BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Acquires 4,502,115 Shares of Enbridge Inc. (NYSE:ENB)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its stake in shares of Enbridge Inc. (NYSE:ENB - Free Report) TSE: ENB by 1,514.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,799,345 shares of the pipeline company's stock after acquiring an additional 4,502,115 shares during the quarter. Enbridge comprises approximately 1.2% of BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp's portfolio, making the stock its 18th biggest position. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp owned approximately 0.22% of Enbridge worth $194,938,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. Richardson Financial Services Inc. raised its position in Enbridge by 28.4% in the 3rd quarter. Richardson Financial Services Inc. now owns 1,112 shares of the pipeline company's stock worth $45,000 after buying an additional 246 shares during the last quarter. Associated Banc Corp grew its position in Enbridge by 3.6% in the 3rd quarter. Associated Banc Corp now owns 7,091 shares of the pipeline company's stock worth $288,000 after purchasing an additional 248 shares during the period. Centaurus Financial Inc. raised its stake in Enbridge by 1.7% during the 3rd quarter. Centaurus Financial Inc. now owns 14,980 shares of the pipeline company's stock valued at $608,000 after buying an additional 256 shares during the last quarter. First PREMIER Bank lifted its holdings in shares of Enbridge by 1.7% during the 3rd quarter. First PREMIER Bank now owns 15,534 shares of the pipeline company's stock valued at $631,000 after buying an additional 257 shares during the period. Finally, Keudell Morrison Wealth Management boosted its stake in shares of Enbridge by 1.4% in the 3rd quarter. Keudell Morrison Wealth Management now owns 20,242 shares of the pipeline company's stock worth $822,000 after buying an additional 277 shares during the last quarter. Institutional investors own 54.60% of the company's stock.

Enbridge Stock Performance

Enbridge stock traded up $0.48 during midday trading on Friday, hitting $43.38. The stock had a trading volume of 2,648,406 shares, compared to its average volume of 4,852,503. 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 52-week low of $32.85 and a 52-week high of $43.70. The company has a market capitalization of $94.48 billion, a PE ratio of 20.09, a P/E/G ratio of 4.22 and a beta of 0.93. The firm's fifty day moving average is $41.62 and its two-hundred day moving average is $38.86.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last released its earnings results on Friday, November 1st. The pipeline company reported $0.55 earnings per share for the quarter, beating analysts' consensus estimates of $0.40 by $0.15. Enbridge had a net margin of 13.54% and a return on equity of 9.94%. The company had revenue of $10.91 billion for the quarter, compared to analysts' expectations of $4.54 billion. During the same quarter in the previous year, the company earned $0.46 EPS. On average, 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 issued a $0.676 dividend. The ex-dividend date is Friday, November 15th. This is a boost from Enbridge's previous quarterly dividend of $0.67. This represents a $2.70 dividend on an annualized basis and a yield of 6.23%. Enbridge's payout ratio is currently 121.76%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on ENB. Morgan Stanley assumed coverage on Enbridge in a research report on Friday, October 25th. They issued an "equal weight" rating on the stock. Jefferies Financial Group cut shares of Enbridge from a "buy" rating to a "hold" rating in a report on Monday, September 30th. Finally, Wells Fargo & Company upgraded Enbridge from an "underweight" rating to an "equal weight" rating in a research note on Wednesday, November 6th.

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.