Public Sector Pension Investment Board Cuts Stake in Enbridge Inc. (NYSE:ENB)

Public Sector Pension Investment Board cut its holdings in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 1.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 285,240 shares of the pipeline company’s stock after selling 2,935 shares during the quarter. Public Sector Pension Investment Board’s holdings in Enbridge were worth $11,600,000 as of its most recent filing with the Securities & Exchange Commission.

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

Analysts Set New Price Targets

ENB has been the topic of a number of recent research reports. Jefferies Financial Group cut shares of Enbridge from a “buy” rating to a “hold” rating in a research report on Monday, September 30th. Wells Fargo & Company upgraded shares of Enbridge from an “underweight” rating to an “equal weight” rating in a research report on Wednesday, November 6th. Finally, Morgan Stanley began coverage on shares of Enbridge in a report on Friday, October 25th. They issued an “equal weight” rating on the stock.

Enbridge Stock Up 0.5 %

Shares of Enbridge stock opened at $42.90 on Friday. The company’s 50 day moving average price is $41.57 and its 200-day moving average price is $38.82. Enbridge Inc. has a 52-week low of $32.85 and a 52-week high of $43.70. The stock has a market capitalization of $93.44 billion, a price-to-earnings ratio of 19.86, a P/E/G ratio of 4.22 and a beta of 0.93. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.54 and a current ratio of 0.62.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings results on Friday, November 1st. The pipeline company reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.15. Enbridge had a return on equity of 9.94% and a net margin of 13.54%. The company had revenue of $10.91 billion during the quarter, compared to analyst estimates of $4.54 billion. During the same quarter last year, the firm posted $0.46 earnings per share. Equities research analysts forecast that Enbridge Inc. will post 2.04 EPS for the current year.

Enbridge Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Investors of record on Friday, November 15th will be paid a $0.676 dividend. This is a positive change from Enbridge’s previous quarterly dividend of $0.67. The ex-dividend date is Friday, November 15th. This represents a $2.70 dividend on an annualized basis and a yield of 6.30%. Enbridge’s dividend payout ratio (DPR) is presently 121.76%.

About Enbridge

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.