Quadrature Capital Ltd Acquires New Shares in Enbridge Inc. (NYSE:ENB)

Quadrature Capital Ltd acquired a new position in shares of Enbridge Inc. (NYSE:ENB - Free Report) TSE: ENB during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 40,200 shares of the pipeline company's stock, valued at approximately $1,634,000.

Other large investors also recently made changes to their positions in the company. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its holdings in shares of Enbridge by 1,514.7% during the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 4,799,345 shares of the pipeline company's stock valued at $194,938,000 after acquiring an additional 4,502,115 shares in the last quarter. Pathway Financial Advisers LLC increased its stake in Enbridge by 4,120.0% during the 3rd quarter. Pathway Financial Advisers LLC now owns 4,571,669 shares of the pipeline company's stock valued at $185,655,000 after purchasing an additional 4,463,335 shares in the last quarter. Cibc World Market Inc. raised its holdings in Enbridge by 12.8% during the second quarter. Cibc World Market Inc. now owns 32,531,675 shares of the pipeline company's stock worth $1,157,802,000 after buying an additional 3,693,495 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Enbridge by 27.8% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 12,278,739 shares of the pipeline company's stock valued at $498,734,000 after buying an additional 2,668,692 shares in the last quarter. Finally, Kayne Anderson Capital Advisors LP grew its holdings in shares of Enbridge by 55.2% during the third quarter. Kayne Anderson Capital Advisors LP now owns 4,143,265 shares of the pipeline company's stock valued at $168,258,000 after buying an additional 1,472,789 shares during the last quarter. 54.60% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Jefferies Financial Group downgraded Enbridge from a "buy" rating to a "hold" rating in a research note on Monday, September 30th. Royal Bank of Canada reiterated an "outperform" rating and set a $63.00 price target (up previously from $59.00) on shares of Enbridge in a report on Wednesday. Morgan Stanley began coverage on Enbridge in a research note on Friday, October 25th. They set an "equal weight" rating on the stock. Finally, Wells Fargo & Company upgraded shares of Enbridge from an "underweight" rating to an "equal weight" rating in a research note on Wednesday, November 6th. Four investment 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 has an average rating of "Hold" and a consensus price target of $63.00.

Enbridge Stock Performance

Enbridge stock traded down $0.78 during mid-day trading on Friday, reaching $43.14. 4,658,510 shares of the company's stock were exchanged, compared to its average volume of 4,341,864. The firm has a market capitalization of $93.96 billion, a PE ratio of 19.97, a P/E/G ratio of 4.30 and a beta of 0.94. The company has a quick ratio of 0.54, a current ratio of 0.62 and a debt-to-equity ratio of 1.41. The business's fifty day simple moving average is $41.89 and its 200 day simple moving average is $39.11. Enbridge Inc. has a one year low of $32.85 and a one year high of $44.13.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last issued 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 company 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 period in the previous year, the firm earned $0.46 EPS. On average, sell-side analysts expect that Enbridge Inc. will post 2.03 earnings per share for the current year.

Enbridge Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Saturday, February 15th will be given a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a dividend yield of 6.21%. The ex-dividend date of this dividend is Friday, February 14th. Enbridge's dividend payout ratio is currently 124.07%.

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.