Northwest & Ethical Investments L.P. Has $34.06 Million Stake in Enbridge Inc. (NYSE:ENB)

Northwest & Ethical Investments L.P. raised its stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 9.4% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 838,283 shares of the pipeline company’s stock after purchasing an additional 71,995 shares during the period. Enbridge accounts for approximately 0.9% of Northwest & Ethical Investments L.P.’s investment portfolio, making the stock its 19th biggest position. Northwest & Ethical Investments L.P.’s holdings in Enbridge were worth $34,056,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ENB. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Enbridge by 3.4% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 912,570 shares of the pipeline company’s stock worth $37,112,000 after purchasing an additional 30,063 shares during the period. CreativeOne Wealth LLC lifted its holdings in Enbridge by 36.8% in the third quarter. CreativeOne Wealth LLC now owns 7,996 shares of the pipeline company’s stock valued at $325,000 after buying an additional 2,152 shares during the period. Townsquare Capital LLC boosted its position in Enbridge by 4.1% during the third quarter. Townsquare Capital LLC now owns 346,999 shares of the pipeline company’s stock valued at $14,092,000 after acquiring an additional 13,780 shares during the last quarter. Transamerica Financial Advisors Inc. grew its holdings in Enbridge by 729.8% during the 3rd quarter. Transamerica Financial Advisors Inc. now owns 1,087 shares of the pipeline company’s stock worth $45,000 after acquiring an additional 956 shares during the period. Finally, BNP Paribas Financial Markets raised its position in shares of Enbridge by 734.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 53,467 shares of the pipeline company’s stock worth $2,171,000 after acquiring an additional 47,063 shares in the last quarter. 54.60% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Enbridge Stock Up 0.5 %

Shares of ENB traded up $0.20 during trading hours on Thursday, hitting $42.90. The stock had a trading volume of 4,077,546 shares, compared to its average volume of 4,862,082. Enbridge Inc. has a 1-year low of $32.85 and a 1-year high of $43.70. The firm has a market capitalization of $93.44 billion, a P/E ratio of 19.86, a price-to-earnings-growth ratio of 4.18 and a beta of 0.93. The firm has a 50 day simple moving average of $41.52 and a 200-day simple moving average of $38.79. The company has a debt-to-equity ratio of 1.41, a current ratio of 0.62 and a quick ratio of 0.54.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings results 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 business had revenue of $10.91 billion for the quarter, compared to analyst estimates 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 company earned $0.46 earnings per share. Sell-side analysts predict that Enbridge Inc. will post 2.06 EPS for the current fiscal year.

Enbridge Increases Dividend

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