Lindbrook Capital LLC Raises Holdings in Enbridge Inc. (NYSE:ENB)

Lindbrook Capital LLC raised its holdings in shares of Enbridge Inc. (NYSE:ENB - Free Report) TSE: ENB by 816.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 21,714 shares of the pipeline company's stock after purchasing an additional 19,344 shares during the period. Lindbrook Capital LLC's holdings in Enbridge were worth $882,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Sei Investments Co. grew its holdings in shares of Enbridge by 6.1% during the first quarter. Sei Investments Co. now owns 274,235 shares of the pipeline company's stock valued at $9,922,000 after buying an additional 15,650 shares during the last quarter. Stonegate Investment Group LLC grew its stake in Enbridge by 66.5% during the 3rd quarter. Stonegate Investment Group LLC now owns 33,833 shares of the pipeline company's stock valued at $1,374,000 after purchasing an additional 13,515 shares during the last quarter. State Board of Administration of Florida Retirement System acquired a new position in shares of Enbridge in the first quarter valued at about $1,133,000. International Assets Investment Management LLC raised its stake in shares of Enbridge by 734.1% in the third quarter. International Assets Investment Management LLC now owns 891,403 shares of the pipeline company's stock worth $36,200,000 after purchasing an additional 784,535 shares during the last quarter. Finally, U.S. Capital Wealth Advisors LLC lifted its holdings in shares of Enbridge by 29.5% during the third quarter. U.S. Capital Wealth Advisors LLC now owns 167,701 shares of the pipeline company's stock worth $6,810,000 after purchasing an additional 38,231 shares during the period. 54.60% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Enbridge Stock Performance

Shares of ENB traded down $0.09 during trading hours on Friday, hitting $42.33. The stock had a trading volume of 4,583,020 shares, compared to its average volume of 3,357,806. The firm has a 50-day moving average price of $40.92 and a 200 day moving average price of $38.21. Enbridge Inc. has a fifty-two week low of $32.76 and a fifty-two week high of $42.61. The firm has a market capitalization of $92.18 billion, a price-to-earnings ratio of 19.60, a PEG ratio of 4.04 and a beta of 0.93. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.68 and a current ratio of 0.62.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last issued 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 company 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 last year, the company earned $0.46 earnings per share. As a group, research analysts anticipate that Enbridge Inc. will post 2.06 EPS for the current year.

Enbridge Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Friday, November 15th will be paid a dividend of $0.676 per share. The ex-dividend date is Friday, November 15th. This represents a $2.70 dividend on an annualized basis and a dividend yield of 6.39%. This is a boost from Enbridge's previous quarterly dividend of $0.67. Enbridge's payout ratio is currently 122.22%.

About Enbridge

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.