Connor Clark & Lunn Investment Management Ltd. boosted its stake in Enbridge Inc. (NYSE:ENB - Free Report) TSE: ENB by 27.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,278,739 shares of the pipeline company's stock after purchasing an additional 2,668,692 shares during the quarter. Enbridge comprises approximately 2.4% of Connor Clark & Lunn Investment Management Ltd.'s portfolio, making the stock its 4th biggest holding. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.56% of Enbridge worth $498,734,000 as of its most recent SEC filing.
Several other hedge funds also recently made changes to their positions in ENB. 1832 Asset Management L.P. grew its stake in shares of Enbridge by 3.9% during the 1st quarter. 1832 Asset Management L.P. now owns 36,649,579 shares of the pipeline company's stock valued at $1,325,982,000 after acquiring an additional 1,360,439 shares during the period. Cibc World Market Inc. raised its stake in shares of Enbridge by 12.8% in the second quarter. Cibc World Market Inc. now owns 32,531,675 shares of the pipeline company's stock worth $1,157,802,000 after purchasing an additional 3,693,495 shares during the last quarter. CIBC Asset Management Inc raised its position in Enbridge by 4.0% during the third quarter. CIBC Asset Management Inc now owns 24,161,024 shares of the pipeline company's stock valued at $984,205,000 after acquiring an additional 936,863 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC increased its position in shares of Enbridge by 3.7% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 23,083,951 shares of the pipeline company's stock valued at $821,331,000 after buying an additional 827,540 shares in the last quarter. Finally, Toronto Dominion Bank boosted its stake in shares of Enbridge by 3.6% in the second quarter. Toronto Dominion Bank now owns 18,703,423 shares of the pipeline company's stock worth $665,655,000 after acquiring an additional 644,526 shares during the last quarter. 54.60% of the stock is owned by hedge funds and other institutional investors.
Enbridge Stock Down 0.4 %
Shares of ENB traded down $0.19 on Wednesday, hitting $42.79. The company's stock had a trading volume of 2,911,368 shares, compared to its average volume of 4,860,121. The firm has a market capitalization of $93.20 billion, a price-to-earnings ratio of 19.78, a P/E/G ratio of 4.10 and a beta of 0.93. The company has a quick ratio of 0.54, a current ratio of 0.62 and a debt-to-equity ratio of 1.41. Enbridge Inc. has a fifty-two week low of $32.85 and a fifty-two week high of $43.31. The firm's fifty day moving average price is $41.23 and its 200-day moving average price is $38.56.
Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last released its 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 for the quarter, compared to analysts' expectations of $4.54 billion. During the same period in the previous year, the business posted $0.46 EPS. On average, equities research analysts expect that Enbridge Inc. will post 2.06 EPS for the current year.
Enbridge Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Investors of record on Friday, November 15th will be issued a dividend of $0.676 per share. This represents a $2.70 annualized dividend and a yield of 6.32%. This is a positive change from Enbridge's previous quarterly dividend of $0.67. The ex-dividend date of this dividend is Friday, November 15th. Enbridge's dividend payout ratio (DPR) is presently 121.76%.
Analyst Ratings Changes
ENB has been the topic of several recent research reports. Wells Fargo & Company upgraded Enbridge from an "underweight" rating to an "equal weight" rating in a report on Wednesday, November 6th. Jefferies Financial Group downgraded shares of Enbridge from a "buy" rating to a "hold" rating in a research note on Monday, September 30th. Finally, Morgan Stanley began coverage on shares of Enbridge in a report on Friday, October 25th. They set an "equal weight" rating for the company.
Check Out Our Latest Report on ENB
Enbridge Company Profile
(
Free Report)
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.
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