Integrated Investment Consultants LLC Makes New $5.99 Million Investment in Enbridge Inc. (NYSE:ENB)

Integrated Investment Consultants LLC acquired a new stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 147,411 shares of the pipeline company’s stock, valued at approximately $5,986,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. BNP Paribas Financial Markets grew its position in Enbridge by 19.4% during the first quarter. BNP Paribas Financial Markets now owns 6,991 shares of the pipeline company’s stock worth $253,000 after buying an additional 1,136 shares in the last quarter. State Board of Administration of Florida Retirement System acquired a new stake in shares of Enbridge during the 1st quarter worth approximately $1,133,000. Acadian Asset Management LLC bought a new stake in shares of Enbridge during the first quarter valued at approximately $1,146,000. Ameritas Investment Partners Inc. acquired a new position in shares of Enbridge in the first quarter valued at $29,000. Finally, UniSuper Management Pty Ltd lifted its position in Enbridge by 89.9% in the first quarter. UniSuper Management Pty Ltd now owns 30,000 shares of the pipeline company’s stock worth $1,085,000 after purchasing an additional 14,200 shares during the period. Institutional investors and hedge funds own 54.60% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Wells Fargo & Company upgraded shares of Enbridge from an “underweight” rating to an “equal weight” rating in a research report on Wednesday, November 6th. Morgan Stanley began coverage on Enbridge in a report on Friday, October 25th. They set an “equal weight” rating on the stock. Finally, Jefferies Financial Group downgraded Enbridge from a “buy” rating to a “hold” rating in a research report on Monday, September 30th.

Enbridge Stock Performance

ENB stock opened at $42.79 on Thursday. The company has a 50 day moving average price of $41.29 and a 200 day moving average price of $38.59. Enbridge Inc. has a fifty-two week low of $32.85 and a fifty-two week high of $43.31. The company has a debt-to-equity ratio of 1.41, a current ratio of 0.62 and a quick ratio of 0.54. The stock has a market capitalization of $93.19 billion, a PE ratio of 19.81, a price-to-earnings-growth ratio of 4.18 and a beta of 0.93.

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

Enbridge Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Friday, November 15th will be issued a $0.676 dividend. The ex-dividend date is Friday, November 15th. This is a positive change from Enbridge’s previous quarterly dividend of $0.67. This represents a $2.70 annualized dividend and a yield of 6.32%. Enbridge’s dividend payout ratio (DPR) is 121.76%.

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.