Charles Schwab Investment Management Inc. Buys 242,424 Shares of Enbridge Inc. (NYSE:ENB)

Charles Schwab Investment Management Inc. lifted its stake in shares of Enbridge Inc. (NYSE:ENB - Free Report) TSE: ENB by 4.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,845,232 shares of the pipeline company's stock after purchasing an additional 242,424 shares during the period. Charles Schwab Investment Management Inc. owned 0.27% of Enbridge worth $237,698,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. TruNorth Capital Management LLC purchased a new stake in Enbridge in the 2nd quarter worth about $28,000. William B. Walkup & Associates Inc. bought a new stake in shares of Enbridge in the second quarter valued at approximately $28,000. Ameritas Investment Partners Inc. purchased a new stake in shares of Enbridge during the 1st quarter valued at approximately $29,000. Grove Bank & Trust boosted its holdings in Enbridge by 56.7% in the 3rd quarter. Grove Bank & Trust now owns 771 shares of the pipeline company's stock worth $31,000 after buying an additional 279 shares during the period. Finally, MFA Wealth Advisors LLC grew its position in shares of Enbridge by 55.6% in the third quarter. MFA Wealth Advisors LLC now owns 784 shares of the pipeline company's stock valued at $32,000 after purchasing an additional 280 shares in the last quarter. Institutional investors own 54.60% of the company's stock.

Analyst Ratings Changes

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

Enbridge Price Performance

ENB traded down $0.23 during trading on Friday, reaching $43.26. The stock had a trading volume of 4,554,010 shares, compared to its average volume of 4,174,113. The business has a 50-day moving average of $41.40 and a 200-day moving average of $38.68. Enbridge Inc. has a one year low of $32.85 and a one year high of $43.70. 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 stock has a market cap of $94.22 billion, a PE ratio of 20.03, a PEG ratio of 4.23 and a beta of 0.93.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last announced its quarterly earnings data on Friday, November 1st. The pipeline company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.40 by $0.15. The firm 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 period in the prior year, the company earned $0.46 EPS. As a group, equities research analysts anticipate that Enbridge Inc. will post 2.06 EPS for the current fiscal year.

Enbridge Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Friday, November 15th will be paid a $0.676 dividend. This is a boost from Enbridge's previous quarterly dividend of $0.67. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.70 dividend on an annualized basis and a dividend yield of 6.25%. Enbridge's dividend 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.