Enbridge Inc. (NYSE:ENB) Stake Raised by JPMorgan Chase & Co.

JPMorgan Chase & Co. lifted its holdings in shares of Enbridge Inc. (NYSE:ENB - Free Report) TSE: ENB by 1.1% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 16,142,638 shares of the pipeline company's stock after purchasing an additional 176,733 shares during the quarter. JPMorgan Chase & Co. owned about 0.74% of Enbridge worth $655,556,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. McIlrath & Eck LLC raised its position in shares of Enbridge by 74.9% during the 3rd quarter. McIlrath & Eck LLC now owns 689 shares of the pipeline company's stock worth $28,000 after acquiring an additional 295 shares in the last quarter. Grove Bank & Trust lifted its position in Enbridge by 56.7% during the 3rd quarter. Grove Bank & Trust now owns 771 shares of the pipeline company's stock worth $31,000 after acquiring an additional 279 shares during the period. MFA Wealth Advisors LLC raised its stake in shares of Enbridge by 55.6% during the third quarter. MFA Wealth Advisors LLC now owns 784 shares of the pipeline company's stock worth $32,000 after purchasing an additional 280 shares during the last quarter. William B. Walkup & Associates Inc. acquired a new stake in shares of Enbridge in the 2nd quarter worth $28,000. Finally, Fortitude Family Office LLC purchased a new position in Enbridge during the third quarter worth about $35,000. Hedge funds and other institutional investors own 54.60% of the company's stock.

Enbridge Stock Up 0.0 %

Shares of ENB stock traded up $0.02 during trading hours on Friday, hitting $41.82. 1,792,348 shares of the company were exchanged, compared to its average volume of 4,802,625. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.54 and a current ratio of 0.62. The stock has a market capitalization of $91.10 billion, a price-to-earnings ratio of 19.36, a P/E/G ratio of 4.18 and a beta of 0.94. Enbridge Inc. has a one year low of $32.85 and a one year high of $44.13. The business's 50-day simple moving average is $42.06 and its two-hundred day simple moving average is $39.70.

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

Enbridge Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Saturday, February 15th will be paid a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a yield of 6.41%. The ex-dividend date of this dividend is Friday, February 14th. Enbridge's payout ratio is currently 124.07%.

Analysts Set New Price Targets

Several analysts recently commented on ENB shares. Royal Bank of Canada reiterated an "outperform" rating and issued a $63.00 price objective (up previously from $59.00) on shares of Enbridge in a research note on Wednesday, December 4th. Wells Fargo & Company upgraded 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 note on Monday, September 30th. Finally, Morgan Stanley initiated coverage on Enbridge in a report on Friday, October 25th. They issued an "equal weight" rating for the company. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $63.00.

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.