Kayne Anderson Capital Advisors LP increased its holdings in shares of Enbridge Inc. (NYSE:ENB - Free Report) TSE: ENB by 55.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,143,265 shares of the pipeline company's stock after buying an additional 1,472,789 shares during the quarter. Enbridge accounts for approximately 4.3% of Kayne Anderson Capital Advisors LP's holdings, making the stock its 11th biggest position. Kayne Anderson Capital Advisors LP owned approximately 0.19% of Enbridge worth $168,258,000 at the end of the most recent quarter.
Other large investors have also recently bought and sold shares of the company. BNP Paribas Financial Markets increased its stake in shares of 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 purchasing an additional 1,136 shares during the last quarter. State Board of Administration of Florida Retirement System bought a new position in Enbridge during the first quarter valued at about $1,133,000. Orion Portfolio Solutions LLC lifted its position in shares of Enbridge by 8.6% in the first quarter. Orion Portfolio Solutions LLC now owns 45,578 shares of the pipeline company's stock worth $1,649,000 after buying an additional 3,610 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Enbridge by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 84,280,486 shares of the pipeline company's stock worth $3,049,268,000 after acquiring an additional 1,227,031 shares in the last quarter. Finally, TIAA Trust National Association boosted its stake in shares of Enbridge by 9.4% during the 1st quarter. TIAA Trust National Association now owns 20,968 shares of the pipeline company's stock worth $759,000 after acquiring an additional 1,798 shares in the last quarter. 54.60% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several equities analysts have commented on the company. 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 report on Monday, September 30th. Finally, Morgan Stanley started coverage on shares of Enbridge in a report on Friday, October 25th. They issued an "equal weight" rating on the stock.
Read Our Latest Stock Analysis on Enbridge
Enbridge Stock Performance
NYSE:ENB traded up $0.38 during mid-day trading on Monday, hitting $42.57. 4,073,171 shares of the company's stock traded hands, compared to its average volume of 4,875,650. The firm has a market capitalization of $92.69 billion, a price-to-earnings ratio of 19.71, a price-to-earnings-growth ratio of 4.10 and a beta of 0.93. The firm has a 50 day moving average of $41.18 and a two-hundred day moving average of $38.51. The company has a current ratio of 0.62, a quick ratio of 0.54 and a debt-to-equity ratio of 1.41. Enbridge Inc. has a 12 month low of $32.85 and a 12 month high of $43.31.
Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last announced its quarterly earnings data on Friday, November 1st. The pipeline company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.15. The business had revenue of $10.91 billion for the quarter, compared to the consensus estimate of $4.54 billion. Enbridge had a net margin of 13.54% and a return on equity of 9.94%. During the same quarter last year, the company posted $0.46 earnings per share. On average, equities analysts forecast that Enbridge Inc. will post 2.06 earnings per share for the current fiscal year.
Enbridge Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Friday, November 15th will be issued a $0.676 dividend. This is a boost from Enbridge's previous quarterly dividend of $0.67. The ex-dividend date is Friday, November 15th. This represents a $2.70 annualized dividend and a yield of 6.35%. Enbridge's dividend payout ratio is 122.22%.
About Enbridge
(
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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