4,411 Shares in Enbridge Inc. (NYSE:ENB) Acquired by Coastline Trust Co

Coastline Trust Co acquired a new stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 4,411 shares of the pipeline company’s stock, valued at approximately $179,000.

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

Enbridge Stock Performance

Shares of ENB stock opened at $42.18 on Friday. 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 12-month low of $32.76 and a 12-month high of $43.31. The company has a market cap of $91.86 billion, a price-to-earnings ratio of 19.53, a price-to-earnings-growth ratio of 4.13 and a beta of 0.93. The stock has a 50 day simple moving average of $41.15 and a 200-day simple moving average of $38.45.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings data on Friday, November 1st. The pipeline company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.15. The firm 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 prior year, the business posted $0.46 earnings per share. On average, equities analysts forecast that Enbridge Inc. will post 2.06 EPS for the current year.

Enbridge Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Investors of record on Friday, November 15th will be issued 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 an increase from Enbridge’s previous quarterly dividend of $0.67. Enbridge’s payout ratio is currently 121.76%.

Analyst Ratings Changes

Several equities research analysts have recently commented on ENB shares. Wells Fargo & Company upgraded Enbridge from an “underweight” rating to an “equal weight” rating in a research note on Wednesday, November 6th. Morgan Stanley assumed coverage on shares of Enbridge in a research note on Friday, October 25th. They issued an “equal weight” rating for the company. Finally, Jefferies Financial Group lowered shares of 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.