Public Employees Retirement System of Ohio Makes New $17.85 Million Investment in Enbridge Inc. (NYSE:ENB)

Public Employees Retirement System of Ohio acquired a new position in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 439,201 shares of the pipeline company’s stock, valued at approximately $17,848,000.

Several other large investors have also recently added to or reduced their stakes in ENB. TruNorth Capital Management LLC bought a new stake in Enbridge during the second quarter worth about $28,000. William B. Walkup & Associates Inc. bought a new stake in shares of Enbridge during the second quarter valued at approximately $28,000. Grove Bank & Trust grew its stake in shares of Enbridge by 56.7% during the third quarter. Grove Bank & Trust now owns 771 shares of the pipeline company’s stock valued at $31,000 after purchasing an additional 279 shares during the last quarter. MFA Wealth Advisors LLC grew its stake in shares of Enbridge by 55.6% during the third quarter. MFA Wealth Advisors LLC now owns 784 shares of the pipeline company’s stock valued at $32,000 after purchasing an additional 280 shares during the last quarter. Finally, Fortitude Family Office LLC bought a new stake in shares of Enbridge during the third quarter valued at approximately $35,000. 54.60% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have recently commented on ENB shares. Wells Fargo & Company raised shares of Enbridge from an “underweight” rating to an “equal weight” rating in a research note on Wednesday, November 6th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $63.00 price objective (up from $59.00) on shares of Enbridge in a research note on Wednesday, December 4th. Jefferies Financial Group cut shares of Enbridge from a “buy” rating to a “hold” rating in a research note on Monday, September 30th. Finally, Morgan Stanley assumed coverage on shares of Enbridge in a research note on Friday, October 25th. They issued an “equal weight” rating on the stock. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $63.00.

Enbridge Trading Down 0.1 %

ENB opened at $42.32 on Wednesday. The stock has a market capitalization of $92.16 billion, a P/E ratio of 19.59, a P/E/G ratio of 4.26 and a beta of 0.94. Enbridge Inc. has a 12 month low of $32.85 and a 12 month high of $44.13. The firm’s fifty day simple moving average is $41.92 and its 200 day simple moving average is $39.17. 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 (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. The firm had revenue of $10.91 billion for the quarter, compared to analysts’ expectations of $4.54 billion. Enbridge had a net margin of 13.54% and a return on equity of 9.94%. During the same period in the previous year, the firm posted $0.46 EPS. As a group, research analysts anticipate that Enbridge Inc. will post 2.03 EPS for the current fiscal year.

Enbridge Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Saturday, February 15th will be paid a $0.67 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.68 dividend on an annualized basis and a yield of 6.33%. Enbridge’s dividend payout ratio (DPR) is currently 121.76%.

Enbridge Company 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.