Metis Global Partners LLC Raises Stock Holdings in Enbridge Inc. (NYSE:ENB)

Metis Global Partners LLC boosted its stake in Enbridge Inc. (NYSE:ENB - Free Report) TSE: ENB by 17.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 198,935 shares of the pipeline company's stock after purchasing an additional 29,873 shares during the period. Metis Global Partners LLC's holdings in Enbridge were worth $8,081,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Oppenheimer Asset Management Inc. grew its position in shares of Enbridge by 1.0% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 446,818 shares of the pipeline company's stock worth $18,145,000 after buying an additional 4,205 shares during the last quarter. Oppenheimer & Co. Inc. boosted its holdings in Enbridge by 2.2% in the third quarter. Oppenheimer & Co. Inc. now owns 383,835 shares of the pipeline company's stock worth $15,588,000 after acquiring an additional 8,194 shares in the last quarter. Pinnacle Financial Partners Inc boosted its holdings in Enbridge by 8.8% in the third quarter. Pinnacle Financial Partners Inc now owns 188,244 shares of the pipeline company's stock worth $7,650,000 after acquiring an additional 15,207 shares in the last quarter. Hartline Investment Corp boosted its holdings in Enbridge by 7.6% in the third quarter. Hartline Investment Corp now owns 26,035 shares of the pipeline company's stock worth $1,057,000 after acquiring an additional 1,850 shares in the last quarter. Finally, Gibson Wealth Advisors LLC bought a new stake in Enbridge in the third quarter worth $203,000. 54.60% of the stock is owned by hedge funds and other institutional investors.

Enbridge Price Performance

Enbridge stock traded up $0.61 during midday trading on Thursday, reaching $43.10. 5,623,901 shares of the stock traded hands, compared to its average volume of 4,876,185. The stock's fifty day moving average is $41.06 and its 200-day moving average is $38.35. Enbridge Inc. has a 12 month low of $32.76 and a 12 month high of $43.31. The stock has a market cap of $93.86 billion, a P/E ratio of 19.82, a PEG ratio of 4.10 and a beta of 0.93. 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 (NYSE:ENB - Get Free Report) TSE: ENB last issued its quarterly earnings data on Friday, November 1st. The pipeline company reported $0.55 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.40 by $0.15. Enbridge had a return on equity of 9.94% and a net margin of 13.54%. The business 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. As a group, equities research analysts anticipate that Enbridge Inc. will post 2.06 EPS for the current year.

Enbridge Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Friday, November 15th will be issued a $0.676 dividend. This represents a $2.70 annualized dividend and a dividend yield of 6.27%. This is an increase from Enbridge's previous quarterly dividend of $0.67. The ex-dividend date is Friday, November 15th. Enbridge's dividend payout ratio is presently 122.22%.

Analyst Upgrades and Downgrades

Several research firms have commented on ENB. Morgan Stanley assumed coverage on Enbridge in a report on Friday, October 25th. They issued an "equal weight" rating on the stock. Jefferies Financial Group cut Enbridge from a "buy" rating to a "hold" rating in a research note on Monday, September 30th. Finally, Wells Fargo & Company upgraded Enbridge from an "underweight" rating to an "equal weight" rating in a research report on Wednesday, November 6th.

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.