Euro Pacific Asset Management LLC Boosts Stake in Enbridge Inc. (NYSE:ENB)

Euro Pacific Asset Management LLC raised its position in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 3.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,140 shares of the pipeline company’s stock after purchasing an additional 310 shares during the quarter. Euro Pacific Asset Management LLC’s holdings in Enbridge were worth $417,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Pathway Financial Advisers LLC lifted its holdings in Enbridge by 4,120.0% during the 3rd quarter. Pathway Financial Advisers LLC now owns 4,571,669 shares of the pipeline company’s stock worth $185,655,000 after buying an additional 4,463,335 shares in the last quarter. Cibc World Market Inc. boosted its holdings in Enbridge by 12.8% in the second quarter. Cibc World Market Inc. now owns 32,531,675 shares of the pipeline company’s stock valued at $1,157,802,000 after purchasing an additional 3,693,495 shares during the period. Canada Pension Plan Investment Board increased its holdings in Enbridge by 66.9% during the 1st quarter. Canada Pension Plan Investment Board now owns 9,044,864 shares of the pipeline company’s stock worth $327,172,000 after purchasing an additional 3,624,089 shares during the period. National Bank of Canada FI boosted its stake in shares of Enbridge by 11.3% in the 1st quarter. National Bank of Canada FI now owns 21,664,748 shares of the pipeline company’s stock valued at $818,370,000 after buying an additional 2,203,123 shares during the period. Finally, 1832 Asset Management L.P. grew its position in shares of Enbridge by 3.9% during the first quarter. 1832 Asset Management L.P. now owns 36,649,579 shares of the pipeline company’s stock worth $1,325,982,000 after buying an additional 1,360,439 shares in the last quarter. 54.60% of the stock is currently owned by hedge funds and other institutional investors.

Enbridge Stock Down 2.1 %

ENB opened at $42.18 on Friday. Enbridge Inc. has a one year low of $32.76 and a one year high of $43.31. 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 stock has a market capitalization of $91.86 billion, a P/E ratio of 19.53, a price-to-earnings-growth ratio of 4.13 and a beta of 0.93. The business’s 50-day simple moving average is $41.15 and its 200-day simple moving average is $38.43.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings data 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. The company had revenue of $10.91 billion during the quarter, compared to analysts’ expectations of $4.54 billion. Enbridge had a return on equity of 9.94% and a net margin of 13.54%. During the same quarter in the previous year, the business earned $0.46 earnings per share. Analysts anticipate that Enbridge Inc. will post 2.06 EPS for the current year.

Enbridge Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Investors of record on Friday, November 15th will be paid a dividend of $0.676 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.70 dividend on an annualized basis and a yield of 6.41%. This is a boost from Enbridge’s previous quarterly dividend of $0.67. Enbridge’s dividend payout ratio is currently 122.22%.

Analysts Set New Price Targets

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

Enbridge 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.