Enbridge Inc. (NYSE:ENB) Shares Acquired by Assetmark Inc.

Assetmark Inc. increased its stake in Enbridge Inc. (NYSE:ENB - Free Report) TSE: ENB by 30.5% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 54,542 shares of the pipeline company's stock after buying an additional 12,743 shares during the quarter. Assetmark Inc.'s holdings in Enbridge were worth $2,215,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of ENB. Verdence Capital Advisors LLC raised its stake in shares of Enbridge by 0.8% during the third quarter. Verdence Capital Advisors LLC now owns 43,660 shares of the pipeline company's stock valued at $1,773,000 after purchasing an additional 362 shares during the period. Holistic Planning LLC grew its holdings in Enbridge by 81.7% during the 3rd quarter. Holistic Planning LLC now owns 12,598 shares of the pipeline company's stock valued at $512,000 after purchasing an additional 5,665 shares in the last quarter. SpiderRock Advisors LLC increased its stake in Enbridge by 28.8% during the 3rd quarter. SpiderRock Advisors LLC now owns 11,615 shares of the pipeline company's stock worth $472,000 after buying an additional 2,594 shares during the period. CWA Asset Management Group LLC acquired a new position in Enbridge in the 3rd quarter worth $1,104,000. Finally, Equitable Trust Co. lifted its holdings in Enbridge by 40.9% in the 3rd quarter. Equitable Trust Co. now owns 16,817 shares of the pipeline company's stock worth $683,000 after buying an additional 4,878 shares in the last quarter. 54.60% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ENB has been the subject of several recent analyst reports. Wells Fargo & Company upgraded Enbridge from an "underweight" rating to an "equal weight" rating in a research note on Wednesday, November 6th. Morgan Stanley began coverage on Enbridge in a research note on Friday, October 25th. They set an "equal weight" rating for the company. Finally, Jefferies Financial Group lowered Enbridge from a "buy" rating to a "hold" rating in a research report on Monday, September 30th.

Enbridge Stock Up 1.4 %

ENB stock traded up $0.60 during mid-day trading on Thursday, hitting $43.09. 5,623,194 shares of the company were exchanged, compared to its average volume of 4,876,183. The firm has a fifty day simple moving average of $41.06 and a 200 day simple moving average of $38.35. The company has a market capitalization of $93.84 billion, a PE ratio of 19.82, a price-to-earnings-growth ratio of 4.10 and a beta of 0.93. Enbridge Inc. has a twelve month low of $32.76 and a twelve month high of $43.31. 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 - Get Free Report) 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 business 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 quarter last year, the company posted $0.46 earnings per share. On average, research analysts forecast that Enbridge Inc. will post 2.06 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Friday, November 15th will be given 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 annualized dividend and a dividend yield of 6.28%. Enbridge's dividend payout ratio (DPR) is presently 122.22%.

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.