Investment Management Corp of Ontario Has $11.86 Million Holdings in Enbridge Inc. (NYSE:ENB)

Investment Management Corp of Ontario lowered its position in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 1.9% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 291,944 shares of the pipeline company’s stock after selling 5,700 shares during the period. Investment Management Corp of Ontario’s holdings in Enbridge were worth $11,856,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Mather Group LLC. boosted its position in Enbridge by 29.5% during the 2nd quarter. Mather Group LLC. now owns 4,587 shares of the pipeline company’s stock worth $166,000 after buying an additional 1,046 shares during the period. Lynx Investment Advisory bought a new stake in shares of Enbridge during the second quarter valued at about $69,000. Kingswood Wealth Advisors LLC boosted its stake in Enbridge by 34.0% in the second quarter. Kingswood Wealth Advisors LLC now owns 9,479 shares of the pipeline company’s stock worth $337,000 after buying an additional 2,407 shares in the last quarter. Park Avenue Securities LLC boosted its stake in shares of Enbridge by 4.6% during the second quarter. Park Avenue Securities LLC now owns 44,916 shares of the pipeline company’s stock valued at $1,598,000 after purchasing an additional 1,994 shares during the period. Finally, CWM LLC raised its holdings in Enbridge by 11.7% in the second quarter. CWM LLC now owns 48,860 shares of the pipeline company’s stock worth $1,739,000 after purchasing an additional 5,118 shares in the last quarter. 54.60% of the stock is currently owned by institutional investors and hedge funds.

Enbridge Stock Performance

Shares of ENB stock opened at $43.36 on Tuesday. The company has a quick ratio of 0.54, a current ratio of 0.62 and a debt-to-equity ratio of 1.41. The business has a 50 day moving average of $41.62 and a two-hundred day moving average of $38.89. The company has a market cap of $94.44 billion, a P/E ratio of 20.08, a PEG ratio of 4.26 and a beta of 0.94. Enbridge Inc. has a 52 week low of $32.85 and a 52 week high of $43.70.

Enbridge (NYSE:ENB) (TSE:ENB) last released its earnings results on Friday, November 1st. The pipeline company reported $0.55 earnings per share for the quarter, topping 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 firm had revenue of $10.91 billion during the quarter, compared to analyst estimates of $4.54 billion. During the same quarter in the previous year, the business earned $0.46 EPS. As a group, analysts anticipate that Enbridge Inc. will post 2.04 EPS for the current year.

Enbridge Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Sunday, December 1st. Stockholders of record on Friday, November 15th were paid a dividend of $0.676 per share. This represents a $2.70 dividend on an annualized basis and a dividend yield of 6.24%. The ex-dividend date of this dividend was Friday, November 15th. This is a boost from Enbridge’s previous quarterly dividend of $0.67. Enbridge’s dividend payout ratio (DPR) is currently 121.76%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on ENB. Wells Fargo & Company raised Enbridge from an “underweight” rating to an “equal weight” rating in a research note on Wednesday, November 6th. Morgan Stanley initiated coverage on Enbridge in a research report on Friday, October 25th. They set an “equal weight” rating on the stock. 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.