Enbridge Inc. (NYSE:ENB) Stake Decreased by Morgan Stanley Institutional Investment Advisors LLC

Morgan Stanley Institutional Investment Advisors LLC reduced its position in Enbridge Inc. (NYSE:ENB - Free Report) TSE: ENB by 2.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,431,738 shares of the pipeline company's stock after selling 208,985 shares during the quarter. Enbridge comprises about 76.9% of Morgan Stanley Institutional Investment Advisors LLC's portfolio, making the stock its largest position. Morgan Stanley Institutional Investment Advisors LLC owned about 0.39% of Enbridge worth $342,413,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in ENB. BNP Paribas Financial Markets boosted its position in Enbridge by 19.4% during the 1st quarter. BNP Paribas Financial Markets now owns 6,991 shares of the pipeline company's stock worth $253,000 after buying an additional 1,136 shares during the period. State Board of Administration of Florida Retirement System acquired a new stake in Enbridge during the 1st quarter worth approximately $1,133,000. Acadian Asset Management LLC acquired a new stake in Enbridge during the 1st quarter worth approximately $1,146,000. Ameritas Investment Partners Inc. acquired a new stake in Enbridge during the 1st quarter worth approximately $29,000. Finally, Bessemer Group Inc. boosted its position in Enbridge by 94.8% during the 1st quarter. Bessemer Group Inc. now owns 91,167 shares of the pipeline company's stock worth $3,295,000 after buying an additional 44,368 shares during the period. 54.60% of the stock is currently owned by institutional investors and hedge funds.

Enbridge Stock Down 0.5 %

ENB stock traded down $0.23 during midday trading on Friday, reaching $43.26. 4,413,849 shares of the company's stock traded hands, compared to its average volume of 4,853,947. The company has a market cap of $94.22 billion, a price-to-earnings ratio of 20.18, a P/E/G ratio of 4.18 and a beta of 0.93. The firm's fifty day moving average price is $41.34 and its 200-day moving average price is $38.62. 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 52 week low of $32.85 and a 52 week high of $43.70.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last announced its quarterly earnings results on Friday, November 1st. The pipeline company reported $0.55 EPS for the quarter, beating analysts' consensus estimates of $0.40 by $0.15. The business had revenue of $10.91 billion during the quarter, compared to analyst estimates of $4.54 billion. Enbridge had a net margin of 13.54% and a return on equity of 9.94%. During the same quarter in the previous year, the business posted $0.46 EPS. As a group, sell-side analysts forecast that Enbridge Inc. will post 2.06 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Friday, November 15th will be issued a dividend of $0.676 per share. This represents a $2.70 dividend on an annualized basis and a yield of 6.25%. This is an increase from Enbridge's previous quarterly dividend of $0.67. The ex-dividend date of this dividend is Friday, November 15th. Enbridge's payout ratio is currently 121.76%.

Analysts Set New Price Targets

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

Enbridge Company 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.