BNP Paribas Financial Markets Purchases 47,063 Shares of Enbridge Inc. (NYSE:ENB)

BNP Paribas Financial Markets raised its stake in shares of Enbridge Inc. (NYSE:ENB - Free Report) TSE: ENB by 734.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 53,467 shares of the pipeline company's stock after purchasing an additional 47,063 shares during the quarter. BNP Paribas Financial Markets' holdings in Enbridge were worth $2,171,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Swiss National Bank boosted its stake in shares of Enbridge by 3.2% in the 3rd quarter. Swiss National Bank now owns 6,585,231 shares of the pipeline company's stock valued at $267,935,000 after purchasing an additional 207,200 shares in the last quarter. Pinnacle Financial Partners Inc lifted its holdings in Enbridge by 8.8% in the third quarter. Pinnacle Financial Partners Inc now owns 188,244 shares of the pipeline company's stock worth $7,650,000 after buying an additional 15,207 shares during the period. Stonegate Investment Group LLC boosted its position in shares of Enbridge by 66.5% during the third quarter. Stonegate Investment Group LLC now owns 33,833 shares of the pipeline company's stock valued at $1,374,000 after purchasing an additional 13,515 shares in the last quarter. CIBC Asset Management Inc boosted its holdings in shares of Enbridge by 4.0% during the 3rd quarter. CIBC Asset Management Inc now owns 24,161,024 shares of the pipeline company's stock valued at $984,205,000 after buying an additional 936,863 shares in the last quarter. Finally, Lindbrook Capital LLC grew its holdings in Enbridge by 816.2% in the third quarter. Lindbrook Capital LLC now owns 21,714 shares of the pipeline company's stock worth $882,000 after purchasing an additional 19,344 shares during the period. 54.60% of the stock is currently owned by hedge funds and other institutional investors.

Enbridge Stock Performance

Shares of ENB stock traded down $0.78 during trading hours on Friday, reaching $43.14. The company had a trading volume of 4,658,510 shares, compared to its average volume of 4,341,864. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.54 and a current ratio of 0.62. The business has a fifty day moving average price of $41.89 and a 200-day moving average price of $39.11. Enbridge Inc. has a one year low of $32.85 and a one year high of $44.13. The firm has a market cap of $93.96 billion, a PE ratio of 19.97, a price-to-earnings-growth ratio of 4.30 and a beta of 0.94.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last released its quarterly earnings results on Friday, November 1st. The pipeline company reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.15. Enbridge had a return on equity of 9.94% and a net margin of 13.54%. The firm had revenue of $10.91 billion for the quarter, compared to analysts' expectations of $4.54 billion. During the same period in the prior year, the firm earned $0.46 EPS. Sell-side analysts predict that Enbridge Inc. will post 2.03 earnings per share for the current fiscal year.

Enbridge Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Saturday, February 15th will be given a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a dividend yield of 6.21%. The ex-dividend date of this dividend is Friday, February 14th. Enbridge's payout ratio is currently 124.07%.

Analyst Ratings Changes

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

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.