Enbridge Inc. (NYSE:ENB) Holdings Boosted by Infrastructure Capital Advisors LLC

Infrastructure Capital Advisors LLC grew its stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 34.1% during the 3rd quarter, HoldingsChannel reports. The fund owned 117,119 shares of the pipeline company’s stock after acquiring an additional 29,762 shares during the period. Infrastructure Capital Advisors LLC’s holdings in Enbridge were worth $4,756,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Swiss National Bank grew its holdings 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 valued at $267,935,000 after acquiring an additional 207,200 shares in the last quarter. Pinnacle Financial Partners Inc grew its holdings 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 valued at $7,650,000 after acquiring an additional 15,207 shares in the last quarter. Stonegate Investment Group LLC grew its holdings 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 valued at $1,374,000 after acquiring an additional 13,515 shares in the last quarter. CIBC Asset Management Inc grew its holdings 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 valued at $984,205,000 after acquiring an additional 936,863 shares in the last quarter. Finally, Lindbrook Capital LLC grew its holdings 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 valued at $882,000 after acquiring an additional 19,344 shares in the last quarter. 54.60% of the stock is currently owned by hedge funds and other institutional investors.

Enbridge Trading Up 0.5 %

Shares of NYSE:ENB opened at $42.90 on Friday. The stock has a market capitalization of $93.44 billion, a PE ratio of 19.86, a P/E/G ratio of 4.22 and a beta of 0.93. The company has a current ratio of 0.62, a quick ratio of 0.54 and a debt-to-equity ratio of 1.41. Enbridge Inc. has a 1 year low of $32.85 and a 1 year high of $43.70. The firm has a fifty day moving average price of $41.57 and a 200 day moving average price of $38.82.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings results on Friday, November 1st. The pipeline company reported $0.55 earnings per share (EPS) 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 during the quarter, compared to analysts’ expectations of $4.54 billion. During the same period in the prior year, the company earned $0.46 earnings per share. Analysts expect that Enbridge Inc. will post 2.04 EPS for the current fiscal year.

Enbridge Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Friday, November 15th will be issued a dividend of $0.676 per share. This represents a $2.70 dividend on an annualized basis and a yield of 6.30%. This is a boost from Enbridge’s previous quarterly dividend of $0.67. The ex-dividend date is Friday, November 15th. Enbridge’s dividend payout ratio is 121.76%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on ENB shares. Morgan Stanley started coverage on shares of Enbridge in a report on Friday, October 25th. They issued an “equal weight” rating for the company. Wells Fargo & Company upgraded shares of Enbridge from an “underweight” rating to an “equal weight” rating in a report on Wednesday, November 6th. Finally, Jefferies Financial Group cut shares of Enbridge from a “buy” rating to a “hold” rating in a report 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.