Prospera Financial Services Inc Purchases 1,703 Shares of Enbridge Inc. (NYSE:ENB)

Prospera Financial Services Inc increased its position in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 5.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 32,513 shares of the pipeline company’s stock after buying an additional 1,703 shares during the period. Prospera Financial Services Inc’s holdings in Enbridge were worth $1,321,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of ENB. Swiss National Bank lifted its holdings in shares of Enbridge by 3.2% during the third quarter. Swiss National Bank now owns 6,585,231 shares of the pipeline company’s stock worth $267,935,000 after buying an additional 207,200 shares during the last quarter. Pinnacle Financial Partners Inc raised its stake in Enbridge by 8.8% during the 3rd quarter. Pinnacle Financial Partners Inc now owns 188,244 shares of the pipeline company’s stock valued at $7,650,000 after purchasing an additional 15,207 shares during the last quarter. Stonegate Investment Group LLC raised its stake in Enbridge by 66.5% during the 3rd 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 during the last quarter. CIBC Asset Management Inc boosted its holdings in Enbridge by 4.0% in the 3rd quarter. CIBC Asset Management Inc now owns 24,161,024 shares of the pipeline company’s stock valued at $984,205,000 after purchasing an additional 936,863 shares during the period. Finally, Lindbrook Capital LLC grew its position in Enbridge by 816.2% in the 3rd quarter. Lindbrook Capital LLC now owns 21,714 shares of the pipeline company’s stock worth $882,000 after purchasing an additional 19,344 shares during the last quarter. 54.60% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Enbridge Price Performance

Enbridge stock opened at $43.46 on Friday. The business’s fifty day moving average is $41.34 and its two-hundred day moving average is $38.62. 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 firm has a market cap of $94.65 billion, a P/E ratio of 20.12, a P/E/G ratio of 4.18 and a beta of 0.93. Enbridge Inc. has a 52 week low of $32.85 and a 52 week high of $43.55.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings data on Friday, November 1st. The pipeline company reported $0.55 EPS for the quarter, topping 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 firm had revenue of $10.91 billion during the quarter, compared to analyst estimates of $4.54 billion. During the same period last year, the company earned $0.46 earnings per share. Equities research 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. Stockholders of record on Friday, November 15th will be given a $0.676 dividend. This is a positive change from Enbridge’s previous quarterly dividend of $0.67. This represents a $2.70 annualized dividend and a dividend yield of 6.22%. The ex-dividend date of this dividend is Friday, November 15th. Enbridge’s dividend payout ratio (DPR) is currently 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.