Janus Henderson Group PLC Purchases 858,932 Shares of Enbridge Inc. (NYSE:ENB)

Janus Henderson Group PLC increased its position in shares of Enbridge Inc. (NYSE:ENB - Free Report) TSE: ENB by 431.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,057,996 shares of the pipeline company's stock after acquiring an additional 858,932 shares during the quarter. Janus Henderson Group PLC's holdings in Enbridge were worth $42,966,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in ENB. Richardson Financial Services Inc. grew its stake in Enbridge by 28.4% during the 3rd quarter. Richardson Financial Services Inc. now owns 1,112 shares of the pipeline company's stock valued at $45,000 after acquiring an additional 246 shares in the last quarter. Associated Banc Corp boosted its holdings in shares of Enbridge by 3.6% during the third 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. grew its position in Enbridge by 1.7% during the third quarter. Centaurus Financial Inc. now owns 14,980 shares of the pipeline company's stock valued at $608,000 after purchasing an additional 256 shares in the last quarter. First PREMIER Bank grew its position in Enbridge by 1.7% during the third quarter. First PREMIER Bank now owns 15,534 shares of the pipeline company's stock valued at $631,000 after purchasing an additional 257 shares in the last quarter. Finally, Keudell Morrison Wealth Management increased its stake in Enbridge by 1.4% in the 3rd quarter. Keudell Morrison Wealth Management now owns 20,242 shares of the pipeline company's stock valued at $822,000 after buying an additional 277 shares during the period. Hedge funds and other institutional investors own 54.60% of the company's stock.

Enbridge Stock Down 1.8 %

Shares of ENB traded down $0.78 during mid-day trading on Friday, hitting $43.14. 4,658,510 shares of the company's stock were exchanged, compared to its average volume of 4,341,864. 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 twelve month low of $32.85 and a twelve month high of $44.13. The firm has a fifty day moving average of $41.89 and a two-hundred day moving average of $39.11. The stock has a market cap of $93.96 billion, a price-to-earnings ratio of 19.97, a P/E/G ratio of 4.30 and a beta of 0.94.

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

Enbridge Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Saturday, February 15th will be paid a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a dividend yield of 6.21%. The ex-dividend date of this dividend is Friday, February 14th. Enbridge's payout ratio is 124.07%.

Wall Street Analyst Weigh In

ENB has been the topic of several research analyst reports. Morgan Stanley initiated coverage on shares of Enbridge in a report on Friday, October 25th. They set an "equal weight" rating on the stock. Royal Bank of Canada reissued an "outperform" rating and set a $63.00 price objective (up previously from $59.00) on shares of Enbridge in a research report on Wednesday. Jefferies Financial Group lowered Enbridge from a "buy" rating to a "hold" rating in a research report on Monday, September 30th. Finally, Wells Fargo & Company upgraded Enbridge from an "underweight" rating to an "equal weight" rating in a report on Wednesday, November 6th. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target 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.