bought a new stake in Enbridge during the 1st quarter valued at $4,069,000. 54.60% of the stock is owned by hedge funds and other institutional investors.

Enbridge Stock Performance

Shares of ENB opened at $41.98 on Monday. Enbridge Inc. has a 12 month low of $31.31 and a 12 month high of $42.03. The stock has a fifty day moving average price of $40.38 and a 200-day moving average price of $37.55. The company has a current ratio of 0.77, a quick ratio of 0.68 and a debt-to-equity ratio of 1.34. The firm has a market cap of $89.58 billion, a PE ratio of 21.31, a P/E/G ratio of 3.94 and a beta of 0.93.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings data on Friday, August 2nd. The pipeline company reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.13. The firm had revenue of $8.29 billion for the quarter, compared to the consensus estimate of $4.28 billion. Enbridge had a net margin of 13.31% and a return on equity of 10.07%. During the same quarter in the prior year, the company posted $0.51 earnings per share. Equities research analysts predict that Enbridge Inc. will post 2.08 earnings per share for the current fiscal year.

Enbridge Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Thursday, August 15th were paid a $0.669 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $2.68 dividend on an annualized basis and a yield of 6.37%. Enbridge’s dividend payout ratio (DPR) is 134.01%.

Analysts Set New Price Targets

Separately, Jefferies Financial Group downgraded Enbridge from a “buy” rating to a “hold” rating in a research report on Monday, September 30th.

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.