National Bank of Canada FI Acquires 2,061,758 Shares of Enbridge Inc. (NYSE:ENB)

National Bank of Canada FI increased its stake in Enbridge Inc. (NYSE:ENB - Free Report) TSE: ENB by 12.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 18,163,353 shares of the pipeline company's stock after purchasing an additional 2,061,758 shares during the quarter. Enbridge accounts for 0.9% of National Bank of Canada FI's portfolio, making the stock its 16th largest position. National Bank of Canada FI owned about 0.83% of Enbridge worth $737,754,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in ENB. TruNorth Capital Management LLC bought a new stake in Enbridge during the second quarter valued at approximately $28,000. William B. Walkup & Associates Inc. purchased a new position in shares of Enbridge during the 2nd quarter worth $28,000. Grove Bank & Trust grew its position in shares of Enbridge by 56.7% during the 3rd quarter. Grove Bank & Trust now owns 771 shares of the pipeline company's stock valued at $31,000 after acquiring an additional 279 shares during the period. MFA Wealth Advisors LLC increased its stake in shares of Enbridge by 55.6% in the 3rd quarter. MFA Wealth Advisors LLC now owns 784 shares of the pipeline company's stock worth $32,000 after purchasing an additional 280 shares in the last quarter. Finally, Fortitude Family Office LLC purchased a new position in Enbridge during the third quarter valued at $35,000. Institutional investors own 54.60% of the company's stock.

Analysts Set New Price Targets

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

Enbridge Price Performance

ENB traded down $0.78 on Friday, hitting $43.14. 4,658,510 shares of the company's stock traded hands, compared to its average volume of 4,341,864. 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 one year low of $32.85 and a one year high of $44.13. The company's 50 day simple moving average is $41.84 and its 200-day simple moving average is $39.05. The firm 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 announced its quarterly earnings results 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 net margin of 13.54% and a return on equity of 9.94%. The company had revenue of $10.91 billion for the quarter, compared to the consensus estimate of $4.54 billion. During the same period in the previous year, the firm posted $0.46 EPS. As a group, research analysts anticipate that Enbridge Inc. will post 2.03 EPS for the current 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 issued a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a yield of 6.21%. The ex-dividend date of this dividend is Friday, February 14th. Enbridge's dividend payout ratio is presently 121.76%.

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.